Renovation of a rented apartment is a very controversial issue. Basically, tenants prefer to move into housing that initially looks perfect and has a certain level of comfort.
But sometimes you can find your ideal real estate to rent, but it requires repairs. Is it worth getting involved in such an adventure or is it better to find an option with good finishes and furniture?
Pros and cons of an apartment without renovation
What's the lack of repair? Sometimes you just need to paint the walls, in the other case you renovate everything. Anyway first you need to make a list of the advantages and disadvantages of an apartment / house. What are the really significant advantages:
- housing is in a very convenient location
- the apartment has a good layout: it has high ceilings, many rooms, the house (including the entrance) is in good condition in general
- very low rental price
- the landlord adequately estimates the scale of the renovation and is ready to get involved in it as much as possible.
But what can be said against renovation in a rented property:
- in any case, the tenant have to spend his time: from a week to several months
- there may be serious disagreements with the owners about small and large things: from the color of the walls to throwing away unnecessary furniture
- Allergy sufferers, families with small children or pets have to look for another temporary housing during the renovation.
You need to adequately compare the pros and cons, your time, effort and desire. And only then to decide whether it is worth doing repairs in someone else's, in fact, apartment.
How to explain to a landlord that repairs are needed?
So, you like the apartment, but it obviously needs some refreshment. Touch up marks on walls, change falling tiles, fix or install new plumbing...
Not everyone agrees to bear such costs. You can often hear the argument: "Before you, there were tenants here, and everything suited them." If at the stage of inspection of the apartment a landlord doesn't have adequately understand their property quality and condition, it is better to find another place. Otherwise, you will have to pay for everything you want to change.
If the landlord generally agrees to the cosmetic repair work, then it is imperative to prescribe this in the contract. The more specific, the better.
For example: "The Lessor undertakes to completely change the faucets and shower in the bathroom at its own expense within 3 months from the moment the Tenant moves in."
It is also in the interests of both parties to inspect the furniture and equipment and draw up an inventory. All suspicious (old) things must be written out separately and in the contract indicate: "In the event of a breakdown of the refrigerator / washing machine / peeling wallpaper, etc., the Lessor undertakes to carry out repairs." Or you can divide the costs: 50x50 or 30x70, but all this must be discussed.
How to calculate the budget costs
The feasibility of repairs is most easily ascertained by comparing costs and benefits. For example, you rent an apartment €100 cheaper than you could find in this area. This means that per year (and usually this is the minimum long-term rental period in Cyprus), you will save €1200.
If the repair comes out at an amount equal to or more, you will be in the red. Why? Because your energy, time, and even nerves are spent.
It is reasonable to agree to repairs if you are in the black at least one month's payment. Or the repair is financed by the landlord, and you only spend your time.
Contract / receipt execution
Before starting the repair, you need to transfer the verbal agreement to paper. If the contract has already been drawn up, be sure to make an annex to it.
The appendix states the following:
- repair time
- list of repair work
- who pays for repairs
- what is forbidden for the tenant to do (what if the landlord forbids throwing some things away?)
- who pays in unforeseen situations (the tap broke down, the stove stopped working, etc.).
An important point in the contract is that it excludes the eviction of tenants immediately after the renovation or the rise in rent. Often there are situations when a landlord, seeing his apartment in excellent condition, decided to raise its cost or even kicked out the tenants.
Therefore, it is prescribed in the contract or application that during the entire period of the lease (and even with its extension) the amount and terms of payment for the month remain the same.
What mistakes must be avoided
The main advice is to use common sense and avoid hasty decisions. Do not be guided only by emotions, be sure to estimate everything if you are thinking about doing repairs after all.
What you shouldn't do 100% of the time:
- make oral agreements, everything must be done strictly through an agreement and receipts
- to repair property and throw something in secret
- move into an unrepaired apartment and hope that the landlord's conscience becomes their guide
- throw away receipts for repairs, keep them until you move out
- to start a long renovation, life is unpredictable, who knows, it may be necessary to move soon.
This is the simplest advice to avoid bad situations. Look for accommodation on reliable sites. DOM real estate agency specialists are at your service and can help you to find property in Cyprus, according to your request. Be careful when getting to know the apartment.
- How to prepare an apartment or house in Cyprus for sale (link)
- Real estate hot deals in Cyprus: where to look and how to avoid fraud? (link)
- Humidity and mold in your Cyprus home (link)
- Mortgages in Cyprus (link)
- Sale and purchase of property in Cyprus. Most important things to know (link)
- Types of property in Cyprus (link)
- Recommended appliances and furniture to be in a rental property (link)
- How to look for your dream home in Cyprus (link)