How to find a house or apartment for rent in Cyprus: Best Spots, Costs and Tips in 2024
Have you ever tried finding an apartment that fits all your needs? I know how hard that is, especially in a country you are not familiar with. That is why I want to help you out and show you the best spots, the cost you will have to consider and the secret tips on where to find the perfect apartments for rent in Cyprus. Let’s get started!
What are the reasons for me to consider renting an apartment in Cyprus?
Why should you rent rather than buy? Take a look at all the advantages of renting an apartment.
Adaptability: Flexibility is something that is something everybody wants. With an owned property, that flexibility will quickly fade away. That is not the case if you rent.
Financial Benefits: Do you want to spend your money elsewhere? If so, renting is the perfect choice for you. Even though the price range can vary widely for rentals, no big investment is needed to live in your perfect home.
Lower Duty: Nobody knows what is going to happen in the future. Renting offers you the freedom to switch your place within a short amount of time.
The advantages Cyprus has to offer
- Weather: Cyprus offers more than 300 days of sunny weather. Relax under the sun with no need for an umbrella.
- Food experience: You will have the opportunity to enjoy tasty Mediterranean dishes, including fresh seafood and regional favorites.
- Recreational Pursuits: The nature in Cyprus is astonishing. Stunning beaches, nature resorts and traditional architecture are only three of the many advantages of Cyprus.
This is what the Rental Market in Cyprus has to offer
The first step requires you to identify the type of apartment you would like as your perfect home.
Studio Apartments: These apartments are the best choice for singles or couples, especially if you are a very practical person who wants to get everything done quickly.
One-bedroom apartments: They provide additional room compared to studios. These are perfect for those individuals or couples who require an additional room, and for those who wish to have the living space away from the bedroom.
Penthouse & Villa: They are usually luxurious and equipped with large patios or terraces. Penthouses are ideal for people looking for an upmarket living environment, since they offer breathtaking vistas and opulent amenities. Be ready to pay a higher price.
Sea View Apartments: Do you want to enjoy the sea every time you wake up? Apartments located close to the beach are the best. However, options to choose from can be quite limited.
Top 4 Popular Areas for Rentals on the island (exact location)
After that important step is done, it is now time to find the exact location for your perfect home.
Paphos: Paphos is the best choice for renters. The city and its surrounding area combine a beautiful history with the charm of modern amenities. There are many interesting places to visit and nice beaches to relax on.
Limassol: Are you a person who loves a lively environment? In that case, Limassol is a city we recommend. It’s a perfect choice for those who enjoy an active atmosphere. It also features a beautiful marina, restaurants and shops, as well as a vibrant nightlife.
Nicosia: Nicosia is the capital of Cyprus. That is why you are going to experience historical charm and also modern living ares. You have to discover its cultural hub with numerous museums, galleries, and the thriving business district.
Larnaca: This city is known for its relaxed pace and beautiful coastline. Larnaca is perfect for your family and those who enjoy a quieter lifestyle. It features a charming seafront promenade and easy access to international travel via Larnaca Airport.
These 5 steps will outline the necessary actions to take in order to locate the top Cyprus apartments.
These 5 steps clarify what you will need to do to find the best Cyprus apartments.
Initially, you must explore listings and pinpoint your desired locations and types of apartments (types of houses, number of bedrooms, etc.) The website cyrentbuy.com provides an extensive database of properties that are currently available to assist you in discovering the ideal fit.
After selecting your top apartment choices, arrange appointments to personally see the properties. This enables you to determine if the house matches what you viewed on the website.
After you have discovered the ideal apartment, you need to sign the rental contract. Our agents will assist you in meeting the legal obligations and will make sure all terms are comprehensively explained.
Ensure the safety of the flat by submitting the necessary deposit along with the initial month’s rent. This payment signifies your dedication and guarantees your lease.
After all the paperwork is done, it is time to enjoy your new home in Cyprus without any worries.
We are there for any problem or questions you may have, especially if you need any help regarding the final arrangements with the owner or the first transition. Feel free to contact us today for further help and individual tips regarding your first apartment in Cyprus.
Understanding Rental Procedures - Lease Agreements in Cyprus
There is no way around it. You need to understand the different terms used in the housing market. Here you can find the most commonly used terms so that you know what the owner is talking about.
Rent amount and payment specifics Quantity: Specifies the monthly rental cost.
Payment Method and Schedule: Clearly outlines the preferred payment method (bank transfer, cash, etc.) and the specific date each month when the rent is due.
Term Length: Helps to define the duration of the lease (e.g., 12 months, 24 months).
Renewal or Extension: Indicates whether the contract can be renewed or extended and under what terms.
Deposit Amount: Typically one to two months’ rent.
Conditions: These will tell you under what circumstances the landlord is allowed to retain the deposit (e.g., damage to the property, unpaid rent).
