Cyprus Property Forum for Buyers, Sellers & Investors

Hi,
My mother-in-law, Greek Cypriot national with UK dual citizenship has been resident in Kolossi for the last 27 years after returning to Cyprus and building her house. She has now returned to the UK to be with her family, and sadly looks like she'll be going into residential care.
The question is, is it legal for her to rent out her property as a holiday let through a management company and can anyone recommend a reputable one, or, should we sell up and use the funds for her care?

Thanks

Hi kml666 and welcome to the forum.

A new law regulating self-catering rentals came into force in January.

Although your mother-in-law will be able to rent her property, there are a number of conditions that have to be met. (And I expect the property will need to be thoroughly cleaned before each letting because of COVID-19.

I think it would be easier if she rented it long term. Although the weekly rate will be lower, she'll not have to worry about the vagaries of the tourist market.

I can't help with letting agencies.

Regards,

I agree with Nigel

We have a 3 bed villa that we used to do holiday lets from.
We could get £1K per week during the peak season but when it was empty we still had to pay all the bills for no income.

Good tenants = no bills and a more peaceful life!