Renting a property in Cyprus: everything you should know

The demand for renting a property in Cyprus has been a dynamic market the past couple of years with a huge flow of 3^rd country nationals relocating to Cyprus and therefore, looking for a property to rent.

Before making any definite decisions, tenants should be aware of their rights and obligations when renting a property. Below are the factors that tenants should take into account when deciding to enter into a contractual relationship with a landlord for the rent of a property.

✔ Who are you dealing with?

It is important to establish that you are dealing with the landlord or an authorized representative of the landlord and the person that will sign the rental agreement is duly authorized to enter into a contractual relationship with you.

✔ The Rental Agreement

Read the rental agreement. The agreement should be drawn up in a language that you understand and you should not sign anything if it is in a language which you do not understand. The agreement should include:

• Name and details of the parties who concluded the agreement
• The subject of the contract, i.e. premises that are rented: address and some other details (area, floor, number of rooms, etc.)
• Lease term. Agreements are usually concluded for 12 months with subsequent automatic prolongation if none of the parties declares their intention to terminate it before the expiration of the contract
• Rental amount and payment procedure. The amount, payment terms and frequency of payments should be described.
• Terms of payment for telephone communications, cable TV, Internet, water and electricity. Before signing the contract, be sure to ask the landlord to show the last paid invoices for the above services. This allows not only to avoid unpleasant debt surprises, but also to present a real picture of the cost of renting the property (how much your bills will be)
• Community expenses included in the rent. In some cases, the tenant may additionally be required to pay for garbage collection, gardening services, pool cleaning, municipal fees and taxes
• Deposit return conditions.
• Possibility and conditions of early termination.
• The order of the landlord’s visits

Read all the terms and pay attention to the termination clauses and the rules of the property. Can you terminate without paying penalties? Do you have to give notice of termination? Is the renting period automatically renewed? Is the rent amount automatically increase every year? Are pets allowed?

✔ Make a detailed inventory list

It is extremely important to make a detailed list of all the items of the property including all fixtures and fittings and to take photographs of everything. If something is damaged, make a relevant note in the inventory list.

✔ Engage a lawyer

Especially if this is your first time renting in Cyprus, you should engage a lawyer to review the tenancy agreement and explain to you in details your obligations and rights. The lawyer may also assist you in stamping the rental agreement at the tax authorities, transferring the utilities on your name, etc.

By trusting our Cyprus team of lawyers, you will protect your interests and reduce the risk of unforeseen problems when renting a property.

As a result, renting a property in Cyprus will become a safer and more comfortable process if you seek the help of a professional lawyer.

Contact us and we will be happy to arrange a meeting for you at our office in Larnaca or online!