Despite the never-ending, island-wide construction, that ensures you’re never farther than 3 metres from a crane at any given time, there is not actually an abundance of offices in Malta for rent. Finding office space in Malta can be a long, complicated process and, especially for a start-up company, there are probably 100 things to consider that you hadn’t even thought about.
Consider the basics first
- Location- you need to find a place that current and potential employees will actually be willing and able to get to each day
- Affordability- whilst not paying through the roof for each square metre
- Serviced- the more services included in the office space, the less new people you need to hire to take care of it!
These are just the basics. You’ll also need to think about how much space you need (and do you rent for your current size, or to allow growth?), do you prefer shell form or furnished, have any special layout requirements (a call centre vs a financial institution will need a dramatically different use of space!) or maybe you need additional facilities like a specially designed server room.
Best location to rent an office in Malta
This is a tough one and will depend a lot on the industry your company works in and where your employees are likely to be living. Traffic and public transport are a nightmare in Malta, so it’s best if the office is in walking distance from where the majority of your talent pool lives.
Companies within the aviation or maritime industries are likely to want a very different office location from those companies looking for experienced iGaming professionals, IT experts or accountants.
Premium locations like Valletta, Sliema and St Julians will be surrounded by the highest concentration of living space, but perhaps your existing or target employees are mostly based on the far north, or south of the island. Plus, premium cities, like Valletta, will cost quite a bit more; you’ll get less space for your money, so it’s imperative you consider budget vs location and do your research.
What size office should I rent?
The general rule in Malta is to allow for 10m² per employee, but this can increase or decrease depending on the type of work your employees will be undertaking. In general, a call centre will have people packed in quite close, whereas financial advisors might need space for an office each, in order to discuss sensitive matters with their clients without being overheard.
You’ll need to consider whether you plan to grow within the lease period of the rented office in Malta. You might be 5, or 10, or 50 people now, but if you sign a contract for 5 years, you want to make sure you have the space to accommodate how many people you’re likely to be by the time the lease ends. If you rent space for your 10 people and grow to 30 within 2 years, you’ll end up cramped, with an unhappy workforce (I know, I found myself in this situation, with my desk sitting in the corridor outside my team office!) and maybe even needing to rent a second property. Not ideal.
How to office rental agreements work in Malta
Most landlords of office space will have their own, template agreement as a starting point, but feel free to negotiate. The basics will cover things like start date, length of the contract, deposit amount, payment terms (i.e how often and via what method), office finish and scope of use. Then there might be more specific additions depending on the type of office. You should also always be careful to check who is responsible for maintenance and repairs. Are you allowed to redecorate? Are you allowed to sublet space if you’re not using it?
Find a commercial property consultant
If by now, you’re freaking out at how much you need to think about, then you’re not alone. Finding offices to rent is an arduous task, so enlist the help of a commercial property consultant, like Malta Offices, to take the strain off.
They can help you determine things like location and budget, they’ll put in all the hard work to shortlist properties, they will assist in the contract negotiation and basically make the process a lot less scary than it would be alone.
Quick tips for renting office space in Malta
- Consider the location in terms of employees, not cost
- decide on a budget
- be ready with a sizeable deposit and to pay anything from 3 – 12 months upfront
- how much space will you need?
- do you rent for your current size, or with growth in mind?
- do you have industry-specific requirements?
- will you want a furnished place or will you pay to furnish it yourself?
- find a commercial property consultant to help you through the process.