Why You Should Hire a Letting Agent in Malta

Self-managing your property rental can be a nightmare. It might seem tempting to save yourself some money and do it yourself, but are you really prepared for all the hassle that goes along with the process?

Tenant Eligibility

Right from the beginning, you find yourself dealing with a torrent of phone calls from potential tenants looking to rent direct from the owner. Some are time wasters and others are more serious, but either way, you need to consider why a lot of people who are looking for flats to rent don’t want to rent from an agent. Often, it’s because they can’t provide the necessary documentation or proof that they are financially secure, and are hoping a private landlord might be more lenient. The first question to ask yourself is: are these the sort of tenants I want to attract?

Malta  Why You Should Hire a Letting Agent in Malta malta

How much time will it take to get the right tenant?

Let’s say you’ve gone through the painful phone screening process, and are now happy to meet with a few prospective renters. Do you really have the time to be waiting around to show them the property? People regularly arrive late or cancel because of other commitments. Nobody is paying you for that time, so your initial savings are already being eaten into. Even when a potential tenant does come and look round your property, there is a chance that they didn’t read the advert details properly and were possibly looking for something a little different. In Malta, for example, it’s not unheard of for someone to attend a viewing and just assume that the property would have a swimming pool because of its location. A letting agent can manage expectations during the search phase, and only connect you with people who know exactly what they are looking for.

Landlord & Tenant Security

Speaking of contracts: where do you start? There are off-the-shelf options available for private landlords, but it’s a one-size-fits-all document and is unlikely to cover your specific terms. A letting agent will work closely with legal experts to draft their contracts, and also to make sure that both the contract and deposit are registered with the appropriate authority MEPA.

Close-up shot of Homebuyers signing home contracts and house brokers holding house key.  Why You Should Hire a Letting Agent in Malta close up shot of homebuyers signing home contracts and house brokers holding house key

Property and Your Personal Safty

Let’s face it Malta is one of the safest places in the EU and even the world. However do you really want to put your personal details for all to see and meeting with strangers in an isolated environment? I hate to say it but you never know whats going on in people’s minds and some times you may be great full that you had the perceptional tenants vetted before you go giving away your information.

Secure Your Future

You will also need to make sure that you produce a full and thorough inventory. Everything that is present in your property needs to be logged. This can be a long, tedious process, and if you’re lucky enough to have several apartments for rent, then you could be looking at hours of extra work. This protects everyone involved from foul play. Any damages pre-contract are recorded and registered with the planning authority to ensure the deposit is either used in an intended way or returned to the rightful owner.

Being a private landlord may offer some small savings, but as you can see, these will quickly be lost if there’s a problem. The benefits of using an agent are vast and give you the peace of mind you need to enjoy the things you love.

Cool the body and calm the mind  Why You Should Hire a Letting Agent in Malta cool the body and calm the mind

Advertising Your Rental Property In Malta

So if you didn’t use an agent, how do you find protentional renters? Maybe Malta Park or placing a sign on the outside of your property?

  • Malta park can be useful as it’s free and most people are aware that it exists, however, there are so many people using the site to advertise their rental properties in Malta that after a few hours your post was added it will no longer be visible as it will be pushed down because of all the other new listings. So what can you do? Heres to options.
    • You pay to advertise from €10 for 3 days.
    • The other option is you can keep relisting the property.  Once the property is no longer on the first few page you can delete the posting and resubmit the post.
    • It’s worth bearing in mind that there are tons of estate agents on the site so you could find that most of the contacts you receive will be from agents anyway.
  • Having a sign may help depending on where the property is located. On a busy street or main road could lead to some calls whereas no so much in quite areas.