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Property rentals?
Posted: Tue Jan 03, 2023 9:58 am
by Chaddy
At a recent board meeting ( down at the pub of course ) a new member of the board said his rental contract was due to expire next month and he had got notification that the rent will increase.
Another member of the board ( always a prophet of doom ) said his rent will increase dramatically due to supply and demand of rentals.Another member said,oh no, they can only increase the rent ( by law ) by 8%.Another said landlords can get around this ( only 8% ) by claiming that the property is wanted by a close relation.
Any input on this delicate matter
Re: Property rentals?
Posted: Tue Jan 03, 2023 10:10 am
by Uncle D
Chaddy wrote: ↑Tue Jan 03, 2023 9:58 am
At a recent board meeting ( down at the pub of course ) a new member of the board said his rental contract was due to expire next month and he had got notification that the rent will increase.
Another member of the board ( always a prophet of doom ) said his rent will increase dramatically due to supply and demand of rentals.Another member said,oh no, they can only increase the rent ( by law ) by 8%.Another said landlords can get around this ( only 8% ) by claiming that the property is wanted by a close relation.
Any input on this delicate matter
According to the relevant law, a Landlord can request an increase on the rent amount every two years but the increase in the amount should not be higher than the maximum percentage 8%
If the landlord claims a relative wants to move in then that will mean that they want you out, otherwise call their bluff.
Re: Property rentals?
Posted: Tue Jan 03, 2023 10:43 am
by WHL
There is a law covering rent increases, but no landlord in their right mind would want to evict a good tennent , knowing they might get a bad one in,
Re: Property rentals?
Posted: Tue Jan 03, 2023 5:26 pm
by Tuppence
An interesting article in Cyprus Property News giving some of the reasons for the current situation
https://www.news.cyprus-property-buyers ... d=00166837