Cyprus-Forum.com

[simonwjones]

Hello

Wouldn't mind some feed back. Some people say no and some people say yes. I've been told that with the running costs and breakages etc you don't really benefit that much.

I'm not sure if we should rent ours out or not.

Let me know

Thanks
Simon

[Snad]

Hi Simon,

As you say the costs can out weigh the profits. I don't rent mine as I live here, but my friends do and its sometimes not worth it.
Holiday makers will always have the A/C on 24 hours a day, even when they go out, so its cool when they come back. They don't care about wasting water either.
I suppose if you have bought your place to rent out to pay the mortgage, loans etc, then you don't have much choice.
However don't think this will make you rich, cause it won't. From October to March, there isn'r much call for holiday rentals. Suppose you could long term rent, if thats applicable to you. Sorry its not good news.

[simonwjones]

Hi Snad

Thanks for the reply. These are the thing we have to weigh up, air con (all day) and waste of water etc. I know that Air Con can cost the earth when its left on for long periods.

We were just looking to make some extra money no really bothered about renting it out but I obviously don't want to be out of pocket either!

Long term rent doesn't really apply in Pissouri.

My other half thinks we'll be millionaires this time next year (just like Dell Boy!)

[anastasiaC]

well Im looking for an apt in Larnaca for Sept (18th to 20th oct)
if anyone wants to rent theirs!

[cyprusgrump]

Perhaps you should let them build it before you start worrying about such things? One thing is for sure, you won’t be a millionaire this time next year if they haven’t even started building it yet.

The market may well have changed when yours is finally finished but at the moment there are dozens of competing properties on the market in Pissouri – many with regular clientele of course that come back every year.

So you will have to find new clients in some way or offer something so exceptional or cheap to persuade existing visitors to Pissouri to give your place a try.

Then your worry is not just breakages and energy usage (many people charge extra for air conditioning) but you have to arrange (and pay for) cleaning and laundry services, provide a ‘welcome pack’, etc. It all takes time and money.

[Sotos]

If you have only cheap things inside and you carefully choose who you let in then you can have some profits. Otherwise it doesn't worth allowing strangers to destroy your place!

[simonwjones]

My thought entirely...