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Registering a rental through Airbnb and fines for violations: what do you need to know?

Registering a rental through Airbnb and fines for violations: what do you need to know?

21.09.2024

 

In recent months, there has been a significant increase in the registration of properties for short-term rentals online, including popular platforms such as Airbnb . By law, all properties offered for short-term rental must be registered with the Ministry of Tourism. However, a significant number of such properties remain unregistered.

It is estimated that about half of the 15,000 properties listed on various online platforms are not officially registered. Despite this, thanks to proactive measures by the Ministry of Tourism, the number of registered properties continues to grow. As of mid-September, the number of registered properties reached 7,800, an increase from 7,312 in July. Thus, about 500 new properties have been added in two months. For comparison, in April last year, there were only 4,765 registered properties in the register. The current 7,800 registered properties represent about 35,000 sleeping places.

Many applications for registration are still pending, indicating that the registration process is still active. Moreover, a new campaign aimed at combating illegal rentals is being considered. This is especially insisted on by representatives of the hotel industry, who believe that unregistered properties create conditions for unfair competition.

 

Registration and fines

Registration of short-term rental properties requires a registration fee of €222 for a three-year period. Registration is done through the Ministry of Tourism website and requires the submission of certain documents and certificates.

Under current legislation, anyone who rents out a property without permission or whose permission has been revoked is in breach of the law. If convicted, the offender can face up to a year in prison, a fine of up to €5,000, or both. If the violation continues after conviction, additional fines of up to €200 may be imposed for each day the illegal activity continues.

 

Text based on materials from www.news.cyprus-property-buyers.com, photo pixabay.com

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