At MINK Homes, we specialise in property management of Maltese private owned properties for short-term and holiday rentals. We offer our guests 24/7 customer support and detailed instructions to ensure a smooth and safe booking. Moreover, we work hand in hand with a dedicated cleaning staff to make sure our apartments are impeccable cleaned before you move in and to offer extra cleaning and stocking services during your stay.

For owners, entrusting your property to our team means considerable time savings and increased profitability. All you have to do is leave the management to us and we'll take care of the rest! You'll earn income while freeing yourself from the day-to-day hassles of renting.

We tackle every crucial aspect of property management. With us, it's more than just property management, it's peace of mind for landlords and a comfortable experience for tenants. If you're looking to maximise your income without the stress of property management, MINK Homes is here to help.

Your property well-being is our priority!

Short Let Property Management

MINK Homes offers to take on the full short-let operations of the Property. To offer this service as transparent as possible and at a minimum involvement needed from the Owner, MINK Homes handles the following services and procedures:

A close up of a logo

Description automatically generated

Listing & Leasing

· MINK Homes will lease the property from the Owner with the right to sublease. The lease agreement also stipulates the property management obligations that MINK Homes has to carry out.

· Applying for the MTA Holiday Premises License. MINK Homes will assist the Owner filling out the necessary paperwork and submit the application.

· Staging and equipping the property with fire & safety items and other smaller items such as bedside lamps to acquire the MTA Holiday Premises License

· Listing of the Property with online booking platforms including MINK Homes own booking website and promotion thereof. The listing will include quality pictures, a detailed description of the property and surrounding area with the aim to attract tourists in specific and to realize a high occupancy rate. For profit maximisation, MINK Homes will adjust prices on a constant basis meeting market demand and communicate with guests prior to-, during and after a booking in order to receive positive reviews.

A close up of a sign

Description automatically generated

Services Level Agreement (SLA)

· Creating a property portfolio for the purpose to efficiently operate the property for the short-let rental. MINK Homes will collect all necessary information and set up powers of attorney (insurance companies, ARMS, etc) in order to act on the owner’s behalf in relation to the Property. MINK Homes will create a detailed inventory list accompanied with pictures and a documentation of all appliances and furniture collecting user manuals and warranties. A Service Level Agreement (SLA) will be set up with the owner which will be customized to the Owner’s request in relation to maintenance and repairs (other than the regular maintenance that MINK Homes will perform during the checks between tenancy) and the expenditure thereof.

Icon

Description automatically generated

Cleaning & Maintenance

· Upon arrival of new guests, MINK Homes will clean the Property, provide with clean bed linen, towels, rugs etc. and stock the Property with sanitary items such as toilet paper, hand soap, washing detergents, trash bin liners etc. MINK Homes will also double-check that all fixed items, furniture and appliances are working properly and perform maintenance of an ordinary nature that requires not more than 30 minutes of labour such as replacing batteries, lightbulbs, clearing of sinks etc. Any other type of maintenance or repairs will be reported to the Owner and dealt with according the SLA. If any broken items or damages are detected MINK Homes will make a claim with the guests and/or the online booking platforms for a refund.

A picture containing object

Description automatically generated

Accounting & Reporting

· Full accounting and collection of the revenue and accounting and payments of expenditure and applicable taxes involved in the short-let operations of the Property. The scope of the expenditures that MINK Homes will administer will be set up in the SLA. All transactions will be presented in monthly reports or at any time upon Owner’s request. The positive balance will be transferred to the owner upon a monthly basis. MINK Homes will be leasing the property with the right to sublease. Therefore, all rental income, VAT and ECO Tax will be declared by MINK Homes and MINK Homes pays the Owner rent which the owner has to declare to the Inland Revenue Department on an annual basis as a long let rent. The Owner is responsible for submitting his/her own taxes. MINK Homes will provide the owner with supporting documents.

Icon

Description automatically generated

Property management fees

· A start-up fee of €150 which will include the listing of the Property with online booking platforms (see section Listing & Leasing) or a start-up fee of €400 where MINK Homes will also prepare the Property to meet the MTA requirements and submit the MTA Holiday Premises License application as described in the section Listing & Leasing). Please note that any material costs and the MTA application fees are not included in the start-up fee. For refurbishments of the property with furniture or other larger maintenance requests such as repainting, retiling etc. is subject to a separate quote.

· The cleaning fee is set after inspecting the Property to cover for cleaning, laundry, garbage collection and stocking of the Property with the sanitary and cleaning items. This fee is payable by the guests and does not affect your income.

· MINK Homes offers the above-mentioned services at a standard rate of 15% from the net pay-out received from a booking source deducted by the cleaning fee.

· Example of management fee for a single booking:

A guest books the Property through a booking source such as AIRBNB for 5 nights at €150 plus €70 cleaning fee, a total of €820. AIRBNB charges a booking commission of 15%* on the total booking amount (what guests pay) and pays the Company the net pay-out of €697 (5 nights X €150 + €70 cleaning fee – 15% booking fee). The property management fee will then amount to 15 % of €628.50 (net pay-out from booking source – cleaning fee) = €94.05**

*Please note that the booking fees vary between the different online booking platforms and some booking sources. The gross rental income calculated in the projections are based on net pay-out amounts only.
** MINK Homes deducts the VAT, ECO Tax, management fee and cleaning fee from the rent payable to the Owner. The difference between what MINK Homes receives in rent from booking platforms and pays in rent to the Owner is considered the company’s rent gain and therefore the management fee and cleaning fee are not subject to VAT.

· If MINK Homes is the direct booking source then MINK Homes will charge a 10% booking fee of the whole booking amount. (MINK Homes booking fee is much lower than for example booking.com who charge 19.2% and AIRBNB who charge 15%. MINK Homes uses a price parity tool to increase rates across different booking platforms according to their mark-ups)

· Please note that the only material costs included in the property management fees are the stocking of the Property with sanitary and cleaning items. The Company will administer and pay all other costs such as the MTA license fees through the Client deposit account according the agreed SLA.

Listing of the Property

Short lets or vacation rentals is all about making sure your property is top listed on online booking sites and making sure that when visitors click on your property that they want to book. To achieve this goal, we stage your property and make quality pictures and an attractive and thorough description. Finally, the guest’s reviews are paramount for an increase in bookings and so we work hard on the guests’ experiences of their stay which already starts the moment they book. We give guests all the check-in information needed including directions and advice on how to get to the property and we leave detailed information about the property and surroundings in a brochure in the property as well. MINK HOMES uses a sophisticated property management tool to control all the listings, bookings, guest communication, cleaning and maintenance of the properties. The online booking platforms we use to list the properties in our portfolio are AIRBNB, Booking.com, HomeAway, VRBO and our own direct booking website www.minkhomes.eu

Get in touch with us and get projections on the potential rent income!

Contact us on +356 27474955 or email info@minkhomes.eu. We’ll be happy to explain how we work in further detail and upon inspection of your property we can issue you projections on the potential rent income we can generate for your property.

Need a Property Manager?