What Should Be The Terms And Conditions In The Contact Paper?

By Author: Mirko Carabott
Total Articles: 36
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If you have a property in Malta and you are interested to give the long let in Malta for rent then you have to draft out the terms and conditions properly. You need to take time and think which are the areas that should be covered as part of the terms and conditions, which you will mention in the contract. There are many property owners who are confused and are clueless about what to include and what to exclude. So we thought of discussing the most important things that you should include in the contract.

The contract should clearly mention the name of the people involved i.e. the property owner’s name and the individual’s name that is renting it out. The name should be followed by the permanent address of both the parties concerned.
The type of property should be mentioned - are you renting it out for residential purpose or commercial purpose. There are many residential complexes that do not allow an office to be set up in the premises. So be very clear about this point.
Mention the rent clearly. You should also mention the percentage ...
... of increase in the rent amount every year. There should be no miscommunication or misunderstanding on this part.
Are you renting the property on an annual basis or a monthly one? Whatever the duration of the renting period, it should be mentioned clearly in the contract paper for the tenant see.
If you don’t want pets in your property, you should mention that in the contract. There are many people who have pets and if they move in they will bring their pets along with them. Hence, it is important to mention that in the contract.

You should get the contract drafted under the guidance of your lawyer. Tell him what are the things that you want as part of the contract so that he can use legal words and draft the document properly. Make sure that the contract is signed by you, the tenant and in front of two witnesses - who need to sign the document as well. Get two copies made. One should be with you and you need to give the other one to the tenant. In case, the tenant wants some portion of the contract to be changed, be open to discussion and put forward your views. At times, you may have to change some parts of the contract so that both of you are happy with it.



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.