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недвижимость на кипре

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Long term rent is not a viable financial alternative to selling your property in Paphos.

Date: 14/02/17

Some owners we meet consider either to let their property in Cyprus or to sell it. We are a selling agency only and for a good reason.

We see too often the disastrous consequences for the financial wellbeing of the owner and the terrible condition of the property after the long term rental.

On the face of it letting long term can seem as a viable solution to generate extra income for the property in Paphos that you no longer use. Rental can indeed be a good earner, but only if you decide to go for short term holiday lets in a nice resort type development. On average long terms letting income is 4 times less than short term holiday lets. If you opt for long term lets you choose a low yield alternative packed with unpleasant surprises. Overseas owners often face headaches of endless unforeseen expenses, while negligible rental payments barely cover common maintenance fees of development. 

To make the matters worse rental agents do little to protect your investment by offering you poorly chosen tenants. This quickly leads to the inevitable deterioration of the condition of your asset, wiping out any rental income you may get. We have lost count of owners who had to spend most of their rental returns to bring their property back to the pre-letting condition in order to place it “for sale”.  

Another important factor to remember is that laws in Cyprus protect the tenant to the detriment of the property owner. Non-payment of meager rental fees is very common. A quick Google search will enlighten you further Search Google "Tenants Rights In Cyprus"

If your property in Paphos is now surplus to requirements, the practical option is to place the property for sale without a tenant. This will ensure that your property is kept in perfect condition and is available to view by prospective buyers at all times and beautifully presented. If your property is placed for sale with us it has a 90% chance of selling within the terms of our contract.

Don’t be caught up in a dreadful long term saga. If you don’t use your property in Cyprus – simply sell it with us. 

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