Most people who are staying in Greece for an extended period of time (over two months or so) end up signing a lease. It’s a cost-effective way to live in Greece, especially for the long term. Whether you are renting a house in the middle of Athens, or on a beautiful Greek island, you will need to understand the process renting a house, the basic law and what to be careful of!
In this article we will run through a some of the key points to think about and consider when renting in Greece:
Walk the streets and get to know the area.
It’s important to get a feel for the area you are thinking of leasing in. One of the key points here is to get an understanding of the area at night. Some areas are perfectly fine during the day when there is a work crowd, particularly in Athens, but can change dramatically after 7 or 8 o’clock. It’s important to get a feel for the area at different hours. It’s also a good idea to check for local essential services such as health centres, supermarkets, transport and restaurants and eateries.
Take note of any mould or other building issues when you inspect the property.
Sometimes fresh paint can indicate that there is a mould problem which has been painted over. Check that the hot water works and there are no maintenance issues. Also check the foyer or building entrance, if applicable and ask if there have been any recent maintenance issues. It’s also important to consider the location of the unit or house you wish to lease, particularly if it’s near a bush area as fires can be a concern.
Research the rental price.
You can look on websites such as spitogatos.gr to understand the prices of similar rentals in the area. Understand that in Greece, you generally pay for maintenance fees and utilities in addition to the lease contact. Sometimes it’s possible to negotiate and not simply accept the asking price.
Complete the documentation and contract correctly.
Firstly, in order to lease a property in Greece you will need an AFM. Our team of accountants can help you get an AFM – click here for more information and to arrange a call with our team. When you sign a lease agreement there are various terms and conditions. It usually goes for six months to three years. You usually have to provide a security deposit which is generally for a month. It’s also important to note that some real estate agents or owners will ask you to pay in cash. However, you should insist on paying electronically.
Landlord check.
Ensure you have a lawyer, or trusted friend, to check the authority and identity of the landlord. Your accountant will often do this as they will need to log in and accept the lease.
Make sure you are all on the same page.
This is important if there is a real estate agent involved. They are generally paid a fee from the first months rent by both the buyer and the seller. It’s not unusual for you to meet the landlord or homeowner. Make sure that you discuss everything you discussed with the real estate agent so you know everyone is on the same page. You will generally be dealing with the landlord for any issues once you have leased the property.
Have your accountant or lawyer explain the terms of the lease to you.
This is something that is quick and easy. You can ask our team for help. You mostly need to be sure that what you have agreed on is reflected in the lease. You can usually accept the lease through TaxisNet.
Understand that in Greece unfurnished really does mean unfurnished.
You may notice that when you go to rent a house in Greece, it sometimes does not even have a fridge or a microwave. This is not unusual as families that rent for three years or often longer have their own appliances and simply install them at each new place they rent. Make sure you clarify if a microwave or fridge will be provided as very often, they are not.
Our accountants and lawyers can help you rent or lease a house in Greece
If you use the above as a guide, ensure your lawyer or accountant completes a quick check, and have your AFM in place, then you should have a relatively smooth and safe rental journey in Greece. It’s not unusual in Greece to look at a property once or twice, and whilst some places in popular tourist attractions can be popular, other parts of Greece have generally low demand.
Either way, renting is a great way to get a cost-effective place to live in Greece – even though you often have to have and take your own furniture from house to house!