Cyprus Property Forum for Buyers, Sellers & Investors

Hello Everyone,

I am considering letting out my holiday house as the times are hard. But have no idea where to even start.

a) I am not sure where to start looking for long term tenants. Are there letting agencies in Cyprus like in the UK? And how do they work? I have my own housekeeper/maintenance guy who is a breath of fresh air compared to many other companies I tried so I would want him to continue taking care of the house, and not to relinquish this to some other company. But I need an organisation to help me find tenants - nothing more than that.

b) Is there an Assured Tenancy Agreement alternative in Cyprus? A contract to protect my rights as a landlord and the tenant rights? I don’t live in Cyprus so I really need as much legal protection as possible. Or what do you suggest is a best way to deal with lettings in Cyprus?

c) I am also considering letting short term (holiday). For this I need to understand all the legal bits and pieces. Do you know of any resource where I can read on law regarding holiday lettings in Cyprus? e.g. Tax, health and safety, regulations etc.

d) Can you recommend a good lawyer for all the above if I would require one?

Thanks!!

Andrey

Hello Andrey

There are long-term rental agencies in Cyprus - a Google search should find some for you to contact.

The 'standard' tenancy agreements I've seen will not give you (or the tenant) full protection. I suggest you get in touch with one of the lawyers on the British High Commission's list - see https://www.gov.uk/government/uploads/s ... mplate.pdf

I should warn you that the laws here are very pro-tenant and it's difficult to get them out if they don't pay. It took a friend of mine eighteen months to get his non-paying tenants thrown out - and they left his house in quite a state.

I wouldn't even bother considering renting it out to tourists - there are thousands of tourist rentals standing empty and you shouldn't plan on more than 14 weeks/year occupancy. Although you will be able to charge a higher rent, you'll probably end up spending much more on management fees, cleaning and preparing the house for the next guests.

Regards,

Where is the house?

I have been letting mine out for the past 4 years,on and off, and use an Agent in Pafos who I find very helpful. I can pass on details if you pm me.

You will be lucky to get a return of 2.5 to 3% in my experience.

Best of luck