What does it mean long-term rent in Cyprus?

Долгосрочная аренда недвижимости на Кипре
4 April 2020 Liza Medvetskaya

Cyprus - is one of the incredible places in the World. It is very beautiful island, that covered by legends and myth, with amazing history and nature that attract the attention of the huge number of foreigners. 

Some people come for relax, others (the most fascinated) decide to make a big step in their life and move to Cyprus for permanent residence. Also, some people come for long time in order to find a job or study in University of Cyprus. 

By the way, the main question for everyone is “Where to find a home in Cyprus?"

Of course, the one option is - hotel. But the most convenient and profitable is renting an apartment / maisonette / or villa in Cyprus. It will help to avoid the hustle of the hotel and feel like at home, and also save your money. Especially for those who is going to stay longer here.

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The real estate in Cyprus are available for short- and long-term period. 

The short term - is a daily rent and in the most cases no more, then one month. Also, the rental of real estate in Cyprus for the entire summer period is also considered like short-term. Usually, this type of rental is used by tourists.

Long-term rental in Cyprus is a renting of housing for a period of one year or more.

In this case, a tenant should sign an agreement with a landlord and make a prepayment for the first month of living and a deposit. This document is a guarantee of compliance with the rights of the tenant and a guarantee of the absence of unlawful claims on the part of the landlord.

This type of the renting is more profitable for the tenant, as a short term rent in Cyprus. For example, the apartments in the resort area with a gorgeous and mountain views can be rented for a long time cheaper than in the case of daily rent.

The best time for finding long-term rent in Cyprus is from November to March, and the most inappropriate from May to October, when the island has a tourist season.

  • The price of rental housing in Cyprus, generates a number of factors:
  • City and are, where it is located
  • Quality of housing
  • Type of housing (apartment, maisonette, detached house, townhouse, villa)
  • How far from the sea and tourist area
  • Utilities

Долгосрочная аренда недвижимости на Кипре

Long-term rent in Cyprus has some features.

Before signing an Agreement, the customer should carefully study the terms of this Agreement, and check the documents of the ownership. The long term rental Agreement of the real estate can be signed only with owner, or with an authorised person or a management company, that notarised power of attorney. 

The Cyprus property rental Agreement usually indicates the following:

  • Name, Surname of the both sides 
  • Subject of the Agreement i.e. premises for rent: address, its characteristics (area, floor, number of rooms, etc.)
  • Lease term. Usually, such Agreement signed within 12x months wit automatic prolongation
  • Lease term. Such agreements are usually concluded within 12 months with automatic prolongation, if neither of the parties declares their intention to terminate it no later than one month before the expiration of the contract
  • Amount for renting and settlement procedure. The amount, terms of payment and frequency of payments are described in the Agreement.
  • Payment terms for telephone, cable TV, Internet, water and for electricity. Before signing the contract, you should definitely ask the Landlord to show the last paid bills for the above services.
  •  Utility bills included in the rent. In some cases, the tenant may additionally be required to pay for garbage collection, gardener services, pool cleaning, municipal fees and taxes
  • Responsibilities of the lessee and lessor: procedure for troubleshooting, minor and major breakdowns, repairs, etc.
  • How to get deposit back? It will be better to check the property and indicate the condition of it even before the moment of arrival in the new dwelling, so as not to get into an unpleasant situation when you have to pay the entire deposit to compensate for property damage.
  • The possibility and conditions for early termination of Agreement. Usually, in case of early termination, the Tenant is charged a penalty in the amount of the deposit. However, you need to be careful, because the condition of mandatory payment for the entire stay can be spelled out in the contract
  • The rules, when the Landlord can visit your rental housing. Without clarification of such conditions, the owner of the property can enter the apartment or house at any time and be there as long as necessary.

The detailed fixation of all the nuances in the Leasing Agreement in Cyprus can subsequently play an important role, both for the Landlord and the Tenant.

So, if you need to find a suitable option for long-term rent in Cyprus, theTenant does not have to deal with this issue by himself. He just needs to contact a real estate agency. In this case, the client does not bear any additional costs - all expenses for the services of a professional realtor are paid by the assistant of the property in Cyprus.

Source: DOM LiVE
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