September doesn’t just mean the return to city life. It’s also one of the busiest months in the residential rental market. Students search for housing, workers relocate, families move, old leases expire, and new agreements are signed. From Athens and Thessaloniki to major regional cities, thousands of landlords face what appears at first glance to be a straightforward decision: who to rent their property to, and on what terms.
Real estate: a practical guide to the rental process
In practice, however, a successful tenancy begins long before the keys are handed over. The condition of the property, tenant selection, rent amount, the lease agreement, the security deposit, utility bills, and insurance are just some of the factors that can determine whether the landlord-tenant relationship runs smoothly — or turns into a long-running ordeal.
A particularly useful guide for landlords is offered by POMIDA president Stratos Paradias in the book Buying a Home, co-authored by Stratos I. Paradias (POMIDA president) and Ilias P. Papageorgiadis (real estate analyst and investor), published by Kastaniotis Editions. The advice starts before the property even hits the market and extends through the signing of the lease, the handover of keys, and the ongoing management of the tenancy.
The first rule
The first rule is that the property must be suitable and safe for the use for which it is being rented. Landlords are advised to inspect the property’s condition — particularly its core systems and safety features. These include the proper functioning of electrical and plumbing installations, windows and doors, balconies, the security of the front entrance, and anything else that affects the safe and comfortable use of the home. The underlying principle is straightforward: a property that is not in good, decent, and functional condition should not be listed for rent.
What to include in the lease agreement
It is also advisable to include a clause in the lease confirming that the tenant has inspected the property and found it suitable for its intended use. The more clearly the property’s condition is documented at the time of handover, the less likely disputes are to arise down the line.
Among the obligations landlords must keep in mind is the Energy Performance Certificate (EPC), which is mandatory for the rental of all types of primary spaces and remains valid for ten years. The EPC details must be available and declared when submitting rental information to the Greek Tax Authority (AADE) rental platform. This is not a minor detail to be sorted out after a tenant has been found — it is one of the matters that must be resolved well in advance, before the new tenancy is finalised.
Advice from Stratos Paradias and Ilias Papageorgiadis
One of the central themes of the advice provided by Stratos Paradias and Ilias Papageorgiadis concerns tenant selection. A rental agreement is not a transaction that concludes on the day it is signed — it is a relationship that begins on that day and may last for years. For this reason, the primary criterion should not be who offers the highest rent, but who can consistently meet their obligations: monthly rent, building maintenance fees, utility bills, and respectful treatment of the property entrusted to them.
Landlords should meet with prospective tenants in person, obtain their full personal details and know who will be living with them, and form as complete a picture as possible of their reliability and financial standing. They may also want to find out where the prospective tenant currently lives, why they are moving, and, where appropriate, request a reference.
Red flags to watch out for
Particular caution is warranted when a prospective tenant is reluctant to provide their full, accurate personal details, or attempts to use someone else’s identity. That said, tenant selection must in all cases be conducted without any form of discrimination prohibited by law.
For rentals involving high-value properties and significant monthly rents, landlords are fully within their rights to request that the prospective tenant provide a creditworthy guarantor — typically a family member — who will co-sign the lease and share responsibility for meeting the tenant’s financial obligations.
Setting the right rent
The advice on setting the right rent is especially relevant today. At a time when advertised asking prices often fuel unrealistic expectations among landlords, a degree of caution is needed. The fact that properties in a given area are listed at, say, €500 per month does not mean they are actually being rented at that price. The true return on a rental property is determined by the rent that is actually collected — not the rent that is advertised.
What makes a good tenant
A reliable tenant who consistently pays a reasonable rent can ultimately prove to be a far better financial outcome than a tenant who agreed to a higher amount but is unable to pay it.
One of the most important points every landlord should understand relates to the duration of the tenancy. For primary residence rentals, the minimum legal term is three years — even if the lease specifies a shorter period. This minimum applies to both parties. Writing a one- or two-year term into the lease has no legal effect whatsoever.
Secondary residences and holiday homes
The rules differ for secondary residences, holiday homes, and temporary accommodation. These types of rentals are not subject to the mandatory three-year minimum that applies to primary residences, and their duration is determined by mutual agreement between the parties. For this reason, it is particularly important that the lease clearly specifies both the intended use of the property and the agreed rental period.
