Renting Immovable Property
The rental of immovable property in Malta is subject to far less formality than the purchase process. The renting of a property would typically involve a written lease agreement setting out the general terms and conditions governing the rental of the property in question, namely a description of the property, the payment of rent, the warranty of all necessary permits by the landlord, where applicable, the provision of any security or damage deposit/s, the renewal of the lease period upon expiration and other matters of similar importance.
There are restrictions on rentals of property owned by foreign nationals. However, owners of properties which are located in special designated areas, or owners of other “High-end” properties may be permitted to lease their property as ‘First Class’ tourist accommodation by the Malta Tourism Authority. Such rental income is subject to the prevailing rate of income tax.
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