Potential landlord queries

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Hoffman
Posts: 4
Joined: 11 Jul 2016 07:41

Potential landlord queries

Post by Hoffman » 20 Mar 2018 12:57

Good morning Nigel
Unfortunately due to change in my personal situation, I need to return permanently to the UK. I have a property here which I would like to sell but without Title Deeds I don't think there is much chance. So I have decided to rent out my Cyprus home long-term in the hope that eventually Title will be got and a sale could take place.
As being a landlord would be new to me, I am hoping for some advice. Who would be the best person to draw up a tenancy agreement? I am fairly confident that I will be able to secure a suitable tenant and I have a local friend who would manage it for me. Would a lawyer draw up an agreement? I would rather not use an estate agent.
Any other information you think would be useful to me, I would be grateful to hear from you.
Thanks in advance
Hoffman



Nigel Howarth
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Re: Potential landlord queries

Post by Nigel Howarth » 20 Mar 2018 16:40

Kalimera Hoffman

You should be able find tenancy agreements on the web or a from a rental agency. Lawyers in Cyprus are expensive and you could end up paying a lot of money for a simple contract.

If the monthly rental exceeds €500, you will need to get revenue stamps and you will find more information here on tenancy agreements.

You'll need to settle your tax affairs with the Tax Department before you return to the UK. And any income you get from renting will be iable for tax in the UK.

I focus on buying and selling, I don't have that much knowledge on renting, but there may be some others here who can give you further advice.

Regards,


Nigel Howarth
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Hoffman
Posts: 4
Joined: 11 Jul 2016 07:41

Re: Potential landlord queries

Post by Hoffman » 21 Mar 2018 10:24

Thank you Nigel for your reply -I appreciate your expertise lies with buying and selling, but your advice is much appreciated.
Of course I welcome any advice from members of this forum.
Regards
H



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