Renting a property in North Cyprus can be an exciting experience. However, to ensure a smooth and secure process, it is important to follow the correct procedure. As a real estate agent with over 17 years of experience in the North Cypriot property market, I am here to guide you through the process.
Rentals in North Cyprus:
Typically for long term rentals in North Cyprus, tenants are required to pay, the equivalent of one month rent commission to the real estate agency, two deposits to the landlord in addition to the rental payments which can sometimes be monthly, quarterly or yearly. The deposits are held by the Landlord as a guarantee in case of any damages to the property during the tenancy period. If the property is returned in good condition and with no utility debts, the deposits are refunded to the tenant upon departure.
Procedure for renting a house in North Cyprus:
- Search for a property: Start by searching for properties on reputable websites or by contacting me or another reputable real estate agency in North Cyprus.
- Contact the listing agent: Once you find a property that you are interested in, contact the listing agent to arrange a viewing.
- Put down a deposit: If you decide to rent the property, you will be required to put down a deposit (one-rent commission) to reserve the property. You will receive a receipt, and you will be asked to sign a reservation agreement, which reserves the property until the contract is signed.
- Sign the contract: When you pay the remainder of the rent commission to the agent and the two deposits to the landlord, you will need to sign three copies of the contract. The contract should include your signature, the landlord’s signature, and in some cases, witnesses. The agency will also sign, and each party will keep an original signed copy.
- Pay Stamp Duty: You will need to make a copy of the contract and take it to the tax office to pay stamp duty. They will stamp the original give it back to you and keep the copy. After paying the stamp duty, you should send a scan of the stamped page or a scan of the entire contract to your agency for the landlord to pay the “Stopaj” or income tax.
Why follow this procedure?
Although scams are not common in North Cyprus, they can happen. Sometimes, students or individuals planning to come to North Cyprus may send money to someone who is not an agent and end up being scammed. In some cases, they may rent a property without signing a contract that protects their rights, which results in landlords refusing to return deposits, even if the property is returned in good condition. To protect yourself from scams, it is important to work with a reputable real estate agency.
If you decide to collaborate with me, as your real estate partner, I offer comprehensive services to ensure a secure rental experience. From finding a suitable property to handling legal aspects, I’ll take care of everything. Even if you’re not in North Cyprus, I can still assist you remotely with virtual tours and wire transfer reservations. You’ll receive a receipt and reservation agreement for your safety, and once the full payment is received, you will simultaneously have an original signed contract along with the keys of the property. Rest assured, the contract will protect both you and the landlord.
In conclusion, renting a house in North Cyprus can be an enjoyable and stress-free process if you follow the correct procedure and work with a reputable real estate agency. If you have any questions or are interested in renting a property, please contact me.
