Cyprus property rental guide

Renting is a more simple process than buying a home. What follows is a simple Cyprus property rental guide.

1) Decide on the Basics

Before you start with your search, make sure you are crystal clear on what you are looking for. Cyprus property rental usually go on and off the market much faster than sale properties. If you are sure of what you are looking for, then you can quickly decide whether a proposed Cyprus property rental is right for you or not.

Area

Often people rent when they move into a new area, in order to learn more about their new surroundings. If this applies to you, do your homework and investigate the following before deciding on a particular area.

- Local transport
- Crime rate
- Amenities
- Landscape & Geography
- Neighbours

You will find useful background information on different areas on our website.

Types of accommodation

There are several different types of Cyprus property rentals you can choose from. Below is a list of the most common types.

- Flat or House - A private flat or house that is rented to one person or a family. This is generally the most expensive option.
- Flat or House Share - A group of people (often friends) share a private flat or house. The rent and other household bills are divided between all those living there.
- Studio - A one-room flat that contains the bedroom, living space, kitchen and bathroom. Some estate agents advertise "one bedroom" which is really "studios."
- Purpose Built - Similar to student accommodation. These places often have a few lockable bedrooms in a flat where residents share the kitchen and living space.

Standard of accommodation

Do you want your Cyprus property rental furnished or unfurnished? Here are some considerations to consider before making the decision:

- Cost - Often there is very little difference in cost between a furnished and unfurnished house or flat, so it may be worth keeping your options open.
- Hassle - If you aren't sure how long you'll be living in the area, and you don't have any furniture now, getting a furnished flat will save you a lot of headaches initially.
- Risk - If you or your friends and family are a bit sloppy, and you don't want the responsibility of taking care of someone else's furniture, then it may be worthwhile to take an unfurnished place and furnish it with rugged pieces. Otherwise, you risk losing your deposit.
- Taste - It is rare to find a landlord who shares your decorating sense. If you want your house to feel like your home, get an unfurnished place (you may not want to live with an ugly worn couch and stained carpet).
- Fresh Bedding - If you want the peace of mind of knowing who has slept in your bed, you may want to invest in a fresh mattress and fresh bedding and towels for yourself (or ask your landlord to do it).
- Functionality - Think about how you want to use the space. Would you rather have that extra room, that is now an office, be a nursery? Do you need more bookshelves and fewer chairs? These may all be reasons to consider unfurnished or part-furnished.

Your budget

Set a budget for yourself before you start viewing properties, and stick to it. Estate agents will always try to lure you into nicer places than you can afford. Resist the temptation, or be confident in your abilities to negotiate. Renting costs a bit more than the monthly rent. Here are some factors to consider:

Short term Cyprus property rental or Monthly Rent

Estate agents and Landlords advertise properties in Cyprus using both methods. Remember that a weekly rent of € 500 is not a monthly rent of CYP £ 2000. Multiply the weekly rent by 4.33 (=52 weeks in a year/12 months) to find out how much your monthly rent will be.
Other Expenses to add to the equation:

- Council Tax - based on the property valuation you are occupying. The tenant may be responsible for paying this. Ask the letting agent or landlord for an estimate on how much this will be and whether you are liable for this tax?
- Utility bills - Gas, water and Electricity will all be paid by you. Again, ask the letting agent or landlord for a breakdown of these costs.
- Service Charges - If you are living in a mansion block or some other shared building, you may have to pay service charges to maintain the common areas of the building. Some landlords will include this in the rent; others may add it as a surcharge.
- Contents Insurance - You are responsible for your contents, so it worth while for you to purchase insurance to protect against theft or damage. The costs will depend on the value of your contents. This will range from € 70-110 per annum.
- Cleaning - If you want to minimise the risk of losing your deposit due to abnormal wear and tear, it may be worthwhile to pay for a regular cleaning of the house or flat.

2) Begin your search

Once you are sure what you are looking for, you can start searching. As with any search, luck and timing play a part. The more time and effort you put into looking for a place, the more likely you'll find one that suits you.

Timing

Generally, landlords will start to advertise properties that will be available in about 4-6 weeks time. So, if you are looking to move in three months, it might be better to wait for six weeks before seriously going out to view properties. Otherwise, you might find yourself wasting your time and that of the agent or the landlord. Online Searching
There are dozens of websites that advertise Cyprus property rentals. But it is difficult if not impossible to know which sites are reliable and up-to-date. We update our website daily, so you can be assured that you are seeing the most recent changes from the owners who supply us their property details.

