Faq

Frequently asked questions

What is the difference between short let and long let of properties?

  • By law, short let properties’ agreements usually last for less than 12 months, while long let properties’ agreements are usually distinguished as those which last for more than 12 months. This classification may vary according to the landlord. Therefore, our advice will be to have a discussion covering such details with your property advisor before you sign the agreement.

What do I need to have when signing an agreement for long rent?

  • Rent: the first month’s rent to pay in advance. You will then pay your rent due each month to your landlord directly.
  • Deposit: usually the amount of 1 month rent.
  • Utilities advance to cover your water and electricity consumption in the beginning. The amount (usually €50 – €70) depends on the size of the property and the number of tenants. To learn about rates click here (http://glmalta.com/how-to-calculate-your-monthly-electricity-and-water-bills/)
  • Our fee: 50% (excluding VAT 18%) of the monthly rent, which includes the lease agreement that we will provide you with. We can provide you with a form to register the meter readings, the inventory, general observations and comments.
  • Proof of identity (ID or passport): your lease agreement will need to show your real name and date of birth.

What do I need to have when signing an agreement for short rent?

  • Rent for the period of the tenancy
  • Our fee: 10% of the total rent which includes the lease agreement that we provide you with
  • Proof of identity (ID or passport): your lease agreement will need to show your real name and date of birth

What do I need to have when signing a letting agreement for commercial property?

  • Rent payable in advance and the deposit based on the agreement.
  • Our fee: 10% of the average yearly rent, which includes the lease agreement that we will provide you with.
  • Utility bills and telecommunication bills based on the consumption.
  • Proof of identity (ID or passport): your lease agreement will need to show your real name and date of birth

When do I need to provide the payments and ID details?

  • If have found the property you liked then typically the lease agreement is signed immediately after the viewing. When it comes to renting the property, the speed of the local real estate market is extremely high. Most probably what you see available today will be rented out the same day or tomorrow. Therefore, our advice to you will be not to postpone the decision for the later.
  • You will have to pay all of the above when you sign the lease agreement together with your landlord and us.

Why should I use the real estate agent’s help?

  • Time saved! We only show you properties that you really want with landlords that really want to let their properties.
  • Unlimited number of viewings.
  • Lease agreement.
  • Honest advice and friendly attitude.
  • Ready to go forms to register meter readings and inventory (Long rent).

What do I need to have my property listed at Gold Lion Real Estate for long rent?

  • Spare key to the property so that we can take care of the viewings
  • Proof that you are entitled to let the property.
  • Meter readings.
  • Our fee: 50% (excluding VAT 18%) of the monthly rent, which includes the lease agreement and professional photography of the property.
  • Proof of identity (ID or passport): your lease agreement will need to show your real name and date of birth.

What do you need to have my property listed at Gold Lion Real Estate for short let?

  • Spare key to the property so that we can take care of the viewings
  • Proof that you are entitled to let the property.
  • Meter readings.
  • Our fee: 10% of the total rent, which includes the lease agreement and professional photography of the property.
  • Proof of identity (ID or passport): your lease agreement will need to show your real name and date of birth.

What do I need to have my commercial property listed at Gold Lion Real Estate?

  • Spare key to the property so that we can take care of the viewings
  • Proof that you are entitled to let the property.
  • Meter readings.
  • Our fee: 10% (excluding VAT 18%) of the average yearly rent, which includes the lease agreement and professional photography of the property.
  • Proof of identity (ID or passport): your lease agreement will need to show your real name and date of birth.

When do I need to provide Gold Lion Real Estate with the payments and ID details?

  • When you sign the lease agreement with your new tenant and us.

Why should I use the real estate agent’s help?

  • Unlimited number of listings.
  • Free time. You would not need to wait for viewings anymore as we are going to take care of that for you.
  • Professional photography of the property to use within our listings.
  • Lease agreement.
  • We are after long term relationships and hope to sustain our link with our landlord clients in the future.
  • Ready to go forms to register meter readings and inventory (long rent).

What is the procedure of buying property through Gold Lion Real Estate?

  • First you provide us with the description of your desired property, its location and your budget.
  • We arrange your property viewings.
  • Given the property meets your criteria and requirements, we proceed to the next stage.
  • The notary carries out a discovery (to make sure that all the documentation is in place).
  • Promise of sale is done by the notary between you and the seller. This is when you pay around 10% of the purchase price as a deposit.
  • You get an assistance of your bank to discuss mortgage conditions.
  • Final contract of the sale is instigated and payment is arranged according to agreement.

What fees do I need to pay when buying the property in Malta though Gold Lion Real Estate?

  • Zero. Absolutely nothing.

What fees / costs should I be expecting in the process of buying the property?

  • Notary’s fees (as agreed directly with the notary).
  • 5% tax to pay to Inland Revenue.

What is the procedure of selling property through Gold Lion Real Estate?

  • You decide to sell your property through us. We get it professionally photographed and listed on our website.
  • We take care of the enquiries and viewings. We find you the buyer.
  • As soon we find the buyer, we proceed to the next stage. The notary carries out discovery with you.
  • Promise of sale is done by the notary between you and the buyer.
  • Final contract of the sale is instigated and payment is arranged according to agreement
  • Receiving the payment.

What fees do I need to pay when selling the property in Malta though Gold Lion Real Estate?

  • 5% of the purchase price of the property. No other charges at all.

What fees / costs should I be expecting in the process of selling the property?

  • 8% tax to pay to Inland Revenue.