For the past recent years, renting properties in Larnaca has become more common. Travelers, businessmen, and businesswomen, ex-pats, investors, etc., rent properties in Larnaca for various personal or professional reasons. Affordable housing and the quality of life make Larnaca stand out among the other cities in Cyprus.
In this article, we will go through important information when it comes to renting properties in Larnaca.
1. Understand Why You Rent Properties in Larnaca
Every research starts with a goal in mind. Before looking for properties to rent, you need to understand why you want to rent a property in Larnaca. Your reason might be for your holidays, your new employment, working remotely, etc. Finding out why you want to rent Larnaca properties helps you narrow down your choice and choose the best property for your needs.
2. Find a Reliable Agent/Find a Reliable Listing App
When it comes to starting your research for your future property to rent in Larnaca, a reliable real estate agent can play a huge role. A reliable agent should:
- Be able to provide a vast list of properties for rent for you to have enough options to choose
- Provide properties with fair and reasonable prices
- Help you along the way to have all the steps done correctly
If you prefer to find the properties on your own and contact the owners personally, there are options. The two commonly used apps to rent properties in Larnaca are Bazaraki and Facebook Market Place. You can directly find the property owners and contact them to set up a viewing. If you plan to use listing apps for your research, then the next step is essential for you.
3. Validate the Rental Prices
It is always an excellent strategy to check your prospect rental property’s price with similar properties in the same area. If you are using an agent, you might want to ask them to list other properties in the same area and their prices. If you are using a listing app, then you can find similar properties in the same area to cross-reference.
Some factors affect the rental price within the same area, and here are some examples:
- The property’s age
- The proximity to the beach
- Owner’s preference of your duration of stay
- Recent renovations were done on the property
- The quality of the furniture
Generally, in Cyprus, prices tend to lower from November to April; therefore, this is the perfect time to find your deal with the lowest rental price. If your priority to rent properties in Larnaca is not about the price, then you can rent anytime during the year.
4. The Renal Procedure
The rental procedure in Cyprus is simple and straightforward. Here are the steps to take to complete when renting your property in Larnaca:
- From the narrowed-down list of properties that you are interested in renting, you can contact the owners or have your agent contact them to perform the viewings.
- Visit each property and check the whole place and the external view and amenities. Ask questions about the property from the owner.
- Select the one property that stands out and let your agent/ the owner know.
- A rental agreement needs to be signed between you and the owner, including the rental and deposit amounts, the property terms, and conditions, etc.
- You are required to pay a deposit which usually the same amount as your monthly rent. The deposit is paid to the owner alongside the first month of rent. You will receive your deposit back when you return the property without any damages to the property.
- If you are renting for a longer-term, you will be required to transfer the utility bills (water, electricity, etc.) to your name. The transfer is done at each authority’s office.
- You will receive the keys to the properties, and now you have the property.
5. Maintain and Terminate a Rental Contract When You Rent Properties in Larnaca
It’s essential to understand the maintenance behind renting a property in Larnaca. While it’s your living space, respectfully, there are responsibilities to uphold the tenancy agreement. Tenants must keep the property in the same condition they rented it, except for everyday wear and tear. While making repairs, like fixing a broken heater or air-conditioner unit, it usually falls on a landlord’s plate.
Once deciding to terminate your rental contract, you’ve got to inform your landlord in advance – this is called giving notice. You have to give notice correctly – if you don’t, you might have to pay rent even after you’ve moved out. You might also have to pay other bills – for example, council tax. Depending on the type of tenancy you have depends on how much notice you have to give.
6. Conduct a Final Inspection
It’s essential to perform a final examination before moving into a Larnaca rental home to guarantee a smooth and easy tenancy. This inspection should be carried out in conjunction with the property owner or representative. Spend some time carefully inspecting the property, paying great attention to its operation and state.
Keep thorough records of all existing issues, such as dents, stains, and damaged fixtures, during the examination. For an accurate record of these issues, take pictures or make thorough notes. Assure the property owner or agent acknowledges and consents to the inclusion of your findings in the property condition report.
Suppose you are thinking of renting properties in Larnaca, then you are looking at a unique opportunity. You can read about our other articles with our blog section about why Larnaca is a great city to purchase properties right now.
If you have any questions regarding starting your investment in Larnaca, do not hesitate to contact us at firstname.lastname@example.org, call us at +357 24 816246 or Book a 20-Minutes Online Meeting.