The differences between short let and long let is the first piece of knowledge you should know before choosing to rent a place. The importance of which one you choose depends upon the lifestyle you wish to have and to furthermore consider why you are renting. We will advise you with these differences so that it will be easier to match your requirements!
The standard idea is that a tenancy agreement that lasts longer than six months is a long-let agreement. The law states that it involves renting a place for within a year.
Why would you choose the Long-Let Option?
For starters it is advisable to invest in a long-let agreement if you would like to live a longer time in Malta. This is usually an option for locals or for expats who have job opportunities in Malta. It may also apply to those who classify as “not managing to afford buying a property”. It is a great experience for youths who would like to gain a little bit of independence away from their homes. Other positive areas of the Long-Let option are how one saves money. Short-lets at a monthly rate are often more expensive than Long-Lets. In a Long Let Malta agreement the tenant will have to pay utility bills apart from the rent bills. This includes the water and electricity bill and your internet connection. Negotiation of when these additional bills are paid should be discussed with your landlord. A person looking to let a property tends to find lots of apartments for rent in Malta
Why would you choose the Short-Let Option?
Now that we have informed you on the benefits of Long-Let what are those of Short-Let? Short Let Malta monthly rates might usually be a bit more expensive because utility bills unlike in Long-Let agreements do not have to be paid. Also, cleaning fees might be included in your monthly rate costs. Those who typically choose this investment are travelling workers with short-term work contracts or students who on internship opportunities within the country. For whatever reason you decide to short-let, if its for the reasons mentioned above or a temporary solution to a permanent one, the option to rent are there.
RE/MAX have qualified Associates to assist you with your journey. The market availability for rental property is sky high right now with the demand for letting set to increase with the ease of travel restrictions.
