Relocating your iGaming Business to Malta
From a technical or financial point of view this article will not do you any good but if you are interested in knowing some of the ins and outs of renting a property in Malta keep on reading.
The first thing that will be on your mind even before getting to Malta is accommodation. Renting a property is quite simple and the process is very quick. This can even take a matter of hours and you could actually be living in the property you chose that same day. As EASY as it sounds, some advice from a realtor would be to make sure the Real Estate Agent you choose to assist you will be looking after your needs.
Here are some answers to a few questions to get you started should you eventually need to find a home in Malta.
1.) Where? Most iGaming Companies are based in the Sliema and St. Julians areas and should you not plan on driving in Malta it would be recommended to rent a property in these areas. I would not consider moving to the south, central or the north of the Island unless you will be driving and yet again you must be certain that you are happy with the distances if you are driving. I have had many a client change their mind after realising that living in these areas were simply to much of hassle to get to and from in the mornings and evenings and that they would prefer the simple Island life and live next to the sea. After all, we are on an Island and there is nothing better than waking up and viewing the sea or taking literally three minutes to get there.
2.) What types of property does Malta have to offer? Malta offers all types of properties from modern apartments to villas with or without pool.
3.) Does Malta offer a high standard of accommodation? The standard of properties in Malta differs however on the whole properties are usually quite modern. Just like in other countries, you get what you pay for and if your accommodation is not a priority you can pay much less but you will certainly get much less.
4.) How Much? For a modern 2 bedroom apartment in Sliema or St. Julian’s one is looking to pay anywhere from € 650 upwards.
5.) How Long of a contract can I sign for? Usually an average rental period is for one year however three or even six month rentals are also acceptable. These shorter periods are usually charged at a 15% – 20% surcharge per month depending on the owner. On the other hand, the longer the rental period the more negotiable the rent will be.
6.) If I break the contract what will happen? Generally if you break the contract because you are moving back to your country there is a “Force Majeure” clause which allows you to leave if the company and you decided to part ways.
If you are leaving a property because you want a change or upgrade or downgrade you must be very careful. By Maltese law an owner can keep you bound to this contract and demand payment therefore it is very important that when you sign a contract you are well informed and certain that the contract is protecting you in that you understand all the pitfalls of renting that particular property. There is no standard Maltese rental contract. The difference will be the agent that is providing you with a service.
Renting a property maybe as simple as pie but one must know the ins and outs of renting a property in Malta or be able to put trust in a Real Estate agent that will keep you honestly informed so that in the long term you won’t find out various problems which could be avoided. A Real Estate agent can make the difference in making sure you get the right property, at the right price and that you are protected with the contract that you have signed with the landlord.
If you need further assistance in renting property in Malta please contact Edward Agius, Letting Manager, on +356 2578 0000 or email him on [email protected]remax-malta.com for further information.