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Long-term and short-term rentals in Cyprus: differences

Long-term and short-term rentals in Cyprus: differences

Want to visit Cyprus but don’t know where to stay? Thinking about renting an apartment in Cyprus? Then it is important for you to know how short-term and long-term rentals in Cyprus differ from each other.

In our blog, we often touch on the topic of buying a home in Cyprus. It is a popular investment and a good place to live. But many come to Cyprus for just a few weeks or months, and they are worried about the issue of temporary residence.

When the question arises of where is the best place to stay, many are accustomed to choosing hotels and inns. But it is worth noting that the rental business is well developed in Cyprus. Despite the fears and doubts of many, this is a safe and fairly profitable place to live.

If you decide to rent a property in Cyprus, then you may be wondering which rental option to choose. Let’s take a closer look at short-term and long-term rental property in Cyprus, their advantages and disadvantages.

Rental property in Cyprus for rent

It is important to note that for long-term and short-term leases it is equally required to conclude an agreement. Formal nuances are largely similar. Therefore, you should not worry that some type of rental will bring more trouble.

In addition, each type of rental housing has a number of advantages over living in a hotel:

Rental property in Cyprus: advantages

  • Own, separate housing provides more amenities than a hotel room.
  • You will not be tied to a specific resort area, as when choosing a hotel. You can choose any direction of the island and price category.
  • You will be closer to real life in Cyprus and will be able to feel the whole atmosphere.
  • Rented housing implies the presence of a kitchen. This means you will save a lot on food if you are going to cook on your own.
  • Renting property in Cyprus will be especially beneficial compared to a hotel if you live in a large company: the cost does not depend on the number of people, as in a hotel.

Alas, even despite such a number of advantages, renting real estate has a number of disadvantages:

  • Finding suitable accommodation in Cyprus is a tedious process. You will have to sort through and visit a considerable number of options.
  • During the search, you need to be careful and careful, because among the landlords there may be unscrupulous ones. Be careful to avoid being scammed or scammed.

To save time and be sure of your safety, you can take into account cooperation with us. We will select an experienced realtor who will provide good options for your budget and help you avoid the threat of fraud.

Short term property rental in Cyprus

Short-term rentals are especially in demand from May to October, during the height of the holiday season. Another name for short-term rent is daily rent. Payment is calculated for each night of stay.

Usually, guests of Cyprus choose this option when they stay for several days, and sometimes months.
Daily rent is very common in Cyprus. This is a fairly transparent, developed business. Therefore, you will find a huge selection of options for different budgets.

An option like a short-term rental in Cyprus is best for you if you do not plan to stay on the island for a long time. Perhaps you just came to rest or you are in Cyprus because of work, but stay for a couple of weeks, a maximum of 3 months. Then daily rent in Cyprus is a great option for you.

Long term property rental in Cyprus

It is quite predictable that this type of property is suitable for those who come to Cyprus for a long time. Usually, a long-term lease in Cyprus implies a contract for a period of 12 months or more.

This is a good opportunity for those who want to try life by the sea in another country. Especially if in the future you want to buy property in Cyprus. Often, the long-term lease option is also needed for those who come for long business trips or internships and for other reasons.

Renting property in Cyprus for a long time is always several times more profitable than daily rent, and this is a big plus of this option. Plus, you can try to negotiate with the tenant and reduce the price a little.

While bargaining, you can highlight some of the weaknesses and shortcomings of housing in order to reduce the price, but do not get carried away. It is best to build a good relationship with the owner of the apartment or house from the very beginning, because you will have to deal with him for many more months, and your relationship will be sealed by a contract.

Such an option as a long-term lease requires more responsibility and additional costs. But this is quite logical, since you are no longer coming as a tourist, you have more serious intentions for living and a long lease term. The contract that you enter into includes a deposit – and these are additional expenses that you will not return if you terminate the contract ahead of time. Moreover, you will have to pay for utilities yourself.

To recap: short-term and long-term rentals in Cyprus are the main differences

  • Length of stay: a couple of weeks – months for a short-term lease, from a year for a long-term one.
  • Payment: the long-term option always comes out 2 or even 3 times cheaper.
  • Filling housing: with daily rent, you are always provided with the most necessary things. With a long-term lease, sometimes you have to buy small little things for life: towels, bedding, dishes. There are also cases when an apartment is rented empty and you need to take care even about buying furniture.
  • Location: most often short-term rental options are located near the sea, in tourist areas. But long-term ones are located in quieter areas suitable for everyday life.
  • Utilities: for short stays they are included in the rental price. While with a long-term lease, you will have to independently look at the indicators and pay for them.
  • Maintenance – and finally, if you are planning to rent housing for a long time, then be prepared for the fact that cleaning the premises will fall entirely on your shoulders.

Short-term and long-term rental property in Cyprus: results

Comparing long-term and short-term rentals in Cyprus is quite difficult. Since these are completely different options for different purposes of living on the island. But choosing the right option for you is quite simple. If you come for 1-3 months, then rent by the day. And if your stay in Cyprus is 12 months or more, then rent a house for the long term.

If we talk about why renting a house in Cyprus is better than staying in a hotel, then here you can see a number of advantages. Of course, if you are traveling for a short time, then you can still consider a hotel room as an option. But for long trips to the island, long-term rental accommodation in Cyprus is the best solution.

If you have any questions or want to receive comprehensive support from an expert in working with the Cyprus real estate market, you can contact us. We will help you find the most suitable and profitable option for renting a property in Cyprus.

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Elmira

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