When organisations need to set up, or relocate, more often than not, they will consider leasing out a commercial property or office space that closely fits their business activity requirements. A Malta office rental process can be tedious and at times frustrating if certain considerations are not addressed. In this section we will discuss this process in Malta to help lighten your load and give you a better starting position.
Before starting the search, identify your organisation’s needs and delve into as much details as necessary. You will need to think about ease of access, parking facilities, neighbourhood requirements, location, size, layout, budget and more. For a more detailed article about these points, have a look at our Malta Office Space Guide.
The Malta office space rental process starts with an in-depth search of potential candidates. There are many channels through which you may start your office search. These range from the more traditional approaches like browsing through the classified sections of local newspapers to more contemporary channels like Google & other search engines, online portals and commercial property consultants in Malta.
If you’re serious about finding the best office or commercial space for your organisation, your best option would be to allow a commercial property consultant to guide you through the Malta office space rental process. A commercial property agency will have an impressively large database with detailed information about Malta office space for rent at any given time. With sound industry experience under their belt, they will be able to offer a close, if not perfect fitting match for your company requirements, and guide you through the leasing office space rental process seamlessly. Their in-the-market knowledge will also ensure that they have useful information about particular properties that may be coming available and can provide suggestions on current market trends and practices.
Once a number of properties have been short-listed and a final decision has been made on the most suitable option, the next move would be that of negotiating an agreement. There are a number of terms that have to be addressed in the agreement and these include; date of entry and rental duration, rental costs, deposit & payment terms, rent adjustments, state of finish, scope of use, maintenance, limitations, technical requirements, and related considerations.
A landlord will normally have their own agreement which will be reviewed and compared to the organisation’s objectives. If there is any misalignment anywhere, this should be addressed with the landlord, and when both parties are completely satisfied with the clauses included in the agreement, preparations for signing and deposit/rent transfers can follow. At times, negotiations can become delicate and in such situations, it is normally advantageous to have a negotiator to handle this crucial stage of the office space rental process. Using a third party as a buffer is an invaluable advantage that can create an insular layer to help dampen mis-communications between landlord and tenants. This is especially worthy when there are multiple parties interested in a particular commercial property and the dynamics of a ‘Seller’s market’ are in place, placing potential tenants in a less leveraged position. In situations such as this, skilled negotiators have successfully placed comparatively less costly offers at the top of the table above competitors.
Once the parties involved are in agreement on the various terms and conditions in the commercial property lease contract, a meeting may be scheduled for the final review and signature. As part of the Malta Office rental process, one should note that it is not uncommon for last minute changes to be brought up during this stage. Whilst not the most ethical of behaviours in business, last minute amendments may be of minimal impact, yet these should be scrutinised as to avoid any misunderstandings. Try to avoid this situation by hammering out any outstanding disagreements, before meeting up as to avoid any unexpected mishaps.
In most of the cases, at this stage of the Malta office space rental process, agreements go on seamlessly with the terms being reviewed by all parties and any clarifications are noted are addressed. Once everything has been reviewed the agreement can be signed and any payments to be affected should be done as specified per agreement.