Utilities: Specifies which utilities (e.g., water, electricity, internet) are included in the rent. If the property is an apartment, clarify whether communal expenses are included.
Repairs
Landlord’s Responsibility: Generally responsible for major repairs.
Tenant’s Responsibility: Fix any damage that is caused by you.
Contractual Arrangements: Any different arrangements should be clearly stated in the contract.
Insurance: You will have to agree on who is responsible for insuring the property and its contents.
Rent Increases
Conditions for Rent Increase: Says when and how much the rent can go up. Note that rent can be increased in Cyprus after 22 April 2023.
Interest in the Land
Notification: The landlord has to notify you in a writing if there is an interest in the land.
Additional Issues
Pets: State whether pets are allowed.
Parking: Detail available parking options.
Minor Changes: Specify if the tenant is allowed to make minor changes to the property.
Condition of the Property
Appendix: Include an appendix detailing the condition of the property at the start of the lease.
Photos: Taking pictures before or on the move-in day can help document the property’s condition.
Notice Period: Define the notice period required for ending the lease by either party.
Landlord Visits
Permission: The landlord cannot enter the property without the tenant’s permission.
Frequency: Discuss and agree on the frequency of visits, typically not more than twice a year.
Find out why you should work with a Real Estate Agent
Navigating the rental market can be complex, and having a reputable real estate agent by your side can make a significant difference. My experienced team ensures that all legal aspects are covered, helping you avoid potential pitfalls and ensuring a smooth rental process. From finding the perfect property to negotiating terms and understanding your rights, we are here to assist you every step of the way. Contact me today to start your search for the ideal apartment in Cyprus. With my expertise and dedication, we make renting in Cyprus an easy and enjoyable experience.
Financial Thoughts for Long-Term Rentals
Do you want to rent your accommodation for a longer period? Then you should take these financial factors in consideration to not get surprised by the end of the month.
Rent
1-Bedroom Apartment: Starting from €500 per month.
4-Bedroom House: Starting from €1,000 per month.
Deposits
Security Deposit: Typically one to two months’ rent, payable at the beginning of the tenancy.
Utilities
1-Bedroom Apartment Utilities: Approximately €50 per month.
4-Bedroom House Utilities: Approximately €105 per month.
Living Expenses
Groceries: Starting from €165 per month.
Health Insurance: Starting from €100 per month.
Example of Costs for Paphos
Position | Costs |
One-bedroom apartment | Starting from €500 |
Extra costs | Starting from €50 |
Groceries | Starting from €165 |
Health insurance | Starting from €100 |
4-room house | Starting from €1,000 |
Additional Considerations
Communal Expenses: Check if communal maintenance fees are included in the rent. Especially if you’re renting an apartment in a complex, it’s essential.
Repairs and Maintenance: Major repairs are usually the landlord’s responsibility, but you may be required to handle minor repairs or damages by yourself.
Insurance: Both you and the landlords should agree on who covers insurance for the property and its contents.
Rent Increases: Understand the conditions under which the rent can be increased, particularly noting that rent increases in Cyprus can occur after 22 April 2023.
Seven Common Pitfalls to Avoid
Renting in Cyprus can be challenging if you’re not aware of potential pitfalls. Here are some common issues most renters face and strategies to avoid them.
Not thoroughly reading or understanding the rental agreement before signing: Always read the lease agreement carefully. Pay attention to clauses related to deposits, termination policies, and rent increases. Consider consulting a legal professional if anything is unclear.
Failing to inspect the property thoroughly for existing damages or maintenance issues: Conduct a detailed inspection before moving in. Document any pre-existing damages and share them with the landlord to avoid disputes over security deposits when moving out.
Not accounting for all the potential costs involved, such as utility bills, community charges, and maintenance fees: Ask for a clear breakdown of all the costs involved beyond the rent. Confirm what is included in the rent and what isn’t, especially utilities and maintenance fees. We will help you with that!
Choosing a location based solely on rental prices without considering other factors like accessibility, neighborhood safety, and proximity to amenities: Visit the neighborhood at different times of the day, research public transportation options, and consider the proximity to work, schools, and essential services.
Assuming the landlord’s insurance will cover personal belongings and liabilities: Invest in renters insurance to protect your belongings and yourself from potential liabilities. It’s usually affordable and provides peace of mind.
Waiting too long to make a decision, leading to missing out on desirable properties: Prepare all necessary documentation in advance (ID, proof of income, references) to act quickly when you find the right apartment. The rental market in Cyprus can be competitive, especially in popular areas.
Not establishing a clear and open line of communication with the landlord: A good relationship with your landlord offers you a massive benefit. Therefore, you will need to have a clear communication about everything that might be of any interest to the landlord.
That will help you enjoy your time in Cyprus more than you can imagine.