Archive for May 14th, 2011
Immovable Property Letting in Cyprus
The immovable property letting in Cyprus is regulated by the Rent Control Law of 1983. This law was originally drafted mainly aiming at the protection of the tenant, by regulating the landlord and tenant relationship in Cyprus.
This Law comes into operation when the tenant continues to occupy the rented property, after the expiration of the first period of lease, i.e. the rental period forming part of the original written agreement between landlord and tenant. This protection of the tenant applies and covers the case where in the meantime change of ownership takes place.
The intention of this Law is the protection of the tenants, who continues to occupy the property and consistently pay their rents, after the expiration of the initially agreed rental period.
Who is a Tenant?
A tenant, according to the Rent Control Law of Cyprus (1983), can be an individual or legal person (i.e. a company or any other corporation) resident of Cyprus or having headquarters in Cyprus. The Court through its case law has extended the term “tenant”, so as to include every European citizen or Company.
Who is a Landlord?
According to the Law, a “landlord” can be any individual or legal person that has possession or right of possession of the property and, in the event of subletting, the sub-tenant who is then considered to be in the position of landlord vis-a-viz his tenant.
Rent is the sum agreed to be paid as rent but common expenses are not included and unless the agreement suggests otherwise, the landlord is presumed to be liable for the payment of common expenses.
The letting is essentially an agreement between landlord and tenant. Generally the Law does not interfere and is not concerned with the terms regulating the agreement between the two parties, but simply provides some limitations aiming at the protection of the tenant with regards to any increase of the rent or the grounds upon which the tenant may be ordered to vacate the same.
Read more http://www.pirilides.com/en/cyprus/practices/acquisition-of-immovable-property/10