The Rental Agreement
Information about the typical rental contract in Greece...
Rental contracts are for a three year period (even if the contract is signed for a shorter time) and, by law, the tenant may not leave before the contract expiry date. The tenant usually pays the equivalent of two months rental as a deposit. This deposit is generally returned at the end of the agreement, providing that there are no unpaid bills or damage to the property. If the tenant does leave before the end of the lease agreement, the landlord has the right to sue the tenant, although this is rare. The landlord may, however, keep the security deposit.
Tenants who intend to move out at the end of the contract period should give notice a minimum of one month before the expiry date of the contract. There is a tacit agreement that without this their tenancy continues.
In general, a rental contract includes the following:
- Name of the landlord and the tenant
- Description of the type of property and its use
- Rental amount, as well as the deposit amount
- The terms of the lease stating the start date and the termination date
- The payment of utilities bills and common expenses
- Rental increase on renewal of the lease
An inventory report should be dated and signed by the tenant and the landlord. This report describes the fittings, fixtures and their condition and the overall state of the property on arrival. Although not mandatory, it is highly recommended to draw up an inventory report.
There are no specific documents required when renting a property, however, the landlord may request proof of income or for a guarantor to countersign the contract. The landlord may also ask for the tax number (AFM).
Household insurance is not compulsory for either the tenant or landlord.