The laws in Malta have undergone thorough amendments a lot of times. In 1995, the government has privatized the rental sector, from then the landlords or parties making the contract as per their convenience. With the rising demand for house or property, government has made modification in laws for both commercial as well as residential leases.
If you are willing to purchase properties to rent in Malta, you need to know the laws and reforms made by the Maltese government. If you have knowledge regarding the laws, you can avoid the future problems and lead a happy life with good profit.
Laws in Malta
Residential lease Bill – This bill came into existence from January 1st, 2020. Its main motive is to make changes on the rented leases by giving more privileges to the tenants, and setting limitations on owner practices.
Lease – You have to register the lease contract within a month. According to Article 1531A, tenants deposit, the condition of inventory, furniture will be mentioned it.
If you fail to register the contract, as per Article 4 you can do it with late fee.
Long private residential lease – The minimum duration of this lease will be a year. The owner should inform the tenant before 3 months of the expiry date through a registration letter. Otherwise, as per the norms it will automatically gets renewal.
Short private residential lease – This lease is for tenants, who stay for short period that is up to 6 months. It gets terminated automatically after the expiry date.
In addition to this, there are some other laws for the well-being of both landlord and tenant. If you want to make your work ease, you can take advice from well experienced and educated Malta Real Estate Agents working in Benestate. It helps to get some knowledge on Malta laws and saves your time.