Renting a Real Estate in Cyprus: what to consider before signing an agreement

Cyprus has been attracting not only tourists, but also people who would like to remain here longer than on holiday. Some of them come here to the seashore in winter, some want to work remotely in pleasant conditions, and some are considering immigrating to this great island.

Renting a house in Cyprus is a chance to reside in one of the most comfortable areas of the Mediterranean, enjoy the sea climate, and take advantage of well-developed and low-cost infrastructure.

There is enough to choose from on the island in the real estate market to suit all tastes: from affordable studios with a modest price tag to apartments and seaside villas of high luxury.

Yet, renting a house in Cyprus has some peculiarities as well. Prices of houses differ significantly with the location, and the conditions of the contract are completely up to the property owner. Also, most tenants are confronted with the fact that not every homeowner is ready to rent out their house for the long term.

Types of renting property in Cyprus

Before renting a property, it is prudent that you understand whether you require a short term letting or a long term lease. Both options are suitable for different purposes. Let’s explore the key differences and nuances of each.

Short-term rentals: perfect for vacations

Short term rentals are an option for people who come to Cyprus for a few days or weeks. Holiday apartments for rent in Cyprus are typically chosen by tourists, business travelers, and those exploring the island before relocating.

Advantages of short term rentals:

• Flexibility of terms – you can rent for a few days without much commitment
• Fully furnished apartments – the apartments are rented with all the amenities and appliances
• All expenses paid – the rent already covers utilities, internet and even property taxes
• Convenient location – most of these properties are near the sea, tourist and business districts

When is a short-term letting most relevant?

• For vacation – if you’re taking a vacation on the island, it’s easier to rent apartments in Cyprus in Paphos, Limassol or Larnaca.
• To try out the market before moving – before signing a long-term contract – it’s better to try out living in a few places.
• For short-term work – if your contract is for 2-3 months it is preferable to take a short-term rent – it is simple and will not burden you with additional obligations

Although it is necessary to consider that the price for short-term rent is slightly higher than for long-term rent. Additionally, during tourist season the price can double or triple.

Long-term leases: for stability and life

Long-term letting implies signing a contract for several months or years. It is most preferable for people who are staying in Cyprus for a long time: expats, remote workers, families with children, students.

Advantages of long-term rentals:

• The cost is significantly lower than short-term rentals.
• Personalization: Most apartments are rented unfurnished, allowing tenants to furnish and decorate them according to their taste.
• Stability guarantee – the contract rescues the tenant from sudden changes in conditions and increases in the price of rent.

Who can benefit from a long-term lease?

• Expats and remote workers. Especially popular variant is renting an apartment in Cyprus Limassol, as the city is the business center of the island.
• Families. Long-term rent allows one to choose a territory with good schools, kindergartens and infrastructure.
• People who want to buy a property. Long-term lettings are a great way of finding out if an area is right for you before you buy a house.

Keep in mind that for long-term rentals, landlords may require 2-3 months’ payment upfront, as well as a security deposit refunded upon move-out.

Your choice between short-term and long-term  letting will depend on your goals and budget. If you need flexibility and an apartment that is already equipped, then short-term rentals are the way to go. If, though, you’re going to be on the island for more than six months, then it’s financially wise to seek out long-term housing right away.

Finding the perfect apartment

Where do you find housing?

There are several reliable ways of searching for property in Cyprus:

• Online platforms. Popular websites like myspace.com.cy, Airbnb, and local forums can help you find affordable options quickly.
• Real estate agents.A great option for those who prefer not to search independently, but it’s important to choose a licensed professional.
• Private listings. You can find good deals, but there is a higher risk of encountering dishonest landlords.

What to note while choosing?

• Location – distance to the sea and access to stores, schools, and transportation make life more comfortable.
• Infrastructure. Availability of nearby pharmacies, supermarkets, parking lots and other amenities is crucial.
• Price of rent. Average cost of a flat in Limassol – from € 1,200, in Paphos – from € 800, in Larnaca – from € 700.
• Condition of the apartment. Better see the apartment in person or at least order a video tour.

