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LANDLORDS FAQ'S -
- MAIN QUESTION WE ALWAYS GET
ASKED -
How do I decide if to rent my
property out for long term or
for holidays?
This all depends on you and what
your needs are?
Should you decided to use if for
yourself during the year then
long term rental is not for you
as the tenancy contract would be
drawn up between you
and your new tenant and is
usually for one year. However
should the property be suitable
for the Holiday market Lisa
Burton will be happy to discuss
the marketing options for the
company's own website :-
www.oceanacyprusholidays.com
Once agreed for holiday rental A
calendar is made up for each
owner which is then blocked out
for each booking whether its for
you, friends and family or for
any bookings off holiday
websites. The property will be
cleaned and prepared for the new
arrival and again on their
departure ready for the next
visitors . Its very important to
keep us updated via email so we
have an accurate record of
occupancy and can be ready and
waiting for each new arrival to
the resort.
However if you wont be using it
at all then long term rental is
ideal as you will receive a
regular income to cover all your
outgoings and have the security
of our management company
looking after the property and
your tenant as we are providing
24hr care.
Whether you decided to rent out
for Holiday or Long term there
are various of steps you need to
take to prepare your property
for the rental market.
Also there are
safety issues for example fire
packs, security locks and window
stickers - We as a management
company will go through all of
this with you when you decide to
go ahead with our services.
Here are other FAQ's from
clients thinking about letting
their property out for holiday
rentals:
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The property is not due to be completed until
the following year. When should the property
start to be advertised for holiday rentals on
Oceana Cyprus Holidays? I'm assuming an artists
impression would be used until real photos were
taken?
We are taking bookings for next year already
but I don't think artist impressions are v good
so we will wait till completion as people
booking like to see the real thing finished and
ready .
If my friends wanted to book and I introduced
them to your website and they made a booking,
what I still be charged the 20% service fee?
We charge for all bookings made through
Oceana Holidays - so its best if you have
friends wanting to book to do it through
yourself to prevent our fees.
If I wanted to use the property myself, would
I be able to block out the dates I required if
no-one else had pre-booked those dates?
Yes we have a computer calendar for each
property advertised on Oceana Cyprus Holidays so
any bookings will be blocked off for the dates
required . You are able to view the calendar for
your property on line but cannot amend it - so I
need to be informed via email of any differences
or new bookings.
Of your current property listing for holiday
rentals - what occupancy rate are you achieving
for your existing clients?
Generally up to 30 weeks on villas but a
little less on apartments at the moment - but
its very varied year to year.
How is the laundry done for turnover of
guests. Is it done in the washing machine in the
apartment, or do you take it away. If you take
it away how do you know which laundry belongs to
which apartment?
All laundry is individually marked up and
sent to the laundrette in individual black bags
with the owners surname clearly marked- a
duplicate double check off list is done - one
for the laundry and one we keep to mark off when
it comes back - this way we know if anything is
missing.
Do you take a deposit from the holidaymakers
in case of any damage which is returned to them
at the end of their stay? How do you replace
damaged crockery/glasses etc?
Yes we take 200gbp when they arrive - we
advise you of anything broken - and its up to
you, depending the value of the broken or
damaged item if you decide to charge your
guests. Then with your permission we usually
replace anything like for like or you owners may
want to do it on the next visit.
Do you complete an inventory list of what is
in the apartment at the beginning and end of
each stay?
We ask our owners to complete an inventory
and the housekeeper will check it during the
turnaround cleans.
Do you recommend any shops that sell
furniture packages and all other items needed in
an apartment?
Yes we use two very large suppliers who will
give our clients a great discount. We have
catalogues showing the exact discount offered
for each package and there is plenty of choice
and the quality is very good.
You say your fee is one Months rent. When you
would require this? i.e. i.e. when tenants move
in or move out etc.
When a suitable tenant is found then we keep the
first months rent from the tenancy agreement as
our one off fee - basically the new tenant pays
a full months rent plus a deposit which is also
the same amount as a months rental - so they pay
2 months up front - but only one is for the
rent.
Do you arrange rental contracts?
Yes we do a professional contract which is
signed by yourselves and the new tenant - If you
request it we can sign on your behalf but will
send you a copy in any case.
Do you reference and background check
prospective tenants?
Yes we take 2 references one from an employee
and one from the bank.
Do you obtain a deposit from tenants to ensure
any expenses incurred after a tenant leaves is
covered? If so, how much deposit do you take?
We collect a damage deposit which is one months
rent - which you will need to refund this back
to the tenant if all is in order when they
leave.
Are you able to arrange standing orders from
tenant to ensure we are guaranteed payment every
month.
We will ask you for your account details so we
can pass them on to the new tenant in order that
they set up a direct debit for the monthly
rental payment. We strongly suggest you arrange
internet banking so that you can check on your
account to make sure the rent is paid on time.
What is the rental situation like in Cyprus at
the moment so as to prepare us for a realistic
expectation.
Its very good - long term rentals are in demand
due to the fact people are not buying so much in
the depressed climate.
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