# Long term rentals



## MacGeorge2429 (Jan 20, 2018)

So as we sit and plan our move I have a specific questions on Long Term Rentals.

First of all for various reasons my wife in not keen on buying in Cyprus - I think she has read too many scare stories.

Our plan is to rent out our UK property and rent Long Term in Cyprus. I would look to rent a 2 to 3 bedroom property in the Paphos area for around a €1000 a month. This would be a least for two years. 

I looked on the web, but to be honest letting websites in Cyprus are awful. (this maybe a business opportunity as I am a software developer by training)

Questions
What are the pitfalls to renting specific to Cyprus?
How easy is to get rental agreements for 2+ years or even longer?
What protections do Tenants’s have?
What type of property am I likely to afford, I have no need to be in a specific area or near any schools.

What are the benefits of renting?

What are the common practices in Cyprus for the following.

Who pays Council tax or equivalent?
Who pays for gardening/pool maintenance/property maintenance?
Are there letting agent fees to pay?
What is normally taken as a security deposit?
How does the landlord vet a tenant when we have only been in Cyprus a couple of weeks?


----------



## David_&_Letitia (Jul 8, 2012)

My answers in red for ease of reference:



MacGeorge2429 said:


> So as we sit and plan our move I have a specific questions on Long Term Rentals.
> 
> First of all for various reasons my wife in not keen on buying in Cyprus - I think she has read too many scare stories. * Join the club! I personally agree with her! *
> 
> ...


----------



## MacGeorge2429 (Jan 20, 2018)

David_&_Letitia said:


> My answers in red for ease of reference:


Thank you for the comprehensive replies they are just what I needed.

On my income I am aware of the problems with my money paid in sterling and being converted to the euro. I have based my income of €4300 pcm after tax on an exchange rate of €1.1 to £1.0. I will become tax resident in Cyprus. Hoping this is more than enough to have a decent lifestyle. 

We will check out the Polis area on our next visit in two weeks time, this will be our first winter trip. Though we have been many times in all the other seasons.


----------



## David_&_Letitia (Jul 8, 2012)

You have a very healthy income, and a sensible approach on exchange rates to ensure a good lifestyle here. 

We made the move 4 years ago and are of similar ages to you - I am 64 and Letitia is 62. We are also tax resident here, but use an accountant to submit both UK and Cyprus returns online. A very inexpensive way to be stress and hassle free in our little piece of paradise!

Do let me know when you intend to visit Polis, and we can meet up to socialise and for us to answer any other questions you may have.


----------



## MacGeorge2429 (Jan 20, 2018)

David_&_Letitia said:


> You have a very healthy income, and a sensible approach on exchange rates to ensure a good lifestyle here.
> 
> We made the move 4 years ago and are of similar ages to you - I am 64 and Letitia is 62. We are also tax resident here, but use an accountant to submit both UK and Cyprus returns online. A very inexpensive way to be stress and hassle free in our little piece of paradise!
> 
> Do let me know when you intend to visit Polis, and we can meet up to socialise and for us to answer any other questions you may have.


I will do that we arrive in Cyprus on the 19th of December so it will around the 21st or 22nd when we visit Polis.

Would it be OK to PM you closer to the time.


----------



## MacGeorge2429 (Jan 20, 2018)

David_&_Letitia said:


> You have a very healthy income, and a sensible approach on exchange rates to ensure a good lifestyle here.
> 
> We made the move 4 years ago and are of similar ages to you - I am 64 and Letitia is 62. We are also tax resident here, but use an accountant to submit both UK and Cyprus returns online. A very inexpensive way to be stress and hassle free in our little piece of paradise!
> 
> Do let me know when you intend to visit Polis, and we can meet up to socialise and for us to answer any other questions you may have.


Would you recommend your accountant?


----------



## David_&_Letitia (Jul 8, 2012)

MacGeorge2429 said:


> Would you recommend your accountant?


Definitely. She was recommended to me via this Forum and I have used her for the last 3 years. She is from the UK and her husband is a Cypriot lawyer.

I saw her this afternoon to sign off on my UK tax return which she will submit for me online. I emailed her all the electronic copies she needs to calculate and prepare the return and today paid her €60 for her service.

My Cypriot tax return will be due again next year around May, and her charge will be the same.

I discussed with her at length today the implications of Capital Gains Tax if we decided to sell our uk property. She certainly knows her stuff!


----------



## David_&_Letitia (Jul 8, 2012)

MacGeorge2429 said:


> I will do that we arrive in Cyprus on the 19th of December so it will around the 21st or 22nd when we visit Polis.
> 
> Would it be OK to PM you closer to the time.


Please do!


----------



## haymarket (May 23, 2010)

Excuse me, on reading this May I have ur accountants contact details? I need it for both Cyprus and uk returns too?


----------



## David_&_Letitia (Jul 8, 2012)

haymarket said:


> Excuse me, on reading this May I have ur accountants contact details? I need it for both Cyprus and uk returns too?


I have sent the contact details by PM. She does both uk and Cyprus tax returns online.


----------



## Harper7518 (Mar 2, 2019)

Hi There,
I hope you do not mind me asking for your accountant's details too.
Thank you very much
Regards
Harper7518


----------



## David_&_Letitia (Jul 8, 2012)

Harper7518 said:


> Hi There,
> I hope you do not mind me asking for your accountant's details too.
> Thank you very much
> Regards
> Harper7518


Very happy to send you the details, but cannot PM you until you have 5 posts...


----------

