Renting Your Property Long Term
We are often asked by owners of properties in Peyia and Coral Bay, if we can help them find a tenant for longterm rental – and the short answer is always, yes , as long as they are fully aware of the legal implications of renting out and their responsibilities towards their tenants and vice versa.
Renting a property out here, is no different to renting out in the UK. The contracts are legal and binding – despite many tenants and owners believing they can simply ‘change their mind’ and move on or try to, move out, the people involved.
We undertake a solid briefing period with the owners before taking on their property – then enter into a contract to do so. We also checkout the tenants as best we can before even putting the two parties together.
Some key things about long term rental are:
- the property is insured and ready for rental
- the tenant accepts the property as seen/explained and contracted
- the contract is legal and binding for the period for which it is set
- the tenant AND the owners have responsibilities towards each other – our role is to police these and help both parties
- rents MUST be paid, as must utilities, by the tenant
- the owner has a legal responsibility to declare the rental to the relevant authorities
The market place now is competitive and transient. With the economy being tough, fewer jobs mean fewer people looking for rented properties so owners have to be flexible and sensible – and open to offers/advice for consideration.
If you are an owner of a property who’d like some more information, please don’t hesitate to contact us on firstname.lastname@example.org