What You Should Know About Leasing Agents in Cyprus

If you have purchased a home abroad in Cyprus and want to rent it out for some extra money then you may be interested in acquiring the services of a local leasing agent in Cyprus. While short rent renting is illegal for non resident foreigners that own a home overseas in Cyprus there are numerous leasing agents offering services to lease your home for you and some even offer a buy to rent service.

Since you are likely to be very far away from Cyprus when you are not in fact using your home there it obviously makes a lot of sense to have someone stationed in Cyprus to attend to the affairs of leasing out your home there. As a definite time saver you could employ the services of a leasing agent to take care of everything thing from advertising the rental to finding people to rent out your place.

Remember that leasing agents work on commission. Typically the rates for leasing agents in Cyprus are between 10 and 20 percent of the rental income. You can recoup some of this by charging higher rental prices. Leasing agents offer a variety of services such as cleaning and maintenance and advertising. If you want to have your rental home listed in the agents catalog or website the cut-off time is typically in September.

If you are planning on getting a leasing agent you should ask around for referrals and get your leasing agent from a reputable business. It is not uncommon to ask to see actual income received from other properties a company manages. You can also ask a company for names of satisfied clients that you can call for information. There are a number of things you should remember to ask a potential leasing agent. You should ask when the income is paid to you, what charges you can expect from them, if they offer detailed information for income and expenses on your property, how properties are marketed and to who, and when you can use the property for yourself. Usually leasing agents do not permit owners to use their properties in July and August.

Typical leasing contracts in Cyprus last for a period of one year. The contract will include information on emergency repairs to the property, routine maintenance, cleaning the property and changing the linens, if someone will meet and greet guests and more. Services that are offered for properties usually depend on the type of property. For instance, more services are offered for luxury villa rentals than for budget apartment rentals. You can also count on a representative from the leasing company to make periodic checks on the property to make sure that everything is secure and as it should be.