Here are some advantages to using a top-quality property site like ours:

- Ease of searching - you choose your desired location, property type, no. of bedrooms, and price range, and we show you immediately what is available.
- Indicates market strength - you'll see how strong or weak the rental market is from the numbers of properties available, and the rental prices posted.
- Helps you find agents - when you see a property you like, you may find that an estate agent has other similar properties available. This can help you decide which agencies you wish to work with.
- Saves you time - by finding properties first on the web, you save yourself a lot of time viewing properties that don't suit you.

Cyprus property rental offline searching

There are literally hundreds of offline places you can search through to find your ideal home. Here is a list of some of them:

- Newspapers - classified and property sections advertise Cyprus property rental everyday.
- Lettings Agents - visit estate agents in Cyprus and ask to see their list of currently available Cyprus property rentals. You'll be able to tell if the firm is worth working with by the response they give to your request.

Letting agents

Using a letting agent in Cyprus is the most common way to find a rental property. Make sure any estate agent you do use is licensed, because they have a code of practice that estate agents must subscribe to. Below are some tips in dealing with estate agents in Cyprus:

- Web Access - Be sure their rental properties are posted on an easy-to-use website, and updated regularly. So you can quickly see if the property is worth viewing before agreeing to give up your Saturday morning. Visit estate agents who post their properties on our website.
- Spread your Net - If you want fast action, leave your details with as many local estate agents as you can find.
- Persist - If an estate agent has nothing available immediately, he will usually put your details on file. He will assume that you've found a place within 1-2 weeks of starting your search, so be persistent in calling him if you're not successful in the initial stages of your hunt.
- Build Relationships - Cyprus property rentals go quickly, so phone everyday if you want to learn the latest news about what's available.
- The full Story - Landlords will usually consider reducing the price if their property has remained on the market longer than expected. Ask the estate agent to tell you the full story of the property, so you know if there is room for negotiation.
- Cyprus property rental costs - Letting agents in Cyprus charge certain costs before you move into a property. These costs include charges for checking your references, preparation of inventory, drawing up tenancy agreements, administration costs, etc. They can amount to CYP £ 200 - CYP £ 500, depending on the area, agency and property. Ask about these costs and who is responsible to pay for this if there is a charge.

Renting direct

There are advantages and disadvantages to renting directly from the owner. Here are some factors to keep in mind.

- Unregulated - Private Landlords do not have to be part of any professional body or trade association. They only have their own reputation to uphold. It is worthwhile asking for references from past tenants before signing a lease agreement.
- Less expensive - Renting direct can be less expensive than renting through an estate agent. You will not have the upfront administrative costs and your landlord won't have to pay an estate agent's fee.
- Flexible - Landlords can be more flexible than estate agents, and allow you to have pets or hang things from the wall.
- Standards of service - Landlords come in all shapes and sizes. Some will give you excellent service; others will pretend that you don't exist when you call to complain that the kitchen is flooding. The best advice is to work with someone who you think you can trust. The quality of the landlord is just as important as the quality of the home.

3) View the properties

Before you agree to view a property in Cyprus, be sure to ask the landlord or estate agent if it meets all your criteria. If you are looking for a two bedroom, you don't want to go on a tour of studios. Check out the location on a map before leaving, and try to bring someone else along if you can, just to help keep you focused on your priorities.

What questions to ask

You can ask anything you want. But, here are some typical questions:

Condition of property:

- What comes with the property? Which appliances and furniture, if any?
- Has this place ever been burgled? What is crime like in this area?
- Are there any problems with the water, heating or electricity that I should be aware of?
- Are there any structural problems I should be aware of?
- Is there any construction work planned on the property or nearby? (i.e. "New gutters need to be installed" means you might have leaking problems. "Road works across the street" means a lot of noise.)
- Where is the closest public transport?
- Where are the local schools?
- How much should I expect for council tax and utilities to total every month? In a shared building, ask about service charges and who is liable for these.
- Have their ever been any problems reported about the neighbours?

Tips to help you negotiate:

- How many people have viewed the property?
- How long has it been on the market?
- How long does the landlord want to rent it?
- Why is the landlord renting it?

What should I look for

Estate agents and landlords have a way of rushing tenants through a flat or house, making you feel awkward about inspecting it. But, you should. There are few things worse than moving into the ideal home, only to find that the toilets sing when flushed, the dishwasher dances across the kitchen floor, and the bathroom floods each time the tub is turned on. Take your time, and check out the following:

- Security - does it have an alarm system? What kind of lock? How many people have keys to the place? What about security from the garden and back entrance?
- General condition - Does the place look tired and uncared for? Or is it completely renovated? Are there cracks in the walls? Does the wallpaper date back to the 70s? If the place does not look cared for, then the landlord is probably unwilling to invest anything but the bare minimum to keep it going.
- Appliances - do they work? Don't be afraid to open up the fridge, turn on the microwave, the dishwasher and washing machine, just to check.
- Power Points - are there enough? Can you really make that spare room an office if it only has one socket?
- Heating and Water - Check out the heating units, make sure they are adequate. Ask to use the look while you are viewing, so you have the chance to flush the toilet and test out the hot water in the sink.
- Storage Space - is there enough for you now and throughout the term of your contract?
- Common Areas - if you are looking at flats, check out the common areas. Ask how post is delivered, cleaning of common areas, and maintenance of the grounds is arranged.
- Neighbourhood - would you feel "at home" here or not? How does this place look versus the other homes on the block?

