Letting your property in North Cyprus
Buying a property in North Cyprus with the intention of letting it out to tourists is becoming an increasingly popular activity. Thousands of European tourists visit this idyllic island every year, many of whom look for private apartments or villas in which to stay during their trip. It's a huge opportunity for property owners, but to take advantage of it important considerations have to be made…
Health & Safety - The safety of your guests during their stay should be a prime concern when setting up your new North Cyprus property for the rental market. Smoke detectors in every room or interlinked smoke detectors feeding into a fire alarm system is essential, as should clear multilingual instructions on what to do in the event of a fire. Installation of emergency lighting, emergency fire exits and the placement of ample fire extinguishers and fire blankets is also essential.
Rental Agreement - It is always wise to put in place a comprehensive rental agreement before taking on guests. This should be a legally binding document drawn up by a solicitor that will protect you and your property during the rental period. Such an agreement serves to define the responsibilities of you and your guests, and also gives you legal entitlement to claim monies for damage inflicted on your property by your guests.
Property Management - How are you going to manage the day-to-day maintenance of your property and the payment of bills whilst you are away? Employing the services of a property management company can help you avoid those nasty surprises, such as your electricity supply being cut because of non-payment.
Marketing - How are you going to advertise your vacant rental property? Getting bookings is perhaps one of the greatest concerns of all rental property owners, as without bookings there is no income! Employ the services of a marketing specialist who can help get your property in front of the right people, and you'll be well on your way to maximising the rental potential of your property.