A verbal agreement is not sufficient. Every new tenancy — or any modification to an existing one — must be backed by a written private agreement that clearly sets out the terms of the arrangement.
As outlined in Buying a Home — a practical, up-to-date guide for anyone looking to purchase, manage, or make the most of a property — the lease must include the tenant’s full personal details, their tax identification number, the intended use of the property, the monthly rent, the duration of the tenancy, all other material terms of the agreement, and, where required, the names of all occupants.
Key terms to review before signing
Every clause deserves careful attention before signing. The guide’s advice is clear: the responsibility for drafting the lease rests with the landlord, and where matters are legally complex, a solicitor should be consulted. In any case, POMIDA’s standard lease templates offer the most immediate and accessible solution available.
Once both parties have reached an agreement, the required electronic filing process with the AADE must be completed. The landlord submits the rental details electronically, and the tenant is notified of the declaration and the acceptance process, in accordance with current regulations.
The electronic declaration
One point that deserves particular attention is that the electronic submission of rental details to the AADE should not be confused with the private lease agreement. One does not replace the other — a detailed written contract setting out all agreed terms remains essential regardless of the online filing.
A very specific piece of advice is never to accept a rent deposit or security payment before the written lease has been signed. The security deposit should also be handled under clearly defined terms and not treated as a sum the landlord can automatically retain at the end of the tenancy. It is therefore important to document exactly what has been agreed between both parties from the outset.
Among the most practical recommendations in the guide is the correct sequence of steps to take just before the tenant moves in. As the Hellenic Electricity Distribution Network Operator (DEDDIE) explicitly advises in its standing guidelines, landlords should not hand over the keys while the electricity supply remains registered in their own name or while there is no active power connection at the property. The recommended approach is to complete the transfer of the electricity supply into the new tenant’s name first, and only then hand over the keys.
Other utilities
The same level of care applies to all other utilities. The advice is clear: never rent out a property with an active electricity, gas, or telephone connection still registered in the landlord’s name or that of any other person. The guide also specifically highlights the risk of illegal electricity use. Ensuring that each utility is properly recorded and transferred to the current tenant’s name protects the landlord from problems that could arise from the actions of third parties.
What happens after the tenant moves in
Once the tenant has moved in, landlords should not lose touch with the building manager. It is important to stay regularly informed about whether building maintenance fees are being paid on time, and to ensure the building manager has the landlord’s contact details so they can be notified promptly in the event of late payment or any other issue. This point carries real practical weight: unpaid obligations tied to the apartment will inevitably become the landlord’s problem too.
Particular attention is also drawn to water bills. Landlords are advised to know their property’s supply number and meter number, and it is good practice to include these details in the lease. Keeping track of utility bills is equally recommended, so that landlords can confirm payments are being made and avoid discovering a large accumulated debt — one for which they will be solely liable to the water authority — long after the fact.
Insurance
Another important recommendation concerns insurance. The property represents a significant asset, and renting it out does not mean the landlord can afford to stop protecting it. The advice is to maintain insurance coverage against at least the most basic risks — fire, flooding, and earthquake. A rental property that sustains serious damage can result in a double financial loss for the landlord: the cost of repairs combined with the loss of rental income.
The five essential rules
The essential precautions can ultimately be summarised in five simple rules:
– Never accept a rent deposit or security payment before the lease has been signed.
– Never proceed with a rental without knowing the tenant’s full and accurate personal details.
– Never leave active utility connections registered in your own name. Never hand over the keys before the electricity supply has been transferred to the new tenant’s name.
– Never put a property on the market if it is not safe, fully functional, and ready to be lived in.
Perhaps the simplest piece of advice in the guide is also one of the most important. Renting out a home is, above all, an ongoing relationship between people. When a problem arises, the first response does not have to be confrontation. Open communication and a genuine effort to reach a mutual understanding can often resolve issues before they escalate into lengthy and costly legal disputes.
Ultimately, a successful rental is not judged by how quickly a tenant was found, or by the highest figure written into the lease. It is judged by whether the rent is paid consistently, obligations are met, the property is looked after, and when the time comes, it is returned to the landlord free of any outstanding issues. And perhaps therein lies the most valuable piece of advice of all: a good tenant is worth far more than a good rent.
