Cost of Renting

Long Lets

A long let is usually for a period of not less than 6 months. The rental price is usually substantially lower than the short let price and that is why a contract binds the lessee to take the property for a minimum period. All contracts (unless agreed otherwise) include a 'force majeure' clause which gives the Lessee the right to terminate the lease before it's lapse, should he/she have to leave the island for a valid reason.

1. Refundable security deposit - usually equivalent to one or two month's rent
2. Rent in advance - depending on what is agreed (could be monthly, quarterly or even yearly)
3. Agency fee - The standard agency fee is equivalent to ½ of the first month's rent from the Landlord and ½ of the first month's rent from the tenant + 18% VAT.

Short Lets

A short let can range from a minimum of 7 days to 6 months. The rent varies depending on the property, the number of persons and the duration. One will generally have to pay a higher daily rent for one week compared to one month.

1. Rent is usually paid in advance, however can be negotiated differently on monthly rentals.
2) Agency fee is 10% of the total rent from the landlord and 10% of the total rent from the tenant.

Commercial Rentals

For any form of commercial rental the standard agency fee is 10% + VAT of the first years rent from landlord and 10% +VAT for the first years rent from the tenant.  In the case of a premium being imposed a 5% + VAT on the premium amount is also due by the landlord to the agency.

Holiday Rentals

To secure your booking of a holiday rental, a non-refundable 25% deposit is required upon booking. The balance is due 8 weeks prior to your arrival.

Effecting payment through your bank
Please instruct them to transfer funds to

Bank of Valletta p.l.c.
Dragonara Road
Paceville
St. Julian's
MALTA
via fax: + 356 21 313103

Our bank account number will be given on confirmation of booking.

Payment by credit card.
We require by fax, a signed letter authorising us to debit your card with the relative amount. Please provide us with:

Your Credit Card number
Credit Card expiry date
Name of Credit Card holder (as displayed on your credit card)
Signature