What You Need to Know about Long Term Rental Property in Cyprus

Anyway, today's topic, long-term rental properties.

Most people understand, hopefully by now, that you have to have somewhere to live if you are relocating to Cyprus.

Two options, you either buy somewhere or you long-term rent somewhere.

Now, if you're privileged enough to have bought somewhere in the past or perhaps your parents did and you inherited it, well, that's wonderful.

That gives you somewhere to live, somewhere to go on the process of going through the immigration.

But of course, if you don't own somewhere, the only other alternative is to long term rent a property and the contract, the rental agreement must be for a period of 12 months and the electricity and water bill must be changed into your names so that you can proceed through the immigration process.

Now, it doesn't matter where you are in the world.

It's a very complex subject, long term rental properties.

We all go on the internet, as we do, and have a little look around, fall in love with the property, and maybe that property's to rent and maybe that property's not.

I think we understand what I'm talking about.

Sometimes they are a rouge, shall we say.

But in most cases, the property is available for rent, but sometimes it's not as simple as you think it is.

Often the property, shall we say, is available for long term rent, but it currently has a tenant and the person or entity, the company perhaps that owns that property knows that the tenant will be leaving, let's say at the end of August.

So they start to market that property perhaps in May or June, which would make sense.

I mean, I've got rental properties, so if I knew my tenant was leaving, I would want to start to market the property in the hope of finding another tenant very, very quickly.

Otherwise, the person who owns the property is losing money because the property is empty.

So it's complex, as I say.

So let's say you find a property that's available in Cyprus.

and you've fallen in love with it and you want to rent that property but you're coming to Cyprus in let's say July and the property will not be available until September.

Solution to that well there is one obviously you could go into short-term accommodation for those three months but that's probably not the best way to do it because short-term accommodation currently you know it's around about 80 to 100 to 120 euros per day So that's going to add up to quite a lot of money.

You'd be wiser to perhaps start that search again.

And this is where it gets complicated.

Many people make contact with us from the UK, from the States, from Canada, from Australia, and currently from Holland.

And they are looking for a long-term property for when they arrive in September.

Some of the properties are not available.