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Important Points To Mention In The Leasing Document

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By Author: Mirko Carabott
Total Articles: 20
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Are you renting out your property? Be very careful about the renter. There are many people who will rent the place and during their stay will damage the property beyond repair and when you confront them they will feign innocence or will say that the damage was there when they shifted. In order to avoid any kind of complications, it is always a good idea to clear things right at the beginning. This is more so if you are planning to rent your property for long let in Malta. We suggest that you get all the necessary points on the legal document so that the renter cannot escape. In vase, of any damage they will pay the amount to get it fixed.

There are many real estate lawyers working in the city. Some of them work with a real estate company while others operate independently. It depends on you as to who would you hire. Make sure that the real estate agent is well versed in the different laws and regulations. Have a detailed discussion with him regarding the points that you would like to include in the legal document. Make it a point to mention what will happen in case the renter avoids, breaks or overlooks any of the clauses mentioned in the document.

Some of the important points that should be mentioned clearly in the legal document include:

The date within which the renter should pay the rent every month
The amount of rent and the tax applicable
The duration of the lease
The names of the individuals and their address between whom the contract is signed
The deposit amount that needs to be paid at the time of leasing the property
Repair and maintenance guidelines
Damage policy
Precautionary measures

These things should be mentioned in the legal document besides any other points that you would like to include in it. Make sure that the renter signs the document. Give a copy of the document to him and keep one with you for safekeeping.

There are many incidents where the renter has damaged the property knowingly or unknowingly. And as the owner you had to pay the amount to get the property fixed. This is an extra amount that you had to pay. So it is better to make provisions for it from the beginning. When you are renting out your property for a long time, it means that the person who has leased the property is going to be there for the entire duration unless there is some emergency and he needs to vacate the place. We have seen that when everything is mentioned and clarified from the beginning there is no scope of confusion. Moreover, both the parties involved know what they are getting into and have agreed on the same.

What are some of the common problems that you have faced as the owner of a long let in Malta? Share your experiences with them. They would love to hear from you all.

About the Author: This contribution has been made by Mirko Carabott who has written a number of articles on long let in Malta and provides fruitful information. For more information, please visit: www.easyrent.com.mt.

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