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Renting Property

Greece - Renting Property


Many of the resort communities in Greece do not have thriving long-term real estate rental markets because many people who live in these communities own their properties while visitors often stay in resorts and hotels. Therefore, finding long-term rentals at a reasonable price can be difficult. Many rental properties in Greece are furnished but not well equipped for long-term living.

However, the situation is completely different in the big cities. Long-term rentals are usually unfurnished and some have no heating. The cost of rentals varies depending on the size, facilities offered, age, neighborhood, region, location of the property, and quality of the rental. An average one or two bedroom rental property in Greece could cost between €500 and €1000 per month. You can get a good deal if you rent outside of the main tourist season, when there is plenty of property available for rent. Islands such as Kefallinia offer a long-term rental market where you can pay €300 monthly for a one bedroom apartment and €400 for a two-bedroom rental property.

Apart from the monthly rent, you may be required to pay a one or two month rent deposit. In some case, tenants are required to pay up to six months’ rent deposit for long-term contracts. Most long-term tenants are expected to pay for their electricity and water bills. However, in older apartments, there are exceptions where the utilities are paid communally. Many people on short-term visits to Greece prefer to rent furnished apartments. Expats on short-term visits are required to sign temporary contracts with their property owners. However, temporary contracts give tenants fewer rights than long-term contracts.

Self-catering properties for rent in Greece range from cottages to apartments, villas, farmhouses, and town houses. The rent for short-term rentals is often higher than for long-term rentals especially in popular tourist destinations. Between October and March, which is considered low season, rent is considerably low, ranging from €300 to €600 per month. Like long-term leases, tenants are required to pay a deposit before leasing short-term rental properties. However, short-term leases are often more expensive than long-term leases. Rates vary depending on the size of property and the time of the season. You can get a two-bedroom apartment during the low season for €300 per week. Hotels and hostels also minimize their rates during the low seasons. Rates for rental properties usually go up during the peak season.

The qualities of rental apartments vary from ill-equipped cottages to convenient luxury apartments. As you hunt for a rental space be sure to check how well equipped it is. Everyone has a different definition of how a well-equipped apartment should look so make sure you select something that suits your needs. Check for availability of central heating if you are renting during winter. You can find rentals by looking through posted adverts online, in local publications, or through agents. Short-term apartments are furnished and they come with basic kitchen appliances, furniture, bathroom appliances, and basic tableware. Items available in furnished apartments usually vary depending on the landlord and the kind of place you are renting.

There are a few things you need to know before signing a lease contract in Greece. For protection against an illegal landlord make sure the landlord provides all the detailed information. Ask to see the title deed of the property. The contract in invalid if the lessor is not the legal owner of the property. In addition, some property owners may prefer to sign contracts in USD or another currency. It is important for expats to ensure that the terms of currency used in the payment are legal.

Another thing you need to understand is that property owners can at times liquidize their property to a new owner. This may force some tenants to move out because the new landlord may be more concerned about making more money by increasing rent than about the welfare of the tenants. It is important to find out if your landlord has plans to liquidate the property in the near future. Before signing your rental contract, ensure that there is a term that indicates that your contract remains valid even if the property gets a new owner.

Check the terms related to breaking the contract. Among the issues that expat tenants face in Greece is that of being unable to get out of a lease agreement. This is because most of the rental options only accept long term rentals, which range from six months to a year or even more. Some property owners require tenants to pay a deposit for long-term contracts and do not provide the tenants with options for getting their deposit back if they decide to move out before the lease period is over. Many expat tenants often find themselves not knowing what to do in order to get their rent deposits if they decide to move out before the end of the lease period.

There are many circumstances that could force expat tenants to decide to move out before the end of their lease periods. Therefore, make sure that your contract terms allow you to get back your deposit if you provide a month’s notice before moving out. However, owners of townhouses, apartments or villas might not accept such a term in their lease contracts. Consider signing lease contracts that allow you to get your full deposit once you provide the property owner with a month’s deposit after staying for more than six months. The month’s notice enables the property owner to find another tenant before you move.

Alternatively, consider finding a lease contract that allows you to get your full deposit if you decide to move, provided you find a replacement. However, this term is not common in many lease contracts because property owners are afraid of the hassle that comes with managing a replacement. If your lease contract has such a provision, be sure to find a good replacement to ease the transition for the property owner.




Expat Health Insurance Partners


Aetna

Our award-winning expatriate business provides health benefits to more than 650,000 members worldwide. In addition, we have helped develop world-class health systems for governments, corporations and providers around the world. We want to be the global leader in delivering world-class health solutions, making quality health care more accessible and empowering people to live healthier lives.

Bupa Global

At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.

Cigna

Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.