How to verify the property and necessary documents?

Before signing an agreement, make sure the property matches the conditions specified. Check the apartment Condition of appliances and furniture. Check the air conditioner, boiler, stove, plumbing. Communications. Check for no interruptions with electricity, water, internet. Additional fees. Is there utility included in the rent? If not, determine their average cost.

What documents should the homeowner provide?

• Title Deed. To ensure that the apartment indeed belongs to the owner. Owner’s Passport or ID.
• Rental Permit. For some apartment buildings, the letting requires a special permit.
• Lease Agreement. All terms and conditions should be clearly outlined and without vague terms.

In case of doubt, it is better to involve an attorney, especially for lengthy leases.

What to look for in a lease agreement?

A lease agreement is a guarantee of your security in case of controversial situations.

• What must be included in the document?

The term of the lease. For which period the contract is signed, renewal and termination conditions.

• The price of rent and deposit. The amount of initial fee, how it is returned.

Who pays for utilities? Electricity, water, maintenance of the house – is it included in the rent?

• Repair duty. Who pays for repairs if something is broken?
• Form of payment. In what form is the payment made – cash, bank transfer?
• The contract must be in English or Greek.

All the commitments of the owner (i.e., repair of furniture) have to be specified in the contract.

Never sign the contract if there are still unclear points.

How to avoid common errors in renting

Even if the apartment is ideal, signing a contract in haste can result in nasty surprises. Most tenants come across dishonest owners, hidden costs or unbearable living situations. Let’s examine the most frequent errors and how to avoid them.

Read the contract thoroughly

It should go without saying, but many people sign contracts without so much as a glance at the contents. This can have unpleasant consequences, especially if the landlord has inserted hidden clauses into the contract.

What to look out for:

• The length of the lease. Determine if the contract can be terminated early and what are the costs of doing this.
• Sum of deposit and conditions of return. If the owner requires more than two monthly payments, this is a reason to suspect.
• Additional expenses. Utility bills, internet, apartment maintenance – should be clearly specified.

If the contract has unclear terms or something is doubtful – it is better to call a lawyer.

Check the condition of the apartment before signing the contract

After you’ve moved into the apartment, you may find hidden problems: nonfunctional appliances, dripping plumbing or even mold stains. To avoid this, it’s important to check before signing the contract.

What to check:

• Electrical appliances. Stove, fridge, boiler, and air conditioner should be in proper working condition.
• Plumbing. Water pressure, drainage function, and faucets should be inspected.
• Windows and doors. These should close tightly and be windproof.
• Condition of furniture. If there is furniture in the apartment, look for damage.

It’s advisable to take a photo or video before signing the agreement – this will avoid claims when moving out.

Consider all expenses, not just rent

The rent amount is not the only expense. Some owners offer a low rate but don’t tell you about additional fees.

What expenses to consider:

Utilities – water, electricity, gas, garbage collection (approx. €100-200 per month). Internet and television – on average €30-50 per month. Home maintenance (in case the apartment is in a residential complex with a pool or security) – €50 to €150 per month.

Rental tax – sometimes landlords ask tenants to cover this price. Before signing the contract, ask the owner about the amount of all additional payments, so as not to get a surprise bill at the end of the month.

What needs to be remembered while renting an apartment in Cyprus

Letting a flat in Cyprus can be profitable and cozy, if you approach this issue seriously. The most essential is not to rush with the choice, think through all the details in advance and take into account possible risks.

Choose the type of lease – short-term lease will suffice for a vacation or test period before buying, and long-term lease will give you more stability and allow you to accumulate savings.

Choose reliable landlords – use reputable websites or contact a trusted agent.

Read the contract carefully – especially the sections on additional charges, lease terms and deposit refund.

Inspect the apartment’s condition before signing to prevent unexpected issues and disputes upon moving out.

With these tips, you can have a comfortable place to stay without stress. If you need assistance in selecting the ideal apartment, call our professionals and we will get you the best deals on rent apartments in Cyprus!