VISTA Court · Għargħur, Malta · Short-Let Management

Host MT
Management
Agreement

The commercial terms, property scope, and projected revenue framework for the management arrangement between Black Steel Ltd and Host MT.

Effective date
1st April 2026
Owner
Black Steel Ltd · C 105648
Manager
Aaron & Liam Formosa · Host MT
Initial term
12 months · 6-month renewals
Agreement overview
01 · Property scope
What Host MT manages

VISTA Court, Triq Stiefnu Zerafa, Għargħur, Malta. The following units are under management. The 4 garages are reserved by the Owner for storage only and are expressly excluded from this agreement.

Maisonettes
02
Apartments
06
Penthouses
02
Garages (excluded)
04
02 · Fee structure
How Host MT is paid

Guest funds flow directly to Black Steel Ltd. Host MT invoices monthly. Black Steel settles within 14 days of invoice receipt.

Management fee 10% of Net Revenue per calendar month
Net Revenue defined as Gross booking revenue less OTA/platform commissions
OTA commissions Borne by Black Steel Ltd · deducted before fee calculation
Guesty platform cost Borne by Host MT · not recoverable from Owner
Invoice cycle Issued within 3 business days of month-end
Payment terms 14 days from invoice date
Maintenance authority Up to €1,000 per incident without prior Owner approval
03 · Revenue projection
Annual forecast · 10 units

Based on market-rate pricing for new highly finished apartments in Għargħur, Malta. Seasonality modelled on Malta's tourism calendar.

Black Steel keeps
—
After OTA fees + Host MT
Host MT annual fee
—
10% of net revenue
Gross booking revenue
—
All 10 units · full year
Gross booking revenue
—
Less: OTA commissions (15%)
—
Less: Host MT fee (10% of net)
—
Black Steel net income
—
04 · Key terms
Agreement summary
Exclusivity Host MT is the exclusive manager · no third-party agents permitted
Guesty account Held by Host MT · Black Steel receives read-only or segregated access
Notice to terminate 30 days written notice by either party
On termination All credentials returned within 7 days · existing bookings honoured up to 60 days
Owner blackout 14 days advance written notice required
Liability Aaron Formosa and Liam Formosa jointly and severally liable
Governing law Laws of Malta · Maltese courts