4) Speedy secure

Rental properties in Cyprus can go quickly, so if you are very keen on a property, you should consider putting down a holding deposit as soon as possible.

References

Landlords want to protect their property, so naturally they want to credit check any prospective tenants before they move in. These references and other checks will normally be arranged by the letting agent. In most cases, you will be asked to pay an administration fee and complete the relevant paperwork which gives your consent to the agent to check your references. This fee is usually non-refundable. If you fail the credit check, you may not be entitled to your money back - check first before you make any payment. Passing the reference check will normally allow you to proceed to the next stage of signing the lease agreement and agreeing your move in dates.

- Referees usually include the following:
- Previous landlords - you will normally need to disclose where you have lived during the past 3 years
- Your bank - bank name, address, your account number, sort code, account name
- Current employer - your title, salary, a contact at work, and name of any previous employer
- Credit Checking agency (usually commissioned by letting agency).

If the landlord or letting agent considers you to be a 'risky' prospective tenant, (for example if you are self-employed with an irregular income), you may be asked to provide a Guarantor - someone willing to accept the financial and legal risk of you defaulting on your obligations whilst living in rented accommodation. A guarantor covers the monthly rental if you fail to pay, and agrees to pay damages, costs and expenses to the landlord if you don't observe your obligations to keep the property in good order.

Cyprus property rental deposit

The deposit is a sum paid by the tenant to help protect the landlord in the event of damage being caused at the property by the tenant or non-payment of rent.

- Usually a deposit is equivalent to 4-8 weeks of rent.
- The deposit is held throughout the term of the tenancy.
- If you return the property and any contents in the exactly the same condition in which you received it, you get back the original deposit payment. The tenant is not usually entitled to any interest on the deposit.

The deposit is not to be confused with the "first month's rent", which is also payable in advance.

5) Check inventory

Inventory lists the contents and condition of the flat or house when you move in. This is an important document, because it will be used as a measure of whether the place is "in the same condition" when you leave. You should go through the inventory with your landlord, so you are both agreed at the start about the condition of the home.

6) Sign Cyprus property rental agreement

The tenancy agreement is a legally binding contract between you, the tenant or "lessee", and the landlord or lessor. It sets out the terms of your agreement. You should always sign a tenancy agreement, even if you are renting from a friend. That way, you are clear on who is responsible for what from the beginning.

Tenant's rights & obligations

Every lease agreement is different, but this sets out the basic rights and responsibilities that should be included in your agreement.

Tenant is responsible for...

- Paying Rent on time
- Repairing damages caused by you or those living with you
- Paying household bills (electricity, gas, council tax, etc)
- Keeping house secure (setting alarm, locking doors, etc.)
- Keeping house clean and tidy
- Returning property in same state as you found it at beginning of tenancy
- Insuring your own content against damage.

Tenant has right to...

- Quiet enjoyment the property. This covers a lot of ground, but it essentially means the landlord cannot come in unannounced. He also cannot...
- Change locks without giving you warning and new keys
- Cut off utilities
- Tamper with your mail or possessions
- Verbally or physically threaten or abuse you
- Enter your home while you are out
- Neglect the property
- Prevent your friends from visiting.
- Use the property as a tenant, and treat it as your home (not run as a business premises; don't use it for illegal activities, etc.)

Landlord's rights and responsibilities

While every lease agreement is different, the list below is a brief description of the Landlord's terms.

Landlord is responsible for...

- Repairs and maintenance of property (he cannot charge tenant if damage not caused by tenant)
- Insure property is clean, tidy, and safe when tenant moves in
- Insure property is secure - locks and alarms installed
- Utilities are in good repair - plumbing, heating work
- Property is in good working order
- Fabric and structure of building is safe and sound
- Fabrics and furnishings meet regulation that requires them to fire resistant
- Gas appliances and pipes must be checked every 12 months
- Informing tenant he or she needs to enter the property (24 hours notice is usually considered sufficient)
- Returning tenant's deposit at the end of your tenure.

Landlord has the right to...

