The process for renting your property in Cyprus
We breakdown the process of renting out your property in Cyprus and make it simple for you.
If you own a property, there is a significant chance that the thought of renting it out has crossed your mind. After all, if you are in a position where your house is standing empty, who wouldn’t jump on the opportunity to have that extra bit of income to help with the mortgage, and make sure your investment is being enjoyed?
However the process can be incredibly daunting. There is the legal side of things to consider, the management of tenants (not to mention finding them), and of course maintenance. It’s also easy to assume that you probably aren’t spending your time in the same country, let alone town, especially if your property is in Cyprus, a country known for its large number of expat investors.
Enter QuickLets. With the ability to handle everything so you don’t have to, it’s the logical choice to ensure the process is as stress free as possible. However there are still guidelines that need to be followed to ensure that the process goes as smoothly as possible.
Registration and review
Not to state the obvious, but you first need to get hold of us. Based in Limassol, we are easily accessible and our QuickLets agents will run you through the steps of getting your property onto our database. This will include helping you determine the best rental price that you can secure, and identify the sort of tenants you are looking to sign onto your lease. As the owner, you will inevitably have some form of bias and understandably believe that your property may be worth more than its market value. But our agents have a deep understanding of the market, locations, and unique selling points for properties that guide them in providing the most accurate assessment to ensure that your property is priced realistically.
Information from our vast database allows for guidance based on historical data. Coupled with the in depth knowledge of our agents, you are sure to see your property rented swiftly, at the same time ensuring that it is competitive.
Spice up your life, or at least your living room and kitchen
One of the most prevalent questions for any potential tenants is “Does the property come furnished or unfurnished?”.
This is quite often determined by how long you have owned the property. But can also be based on how large a monthly rental payment you are looking to secure. If you have owned the property for some time and lived in it yourself, the chances are you have built up quite an inventory of furniture, white goods and other items.
Typically a furnished property will secure a larger rental price, but this also means concerns regarding how well these items are looked after, associated maintenance, and a fairly extensive inventory check prior to putting it to market.
Understanding the type of tenant you are looking to attract will help guide you on this. Either way, sprucing up your property with a good lick of paint, checking that items such as boilers and air conditioners are in good working order are an absolute must. So before inviting tenants for viewings, don those overalls, pop on your favourite playlist and pick up that paint brush to make your property really stand out. This will also help to make any photos used in the listing entice the right tenant.
Paperwork prowess
Photo by Romain Dancre on Unsplash
This is where using an agent like QuickLets really makes the most sense. Renting a property comes with a large amount of administration that goes far beyond just the drafting of the tenancy agreement.
A deep understanding of how to operate within the legal framework is essential to ensuring everything remains above board, and in Cyprus, this can prove extensive.
QuickLets can help in the formulation of the contract, working with you to create a bespoke lease agreement that not only caters to your requirements by including various, but also ensures that everything remains above board and transparent.
Then there is the day to day management and communication with tenants for issues of maintenance and management. Operating as a point of contact between you and your tenants means that you can sit back and relax whilst all relevant communications are observed and recorded within our system, making sure nothing slips through the cracks.
You have to be in it to win it
Once in our database, our agents can then effectively market your property and keep you up to date with potential inquiries ensuring that only the most suitable tenants that match your requirements are offered a contract.
And with your own private Property Owner Account, your able to amend your property description and images as you wish, boosting your property within the search criteria to increase the likelihood of more viewings.
With our extensive knowledge of the market and experience across our branches, it won’t be long before you can start to see a real return on your investment.
Main blog photo by Datingjungle on Unsplash