Property management in Greece: permanent income from a Greek flat or house

Nov 19, 2023

The investment appeal of property in Greece is due to the tourist orientation of the country. Properties in tourist areas are not only growing in value, but are also capable of generating a steady income through renting out. One of the popular investment strategies is to buy a flat or villa in Greece, where the family can have a holiday 1-3 months a year, and the rest of the time to rent the property, thereby not only covering the cost of maintenance, but also making a profit. Another popular approach is to buy a property with the expectation of moving to Greece after some time, and in the meantime – “let it work”. The third option is the targeted investment in residential or commercial property.

The only question is how to organise interaction with tenants? Actually no, there are a lot more questions. How to generally solve issues with the maintenance of the object, if you are not going to visit this country often? What to do if you need to organise repairs and you can’t come to Greece for a long time? And how to pay utility bills and taxes?

The solution is simple – there is a property management service in Greece. Lavish Property Management specialists are ready to take on these tasks.

What is property management

This service includes all aspects of maintaining the property in a decent condition, liaising with utilities and tenants (if the owner decides to rent out the property).

What is included in property management:

  • routine maintenance and security;
  • Organising repairs (both urgent and preventive);
  • if necessary, organising large-scale repairs or reconstruction of the building, control over contractors;
  • connection of communications, change of service providers in order to get better and/or more budget-friendly services;
  • making mandatory payments, including property tax;
  • analysing opportunities for development and improvement of the facility, increasing its investment attractiveness;
  • finding ways to optimise costs and reduce maintenance costs;
  • organising the leasing of the property;
  • control over tenants’ compliance with the rules of residence, resolution of arising issues;
  • search for solutions to increase the profit from leasing the property.

Benefits of property management

Property management can be handled personally or delegated to professionals. Lavish Property Management is ready to take on all of these functions and a whole host of additional ones to make your property ownership in Greece a seamless, enjoyable and profitable experience.

The convenience of professional property management:

  • You may not be in Greece for months or even years, but you don’t have to worry about the condition of your house or flat.
  • You won’t have to search for tenants and interact with them, dealing with an endless stream of ongoing issues.
  • Paying rent on time will no longer be your concern either. You will simply see regular receipts in your account.
  • You won’t have to tidy up the flat or villa after tenants leave or before new tenants move in, or worry about the condition of the property.
  • All taxes and utilities will be paid on time.
  • Profits will come in regularly, without your involvement in the business.

This is the passive income that every investor dreams of.

These days, given the state of the world economy, real estate is one of the safest options for saving money with the prospect of significant capital increase. If you are going to invest in investment property, it makes sense to evaluate the benefits of hiring a professional property manager. This decision will protect you from the complexities you may encounter when investing in property, especially overseas.

What’s more: by using a professional property manager, you will be able to accelerate your return on investment. After all, one of the tasks of specialists in this field is to analyse the possibilities of increasing the profitability of your property and to take practical measures to fulfil this task.

Lavish Property Management: five areas of activity

Offering property owners in Greece its services, Lavish Property Management is ready to undertake the following tasks:

  1. Safe connection or reconnection to the electricity and water supply systems. A team of experts will ensure that all technical requirements are met. They will also supervise the communications to ensure that they work efficiently and smoothly.
  2. Selection of an Internet provider in accordance with your requirements, connection of the object to the network. We will provide you with fast, reliable and most favourable internet access from your home, flat or commercial property in Greece.
  3. Payment of utility bills in Greece. Entrust this task to Lavish Property Management and you can forget about the need to make payments, transfers, deal with the nuances of paying bills in Greece and immerse yourself in the routine. But Lavish Property Management will not forget anything – all obligations will be fulfilled on time.
  4. Full accounting support of the property. You will not have to understand the Greek tax system. Lavish Property Management has a team of experienced accountants. Our specialists will help you to correctly pay taxes not only on the property, but also on the car – if you decide that your stay in Greece will be more comfortable with it. We will also provide assistance in filing declarations on forms E1 and E9.
  5. Short and long-term property rental in Greece. You can entrust the rental of the property according to your holiday schedule in Greece (if you intend to use your property from time to time) or for a long term. We will ensure that your property is well looked after and that you receive your rent on time.

By concluding an agreement with Lavish Property Management, you will be able to choose the services you require. Individual approach is an important principle of our company’s work. Lavish Property Management’s goal is to make your property ownership in Greece as profitable and comfortable as possible.