| Cyprus Property Management
|The information sheet below sets out our services to you and our business philosophy with respect to managing your property from tenant management to maintenance and care of the property
We guarantee to look after your property as if it were our own because we understand the significant investment you have made in it.
Each of our property owners is assigned to our property manager, who knows everything about each of the properties he manages. Our manager is responsible for all aspects of managing your property. This ensures that he knows everything that affects your property. You don't have to speak to different people about different matters.
Our Property Manager is experienced and totally focused on finding the best tenant in the quickest possible time.
Our desired outcome is to get the best possible tenant for your investment property by following these general guidelines.
(a) Stability in employment
(b) Satisfaction that the tenant is financially capable
of paying the required rent
(c) Verifying that the tenant will maintain your property
to the standard required
A screening process is applied to all prospective
tenants and all references are carefully checked.
As we are one of the largest property management
company in Paphos, a lot of people looking for accommodation
come to us first.
Once the tenant has been interviewed and approved for your property, we will arrange the signing of the lease and the lodgement of the Rental Bond as well as the handing over of the keys.
All documentation is carefully checked for accuracy to ensure your rights as the legal owner are protected.
Prior to the signing of a lease we will carry out a detailed condition report.
Immediately after the tenant has vacated the property, we will conduct a thorough inspection to determine the refund of the tenantís Rental Deposit.
Paying rent is trouble free for tenants who are able to pay rent direct to our rental trust account by deposit book, periodic payment or Bpay. With Bpay, tenants are able to pay rent over the phone. Rent is deposited directly into our trust account when their rent is due. This system reduces the rent arrears from tenants.
We review arrears twice every week to ensure that the tenants who fail to pay their rent on time, for whatever reason, are contacted on a timely basis. Those who do not respond to the reminders are served with a warning letter, explaining that if they fail to pay, or do not contact us to make arrangements to pay, they will be served with a Termination Notice which gives them fourteen days to vacate.
This is usually sufficient incentive to encourage most tenants to pay their rent. However, should this warning letter fail to bring results, our property manager will contact you to discuss the matter as to whether to proceed with the termination of the tenancy or whether to allow the tenant additional time to pay the outstanding rent.
We monitor repairs very closely. We act on repairs according to your instructions in the Management Agreement. Should any repair of a more urgent nature be reported, such as no hot water, we will attend to this as soon as possible, as this is considered an essential service. We maintain complete records of maintenance carried out to your property for future reference.
Repairs carried out on your behalf are paid for from the rent monies held in our Property Management Trust Account. Full details of the repairs are printed on your monthly Rent Statements. If you require copies of the relevant invoices you can ask us for them and we will forward them to you. Your trust account statement by itself is sufficient for your tax purposes to claim these repairs as proper expenses.
Payment of Outgoings
From the rent collected on your behalf, we can arrange payments of all the standard property outgoings as you instruct in the Management Agreement. Such accounts usually include Council Rates, electricity bills & water bills.
We ensure you enjoy full market rental for your property. We regularly assess the rental on your property taking into account factors such as current market rents of similar properties, the vacancy factor in the area, the general condition of the property, the quality of the tenant and the length of the tenancy. Where we see that a rent increase can be justified, we will advise you and seek your specific instructions.
It is our duty as your Managing Agent to ensure that the tenants are well informed as to what is expected of them under the Tenancy Agreement. From the regular mowing of lawns, to the payment of rent in advance, to the behaviour of visitors to the property or the control of noise. We manage the tenant for you, so that you can spend time on more important things! Let us have the stress and worry.
Each month we prepare and forward you a detailed monthly Rent Statement for your property. The Statement details the rent period, the rent collected and any disbursements made on your behalf. Rent monies are electronically deposited into your nominated bank account. This gives you fast access to your rental income and the bank fees are less than other forms of payment to you.
Disputes between landlords and tenants are not uncommon, but if handled with professionalism and diplomacy, most can be solved expediently.
Most disputes arise over rent increases, repairs and rental bond matters. Our property manager acts as a mediator in discussions between the landlord and tenant. If all avenues are exhausted, and the parties have been unable to agree, it may be necessary to apply for a Consumer, Trader & Tenancy Tribunal hearing. The Tenancy Tribunal is an independent third party which will hear the dispute and make a decision on the matter.
We, as your agent can represent you at the hearing, preparing the case from start to finish. Preparation may include obtaining quotes and taking photos of the property (in case of bond disputes) or researching rental market comparisons in the case over rent increases. The finding of the Tenancy Tribunal are final, and may not always be to your satisfaction, so it is almost always beneficial to try and solve the problem in it's early stages.
We produce an Annual Financial Statement during the month of July, which gives you a summary of income and expenditure for the previous financial year. This will increase convenience in preparing your annual tax return.
As we advertise frequently with the local paper, we are able to negotiate cheaper rates than you can if you wanted to advertise the property yourself.
We are always available when you need to talk to us. If you have any problems, concerns or complaints, or suggestions as to how we can improve our service to you, please contact us.