Guide to Renting Property in Cyprus

Home is where you make it... Although buying a property in Cyprus for permanent living is an established way of making the move to enjoy life in this fabulous Mediterranean island, the option of long term rental in Cyprus can be an equally attractive proposition, depending upon your personal priorities.

Some people prefer the security of having a 'home base' that doesn't commit them to significant capital investment in one location for any length of time. Indeed, if you are looking to buy but are unsure of exactly where to set up home, long term property rental is the ideal way of giving yourself the time and space to check out the lifestyle choices available to you in various locations. It may be that you are on a fixed term work assignment and need a place to call home for that period. Everyone's situation is different.

If long term rental is your preference, we advertise properties on behalf of registerred property management companies across the Republic of Cyprus.

 

 

Useful Information, Definitions and Recommendations;

Ingoing Costs


When you have found and agreed terms for the rental of a property, you will be expected to pay a deposit to secure the property. This 'deposit' is taken as a non-refundable reservation fee for the agreed rental of the property. Upon commencement of the tenancy, this amount will be held by the landlord or their managing agent and treated as the deposit against damages for the duration of the rental. The deposit will then be refundable upon expiry of the tenancy according to the terms of the contract.

Tenants can expect to pay one month’s rent in advance upon commencement of the rental, then subsequent monthly payments in advance, on the same day of each month.


Inventory


The landlord should have prepared a full inventory of the contents of the property, fixtures, fittings, furniture and effects, both inside and outside the property (even for unfurnished properties), noting any obvious dents, scratches and marks. This document should be signed with the tenancy agreement, or on the commencement date of the rental. Each party retains a copy of this written evidence as to the contents and condition of the property at the start of the rental.


Meter Readings/Utilities


You must note the meter readings on the commencement date of the rental. All utility bills (electricity, water, municipality taxes/refuse collection) and the liability for their payment will be transferred into your name.

Most municipalities in Cyprus charge a deposit against the property's water consumption, and this this must be paid by you, the tenant(s), for the duration of your occupation.

In our experience we have seen numerous landlords rent their property where they themselves are in arrears on water or municipality charges. It is essential that these accounts are settled in full upon commencement of the tenancy.


Insurance


Whereas the landlord should have insured the property against fire, earthquake and such other risks deemed necessary, you are still responsible for the insurance of your own personal effects and belongings (contents insurance).

 

 

Disclaimer: Whereas these pages have been read and approved by independent lawyers in Cyprus, we cannot accept any responsibility for the accuracy. The details are provided for guidance purposes only. Any decision to sell, purchase, rent or let a property should be based on advice and verification from your lawyer.