Planning to visit Cyprus but unsure where to stay? Thinking about renting an apartment in Cyprus? It’s important to know the differences between short-term and long-term rentals in Cyprus.
In our blog, we often discuss the topic of buying property in Cyprus. It’s a popular investment option and a great place to live. However, many people come to Cyprus for just a few weeks or months and are concerned about temporary accommodation.
When deciding where to stay, many are accustomed to choosing hotels. But it’s worth noting that Cyprus has a well-developed rental market. Despite common fears and doubts, renting a property here is safe and can be a cost-effective option for accommodation.
If you’ve decided to rent a property in Cyprus, you might wonder which rental option to choose. Let’s take a closer look at the differences between short-term and long-term rentals in Cyprus, along with their advantages and disadvantages.
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Renting Property in Cyprus
It’s important to note that both long-term and short-term rentals require a rental agreement. The formalities are quite similar, so there’s no need to worry that one type of rental will be more cumbersome than the other.
Moreover, each type of rental has several advantages over staying in a hotel:
Advantages of Renting Property in Cyprus
- Private accommodation offers more comfort than a hotel room.
- You won’t be tied to a specific resort area, as you would with a hotel. You can choose any part of the island and price range.
- You will be closer to the real life in Cyprus and can fully experience the local atmosphere.
- Rented accommodation typically includes a kitchen, allowing you to save significantly on dining if you plan to cook your own meals.
- Renting a property in Cyprus is especially cost-effective compared to a hotel if you’re staying with a large group: the cost doesn’t depend on the number of people, unlike in a hotel.
Unfortunately, even with all these advantages, renting a property has its own set of drawbacks:
- Finding suitable accommodation in Cyprus can be a tiring process. You’ll need to sift through and visit a lot of options.
- During the search, you need to be careful and vigilant, as there may be dishonest landlords. Be cautious to avoid scams or fraud.
To save time and ensure your safety, you might consider working with us. We can help you find an experienced real estate agent who will offer good options within your budget and help you avoid the risk of fraud.
Short-Term Rental in Cyprus
Short-term rental is especially in demand from May to October, during the peak tourist season. Another name for short-term rental is daily rental. Payment is calculated per day of stay. Visitors to Cyprus usually choose this option when staying for a few days or sometimes months.
Daily rental is very common in Cyprus. It’s a transparent and well-developed business, offering a wide range of options for various budgets.
Short-term rental in Cyprus is best for you if you don’t plan to stay on the island for long. Perhaps you’re just here for a vacation or on a business trip and will be staying for a few weeks, up to a maximum of three months. In that case, daily rental in Cyprus is an excellent option.
Long-Term Rental in Cyprus
Predictably, this type of rental is suitable for those staying in Cyprus for an extended period. Typically, long-term rental in Cyprus involves a contract for 12 months or more.
It’s a great opportunity for those who want to try living by the sea in another country, especially if you plan to buy property in Cyprus in the future. Often, long-term rental is also necessary for those on extended business trips, internships, or other circumstances.
Long-term rental in Cyprus is always much more cost-effective than daily rental, and that’s a big plus of this option. Additionally, you can try negotiating with the landlord to reduce the rent.
During negotiations, you might point out some weaknesses and shortcomings of the property to lower the price, but don’t overdo it. It’s better to establish a good relationship with the landlord from the start, as you’ll be dealing with them for many months, and your relationship will be formalized in a contract.
Long-term rental requires more responsibility and additional costs. But that’s understandable, as you’re not just a tourist; you have more serious intentions for living and a longer rental period. The contract you sign will include a deposit, which is an additional expense that you won’t get back if you terminate the contract early. Moreover, you’ll have to pay utility bills yourself.
Summary: Key Differences Between Short-Term and Long-Term Rental in Cyprus
- Length of Stay: A few weeks to months for short-term rental, at least a year for long-term.
- Cost: Long-term rental is always 2 to 3 times cheaper.
- Furnishing: In daily rental, you’re usually provided with all the essentials. In long-term rental, you might need to purchase small items for living, such as towels, bedding, and kitchenware. In some cases, the apartment is rented unfurnished, and you may need to buy furniture.
- Location: Short-term rental options are often located near the sea, in tourist areas. Long-term rentals are usually in quieter, more suitable areas for everyday living.
- Utilities: In short-term rental, utilities are included in the rent, while in long-term rental, you’ll need to monitor and pay for them yourself.
- Maintenance: If you plan to rent long-term, be prepared to handle cleaning and maintenance yourself.
Short-Term and Long-Term Rental in Cyprus: Conclusion
Comparing short-term and long-term rental options in Cyprus is challenging, as they serve completely different purposes for staying on the island. But choosing the right option for yourself is relatively straightforward. If you’re staying for 1-3 months, opt for daily rental. If your stay in Cyprus is 12 months or more, go for long-term rental.
When it comes to how renting property in Cyprus compares to staying in a hotel, you can see several advantages. Of course, if you’re staying briefly, you might still consider a hotel. But for extended stays on the island, long-term rental is the best solution.
If you have any questions or would like comprehensive support from an expert in the Cyprus real estate market, feel free to contact us. We can help you find the most suitable and cost-effective rental option in Cyprus.
