Cyprus Property Forum for Buyers, Sellers & Investors

I'm hoping someone can help.

We bought a house on a complex a few years ago and have used it for family and friends. We are now hoping to rent it out via booking.com and have applied for a CTO licence.

It has been brought to my attention that the management company will be including a clause in the management constitution to say that no property can be let out to holiday makers. Is this clause legally binding and can they enforce this as it's my house which is fully paid for and title deeds held. Obviously we won't be doing anything until we have the correct licence.

We don't want to upset anyone but would like to know where we stand legally.

Many thanks

Hi Michelle

If your Management Committee wishes to stop owners renting their property, they will have to amend the standard regulations contained in the law.

The law states "The owners of the units of jointly-owned buildings may draw up Regulations and amend, revise, replace or revoke them by a decision of the owners of at least seventy-five per cent (75%) of the joint ownership, except if a different percentage is prescribed by or by virtue of this Part in relation to any specific matter." (Would 75% of the ownership agree to the change?)

It also states "No Regulation and no amendment, revision, replacement or revocation of any Regulation may have the effect of - (b) terminating, altering or abolishing the rights of any owner of a unit;" (You have the right to rent your property.)

In my opinion, your Management Committee cannot change the Regulations in a way that will prevent you from renting your property.

I suggest you have my opinion confirmed by a lawyer.

Regards,

Thank you so much for your speedy and comprehensive response. I have emailed my solicitor to ask the question as suggested.

Michelle

Thanks Nigel I just wanted to let you know that my solicitor has confirmed the same as you - thank you

That's a relief Michelle

Regards,