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Blog / The Property Market / Short Let Renting Made Simple

Short Let Renting Made Simple

By Real Estate Malta | 18 October 2018

The fast-expanding property market in Malta made it necessary for property owners to differentiate rental properties by the length of time they are being leased for. Long-term rentals cover usually a period of longer than 6 months. Short term rentals indicate a term between a few days up to not more than 6 months.

Short term properties are a great alternative to hotels, yet there is a wider range of people that can find this opportunity suitable for their current lifestyle.

Short term rental is an ideal option for new home buyers who are finishing their new home in a couple of days or months. Summer jobs, permanent professionals or student relocations, as well as interns who can spend up to a few months as well as holidaymakers, can find short-lets as their best solution!

Properties can be ranked by cost, style, modernity, location, size, number of rooms, etc. The difference between the cost of hotel prices and short let prices is quite big. 

In Malta, you can see mainly two kinds or charging system, and that would be daily or weekly payment. It is rare to find monthly fees, but it is still possible. This gives you the freedom of changing accommodations anytime you want to, either because you are not satisfied or you need to move again for some reason, due to life events that are out of your control. This flexibility can be a great help, since not like in short-term leasing, your notice can be a few days or weeks, and you will not lose deposit for breaking any contract. Also not so common, but in case you would like to stay in the apartment longer than 6 months, there are some landlords and owners who are ready to take steps into this direction and would have no problem about converting your short-term lease into a long-term one without additional costs.

What to keep in mind when planning a short-term property lease

 

1. Location - the critical point of decision making, simply because if you manage to stay close to your workplace, school it can make your life easier to get there by walk at any given time. I will provide a chart below that will give you a basic idea about prices depending on locations.

 2. Public transport might be the first on your checklist whenever your home will be distant from your school or workplace. Maltese public transport is constantly making effort to improve the customer experience, but one has to keep in mind that Malta is a country with no railways but more than 250 000 cars, and that can mean one thing for sure - traffic. Try to search for connection points where you have more than 1 optional bus-line in the area, and don’t hesitate to vary your locations for a couple of hundred meters, because believe me, it can make a difference when you have to run after a bus.

 3. Furniture - Basic ones like sofa, beds, wardrobes, TV, lamps, kitchen and bathroom equipment.
99% per cent of the cases short let's are taking place in apartments that are fully furnished, however, there can be differences in accessories and decoration. Usually, all the things regarding house equipment that you might essentially need will be provided.

 4. Amenities - owners and landlords, in general, are making sure that there is wi-fi connection. It should be written in the description of the property but if it’s not, then just ask about it, to be on the safe side. Wi-fi and television are to be as basic these days as electricity and water, yet if you are lucky enough you can catch a place with a tub instead of a shower, dryer, dishwasher or even a washing machine.

 5. Luxuries - If you are chasing a little bit more of luxury there are tons of houses, villas and penthouses that are kept in an immaculate condition, provided with private swimming pools, jacuzzis, enormous terraces, private housekeeping staff. Obviously, they will appear with a completely different range of prices.

 The list of sites that are dedicated to helping short-let seekers are endless; some of the ones with the best reviews in Malta are Malta Lets, Home To Go, Short Lets Malta and Simon Mamo and Airbnb.

Prices to expect when booking a Short-Let

Average prices of short let properties in the most popular areas of Malta and Gozo. These vary depending the time of year you visit. Prices below indicate the daily rental fee.

 

Sliema

Gzira

San Julians

Saint Paul’s Bay

Valletta

Mellieha

Gozo

Apartment

€ 60-250

€ 45-235

€ 50-370

€ 35-120

 € 65-230

€ 50-195

€ 35-200

Penthouse

€ 65-330

€ 55-300

€ 70-370

€ 55-250

€ 70-320

€ 55-245

€ 50-230

Maisonette

€ 50-240

€ 45-220

€ 60-245

€ 35-190

€ 65-280

€ 45-160

€ 40-175

Villa

€ 130-650

€ 115-500

€ 160-1450

 € 105-485

€ 230-1580

€ 190-1300

€ 145-1560

Luxury

Daily

Price

From

120

Until

The

Sky

 

Prices are commonly negotiable if you inform your landlord that you wish to lease for several weeks or months. Unfortunately, short-let oriented sites do not provide visibility for optional monthly fees. 

 

 

Sliema

Gzira

San Julians

Saint Paul’s Bay

Valletta

Mellieha

Gozo

Apartment

€ 1250-2500

€ 800-1500

€ 1100-3500

€ 500-1100

 € 900-2500

€ 800-1450

€ 450-1100

Penthouse

€ 1150-2700

€ 750-1700

€ 800-2300

€ 750-1400

€ 1000-3250

€ 700-1350

€ 800-1500

Maisonette

€ 800-1450

€ 700-1100

€ 680-2500

€ 750-1000

€ 800-2300

€ 600-1100

€ 550-2300

Villa

€ 2500-5700

/

€ 2800-6500

/

€ 1300-3600

€ 1800-3150

€ 1000-5500

 

Hopefully, with the information above, you have a clear picture of your options and what differentiate the price of your short let. We hope you are more confident to give short-lets a try.  

We wish you a pleasant stay in Malta!