The Question of the Month
Because when I wonder, it’s worth… asking!
Through this column of the monthly online magazine of Synergy Real Estate, answers will be provided to various questions related to properties and the real estate market in Cyprus.
Our Rentals Manager, Andreas Andreou, answers in detail the question that was posed to him.
What questions would it be good for a prospective tenant to ask a property owner before renting, and vice versa, in order to clarify the terms of a potential lease from the outset?
Before signing the lease agreement, the prospective tenant should seek the following clarifications from the property owner:
1. What is the exact due date for rent payment and how will it be made (through a bank transfer, deposit, cash, check)?
2. How much is the deposit, when and in which cases will be returned?
3. If there are common expenses, how much do they cost and what services does this cost include?
4. If the monthly rent covers any utilities, such as the monthly internet subscription?
5. How often will there be an increase in rent, and how will this be determined?
6. To what extent, if the annual rent cost is paid upfront from the beginning of the contract – upon the signing of the contract, will there be a discount?
7. What documents/certificates need to be provided before signing the contract (e.g. employment certificate, financial statement)?
8. Whether pet accommodation is allowed in the property. Even if you don’t currently have a pet, you may want to acquire one in the future. It’s good to know the property owner’s stance on this matter in advance.
9. When can the property be handed over for moving in?
10. Specify the tasks (e.g. painting, cleaning, repairs) that are considered necessary in the space before signing and moving in, as well as who will cover the cost. If there will be specific arrangements, such as the tenant taking over the payment of expenses but deducting all or part of this amount from rents, it would be advisable to include this as a condition in the lease agreement.
11. Are there any restrictions or rules that should govern the tenant’s behavior in this space? For example, some owners do not allow smoking indoors.
12. In the event that the tenant wishes to terminate the contract earlier than the predetermined end date, will there be any additional charge?
13. If there is a possibility of subletting the space, to what extent would the owner be agreeable or opposed to it?
14. How long before the end of the lease should it be clarified whether there will be a renewal or not?
Conversely, the property owner may want to pose the following questions to the interested tenant:
1. Where he works and how he intends to pay the rent (through a bank transfer, wire transfer, cash, check)?
2. If there are any recommendations from employers or previous property owners from whom they had rented?
3. How many people will the property accommodate.
4. Whether the interested tenant has, or intends to acquire pets during their stay in the property (in case these are points of interest to the owner or are not permitted).
5. If they have a pet – especially if it’s a multi-unit building -, to what extent it barks a lot or is aggressive?
6. How long/how many years do they plan to stay in this specific property?
7. If there will be any co-tenants and the number of individuals who will live in the property.
8. If there are any special requirements for the space, such as specific repairs or modifications?
9. Inquire whether the potential tenant intends to make any changes to the layout of the space themselves, e.g. to partition a space with a semi-permanent method, and to clarify that at the end of the contract, the property should be returned to its original state.
* You can also send us your own questions for resolution at info@synergyestates.cy
