Are you new to the world of renting in Malta and Gozo? If you’re thinking about renting a place then these five must-know tips will guide you straight to the doorstep of your perfect rental home.
So far on the HomeRentMalta.com blog we explained how landlords can find great tenants, how tenants can make sure they deal with ethical and trustworthy landlords and weighed in upon the unfair utility bills saga plaguing renters.
In this article, we turn our attention on the actual rental property that could become your home in the near future. Here are the five things you need know before you start searching for your perfect rental home.
Five steps to find a rental home which fits with your budget and lifestyle
There are rental opportunities for all kinds of properties that appeal to different household types and budgets. Make your search for a rental home in Malta and Gozo smarter and more efficient by working out your answers to the follow questions:
- How much can I afford to pay in rent every month?
- What are the features you’re looking for in a rental home?
- What are your lifestyle needs?
- What rental type best suits your profile?
- What’s your action plan to make your dream a reality?
#1 – How much can I afford to pay in rent every month?
First of all, before you start hunting for a rental, you have to draw up a budget and get clear on how much of your monthly income you can use to pay the rent. The rule of thumb with renting is to spend no more than 30% of what you usually earn in a month on rent.
You can use this guideline to get an idea of the rent price you can realistically afford at the moment, so a person earning the average Malta monthly pay of around €1,400 should look at apartments renting at around €400 per month. Obviously, if you decide to split the rent with someone else then you’ll be able to live in a more expensive place.
#2 – What are the features you’re looking for in a rental home?
Besides the basics, the number of bedrooms and bathrooms in your ideal rental home, there are other features that you would like to have in your rental home. It makes sense to categorise these things as either must-haves or nice-to-haves.
This will help you filter out the rental homes that don’t interest you when searching a database like the one on HomeRentMalta.com and quickly find the ones that do. Differentiating between must-have and nice-to-have features will also allow you consider a wider range of properties, should the type of home you originally aimed be beyond your budget or possibly not on the market yet!
#3 – What are your lifestyle needs?
Your answers to this question will have a bearing on the kind of neighbourhood you should be looking at. If you’re a gym rat then naturally living close to a gym will be high on your priority list. Likewise, if you’re a massive party person then living very far away from Malta’s main entertainment areas could be a deal-breaker for you.
Thinking about your lifestyle needs allows you to make your rental search more strategic, narrowing down your search from region to locality to neighbourhood to a specific street!
#4 – Which rental type best suits your profile?
Depending on how big your household is and various other factors you will want to start excluding different rental types until you zoom in on the one or two that best fit your needs. Are you in the market for a townhouse or an apartment? Would like prefer living in a penthouse or would any flat do?
#5 – What’s your action plan to make your dream a reality?
Here’s where the rubber hits the road. Now that you sketched out your ideal kind of rental home it’s time to start searching. Most people nowadays find their new rental homes online. We’ve got a growing database ourselves on HomeRentMalta.com which you can check out here.
Don’t discount other ways of finding a rental home however. You can still find pretty good leads by asking your friends and family for referrals, looking through the classifieds section on the papers or simply keeping your eyes peeled for a ‘TO LET’ sign next time you’re out and about.
Following the steps above is probably the quickest way to connect the dots that will take you from thinking about renting to admiring the view from your sea-view balcony in your new home.
Are you making enough income to go down the rental route? Do you have a clear idea of what are the things you’re looking for in your ideal rental home and how your lifestyle choices will be affected by your final choice? What rental type fits best with your needs?
Most important of all, have you taken the first step that will connect you to landlords all across Malta and Gozo? Join HomeRentMalta.com today.
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Share your comments below and let us know what other topics related to renting in Malta you would like to read more about. We’ll be post articles every week on a variety of subjects that interest both landlords and tenants in Malta.
Do want to list your property for rent on HomeRentMalta.com and reach thousands of interested people who want to rent online? Contact us today and let us match you with the ideal tenant or landlord!