Landlord Guide

About Ourselves

Specialists

We are an independent business specializing in Residential Long Lets and Property Management for the island of Gozo. As specialists we are fully focused on the priorities and needs of the Landlord. Since we don’t get involved in property development or sales our emphasis is always firmly on making the best job we possibly can of looking after our landlord clients and their properties.

We never forget that the property is your most important asset and we can confidently assure you that by instructing us to act as your Letting and/or Management Agent your asset will be in professional and caring hands.

A Personal Service

Because we are a small company, we are able to offer a personal and friendly Service, whilst at the same time maintaining a high standard of competence and professionalism. Our staff are have been trained and qualified to the UK standards and our Managing Director is a member of ARLA in the UK, The Association of Residential Letting Agents.

Competitive Rates

Our Property Management fees are very competitive, and our one off fee for long lets is the industry standard of 50% of the first month’s rent. We have been both tenants and landlords ourselves and we like to keep it simple and affordable, greed is certainly not part of our ethos.

Carefully Selected Quality Tenants

Drawn from a continually updated register, all prospective Tenants are qualified before introducing them to viewings.

Out of Hours Service

For our initial meetings with you we will if necessary be pleased to visit your property outside normal office hours, at a time that is convenient to you, and thus fit in with your busy schedule.

A Tailored Service

We offer two types of letting service:

Let Only

Our Let Only Services – the general standard service in the Maltese islands, includes marketing of the property and carrying out accompanied viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we will then go ahead and prepare the tenancy agreement, and if required an inventory.

Following this, a security deposit and the first month’s rent will be collected, and credited to the Landlord, less our fee – which is 50% of the first month’s rent plus VAT.

Managing the tenancy, including the maintenance and rent collection, will then be the responsibility of the Landlord.

Full Management

This is our inclusive Service, which provides for the marketing of the property and carrying out viewings, leading to the introduction and vetting of a prospective Tenant. This proving satisfactory, we will then go ahead and prepare the tenancy agreement, and if required an inventory. The Tenant will then be checked in against the inventory.

During the tenancy we carry out periodic inspection visits. Should these bring to light any maintenance issues, we will (within the confines of our Management Agreement) recommend, oversee and account for any necessary repairs.

Collecting and processing of rental payments is also part of the Service. These will be credited automatically to the Landlord’s nominated bank account.

Towards the end of the tenancy, we will liaise with the Tenant, and renew the tenancy agreement or arrange to check them out as applicable.

This Service is suitable for those Landlords who are not residing locally, or would rather not deal with the Tenants directly, preferring all aspects to be handled by an Agent.

 

General Practical and Legal Issues

Preparing the Property

Letting a property is a great way to generate income, but before you can sit back and let the funds roll in there’s a lot for you and your letting agent to organise. We have found that a good relationship with Tenants is the key to a smooth-running tenancy As Property Managers this relationship is our job, but it is important that the Tenants should feel comfortable in their temporary home, and that they are receiving value for their money. It follows therefore that a well presented and maintained property in a good decorative order will go towards this, whilst also achieving a higher rental figure. Tenants are also more inclined to treat such a property with greater respect.

General Condition

Electrical, plumbing, waste, central heating (If applicable) and hot water systems must be safe, sound and in good working order. Repairs and maintenance are at the Landlords expense unless misuse can be established. Interior decorations should be in good condition and preferably plain, light and neutral.

Furnishings

Your property can be let fully furnished, part furnished or unfurnished. Which of these is appropriate will depend on the type of property and local market conditions. Here in Malta, the majority of Long Lets are fully furnished. We will be pleased to give you advice on whether to furnish or not and to what level. As a minimum you will need to provide decent quality curtains and light fittings, a washing machine, heaters for winter and fans for summer if the property is not air conditioned. Remember that there will be wear and tear on the property and any items provided.

Personal items, ornaments etc.

Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those of real or sentimental value. Some items may be boxed, sealed and stored in the loft at the owner’s risk. All cupboards and shelf space should be left clear for the Tenant’s own use.

Gardens

Gardens should be left neat, tidy and rubbish free, with any flower beds maintained. Tenants are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools. However, few Tenants are experienced gardeners, and if you value your garden, or if it is particularly large, you may wish us to arrange visits by our regular gardener.

Cleaning

At the commencement of the tenancy the property must be in a thoroughly clean condition, and at the end of each tenancy it is the Tenants’ responsibility to leave the property in a similar condition. Where they fail to do so, cleaning will be arranged at their expense.

Information for the Tenant

It is helpful if you leave information for the Tenant, e.g. on operating the gas heaters and hot water system, washing machine and alarm system, and the day refuse is collected etc.

Keys

You should provide one set of keys for each Tenant. Where we will be managing we will arrange to have duplicates cut as required.

Other Considerations

Mortgage

If your property is mortgaged, you may require your mortgagee’s written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.

Leaseholds

If you are a leaseholder, you should check the terms of your lease, and obtain any necessary written consent before letting.

Income tax

When resident in Malta, it is entirely the Landlords responsibility to inform the Inland Revenue Department of rental income received, and to pay any tax due – currently it is 15% of the rental income received. VAT is not charged on long lets.

The inventory

It is most important that an inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of a tenancy. Without such safeguards, it will be impossible for the Landlord to prove any loss, damage, or significant deterioration of the property or contents. In order to provide a complete Service, we will if required arrange for our qualified Inventory professional to prepare an inventory and schedule of condition, at the cost quoted in our Agency Agreement.

Landlord Obligations

There are certain obligations that should be met in ‘good faith’ by every Landlord to their tenants, examples are such:

• Allow the tenant to live in the property without being disturbed. Give at least 24 hours’ notice if you want to access the property in any situation except an emergency.
• Maintain the property and keep it in a good state of repair at all times.
• Ensure both electricity and water supplies are installed and working
• Ensure that all equipment is safe and in good working order and supply proof where necessary
• Provide all operating and safety instructions for appliances and equipment
• Insure the property and the contents- fixtures and fittings belong to you. The tenant is responsible for insuring their personal belongings.
• Charge a fair market rent.

Of course the Tenant also has certain obligations to the landlord, some of these are mentioned in our tenant guide.

We hope that the information covered in this guide will be of assistance to you. If there are any aspects of which you are unsure, please ask us. We look forward to being of assistance to you in the Letting, or the Letting and Management of your property.

The GozoLetting Team