Properties in North Cyprus are purchased mainly for permanent residence, short-term vacations or investments. In these cases, owners do not live in their homes all year round, which means that many people want to rent out their homes. In doing so, owners face many issues: finding a tenant, changing rental property prices, paying bills and taxes, cleaning, and more.
Special companies exist to handle the complex issues of property management. Management companies deal with:
- renting out the property (finding tenants, paperwork, controlling payments);
- paying bills (insurance and utility bills, taxes);
- Keeping the house in order (maintenance of the house, garden, swimming pool, as well as carrying out repairs, telephone/internet connection).
The services of the management company are paid either a fixed amount per contract or a percentage of the rental profit received. It should be noted that new complexes often already have a management company from the developer. However, if you choose a management company on your own, you should consider the company's reputation, experience and professionalism.
Management companies in North Cyprus operate within the law, are licensed and insured. The company staff includes many specialists: managers, accountants, lawyers and insurance agents. They care about the safety and comfort of their clients, as well as preserving the value of their properties. Therefore, by contracting a property management company, you gain the confidence and peace of mind that your property is under control at all times.