- Enter property with appropriate notification
- Collect overdue rent payments
- Seek possession of the property if you or someone living with you has damaged it.

7) Cyprus law on landlord and tenant

Cyprus legislation distinguishes between two categories relating to rentals, namely immovable property regulated by the Rent Control Law of 1991 and the free market.

The Rent Control Law, as amended, apply to leases of residential and commercial premises falling within the ambit of "Controlled Areas" as defined in the law, that is, towns, suburbs and rural areas which were completed before 29 December 1995. This legislation however does not extend to foreigners (except the non-citizen wife of a citizen of Cyprus) and legal entities controlled by non-residents. These persons are not covered by the Act and don't benefit from the relevant legislation.

On expiration of the tenancy or termination thereof, Cyprus law permits for an agreed escalation of 14% on the agreed rental but not before the lapse of a period of two years from the date of the last application or date of the agreed increase. In the event of disagreement the Rent Control Court will determine a reasonable rent. In reaching its decision the court will take into account the opinion of an official valuator, the age of the property, size, location and condition.

Evicting a tenant in Cyprus is extremely difficult. The Rent Control Law brought about the concept of a "statutory tenant" into the equation. This is a tenant who falling within the ambit of the Rent Control Law, refuses to vacate and remains in occupation after the expiration of the tenancy. He, the statutory tenant, can only be evicted in the following cases:-

- where he has failed to pay the rent.
- where the landlord requires the property for himself or members of his family or dependant parents
- where the landlord wishes to demolish and rebuild the property or to effect major alterations or reconstruction which will render the return of possession of the premises necessary.

Notwithstanding the above the intervention of the Rent Control Court may order the landlord to compensate the tenat by awarding him or her damages or even the right to occupy the property after its reconstruction. The damages that may be awarded could be equal to 9-18 months the rental and/or damages for loss of the goodwill of the business.

For properties built after 1995 the terms of the tenancy agreement apply to the relationship between the landlord and tenant.

The Rent Control Law of Cyprus does not apply to agricultural land, furnished apartment for less than 6 months, hotels and petrol stations.

8) Final preparations before move

The tenancy agreement is signed. You've done the inventory. You've paid your first month's rent and your deposit. You are ready to move in. If you just have a suitcase and a bottle of champagne to move in with, then you might not need this checklist. But, if you are moving from one home to another, then this can be helpful.

Checklist

- Arrange for your post to be redirected to new address
- Arrange for meter readings (electricity, gas) and disconnection of services
- Arrange for phone service to end on moving day
- Arrange for council to dispose of any large items that need to be thrown out before move
- Confirm date and time with removal company
- Start packing everything that is not essential everyday
- Write out instructions for any appliances you are leaving behind
- Settle any local bills
- Make sure all your essentials are packed in one place
- Put all your valuables and documents in a safe place and move them yourself
- Insure all meters have been read, and services will be disconnected
- Go through every room, closet and cabinet to make sure you have not left anything behind.

1) Landlords checklist

People rent their properties for various reasons. Some are relocating for a year and just want to cover the cost of their mortgage on their primary residence. Others purchase property solely for investment reasons. As a landlord, you should recognise your primary reason for renting your property. If you are an "absent landlord," it probably makes sense to use a managed service agency to handle your rental property. If you are planning to become a property tycoon, you might want to go it alone.

Before you advertise your property to let:

- Make sure your buildings and contents insurance is appropriate
- Take out lettings insurance
- Get gas appliances checked in accordance with gas regulations
- Check that furniture complies with Fire Safety Regulations

Before your tenant moves in, you should:

- Check your tenant's references
- Have lease reviewed by a solicitor and signed by all parties
- Take receipt of deposit and first rental payment
- Do inventory with the tenant and both of you should sign it
- Redirect your mail; tenants can't be relied on to forward your post
- Arrange for all meters to be read and the accounts to be transferred to new tenant
- Arrange for your council tax to be paid by new tenant if applicable

The day your tenant moves in, make sure:

- The property is as clean and tidy as you wish to find it on the day you take back possession
- There are instructions for all appliances
- There are cleaning instructions for any special furnishings
- All the vital connection points for gas, water and electricity are labeled - Fuses, switches in boiler, etc
- Security devices - alarms, locks, window locks, etc - are all demonstrated and explained to the tenant
- Emergency phone numbers are posted and fire extinguisher, smoke alarms and any other safety devices are explained
- Telephone line is available, and home telephone number is published. You should arrange for account to be transferred to tenant
- Provide a written procedure for how to handle emergencies (i.e. flooding, robbery, fire, etc). The procedure should explain who to contact first, second, etc. When the landlord wishes to be notified.