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Professional Cyprus Property Management

Our property management specialists offer a full range of services to property owners including: rental services, financial management, maintenance and resale services.

If you are currently managing your own property, you know that it requires a lot of time and effort. Let our professional property management specialists help you today!

Our goal is to achieve high quality of service, quick response and sufficient information. Our solution is a combined effort of all our members each with their own expertise to provide a complete service. We try to understand the needs of our customers, service them and even exceed their expectations. We never settle for average!

All Inclusive Property Management

  • Finding suitable tenants/checking background and references
  • Preparing rental contracts
  • Collecting down-payment and monthly rents
  • Depositing rents in the owner’s bank account
  • Record keeping of the tenants and their rental payments
  • Repairing and maintenance work
  • Payments for all expenses/taxes that the owner must pay
  • Financial reporting
  • Constant communication with owners on all outstanding issues
  • The Property Management team also offers services for building common areas

For more detailed information about our professional services please contact us at info@c21cy.com or call us at +357 25580030

The real estate sector is one of the bright-spots in the Cyprus economy. Its growth has surpassed that of the other sectors of the economy. For example, the real estate sector grew by almost 6% in 2018. This was much higher than the overall economic growth of above 4%. The growth of this sector has led to the need of quality Cyprus property management services. These managers help to simplify the process of investing in the real estate sector.

Why Cyprus Real Estate Sector is Booming

There are several reasons that explain the current boom of the Cypriot real estate sector. At CENTURY21, we have been involved in the Cyprus real estate sector for years. We attribute the growth in the real estate sector to the following five reasons.

Cyprus Investment Passport

Professional Cyprus Property Management

The first main reason why the real estate sector is performing well in Cyprus is because of the Cyprus

investment passport. This is a passport that is given to investors who invest more than $2 million in the country. The recipients become Cyprus citizens. They also become members of the European Union. As a result, this passport has become popular among rich foreigners.

Retirement destination

Cyprus is a developed country that has high quality standards of life. The cost of living in the country is relatively easy. Therefore, the country has become an important retirement destination from many retirees from Europe and America.

Low interest rates

Cyprus is a member of the European Union. As a result, the cost of borrowing in the country is very low. This has led to a boom in the construction industry because of the low cost of borrowing money coupled with the increased demand.

Foreign Investments

After the 2012 financial crisis, the Cyprus economy has managed to turn itself around. Part of the reason for this is the high levels of foreign direct investments. Many companies have moved to set up operations there. This has brought a new population that has increased the demand of these properties.

Tourism industry

Cyprus is known for its vast tourism resources. The number of tourists is rising as people come to experience some of the best beaches and tourism resources. This has led to demand for hotels and vacation houses.

Why Developers Prefer Cyprus Property Management

In the past few years, CENTURY21 has emerged as the best and fastest-growing Cyprus property management company. We have a diverse team of real estate development professionals with a vast knowledge of the industry. We have observed that developers prefer using Cyprus property management for the following reasons:

Expertise

Property developers in Cyprus are good at building projects. Most of them are not good at managing these properties. They can’t market and sell them. At CENTURY21, we have a team of professionals that has a good track record of managing projects.

Focus

Many specialized real estate developers are good at coming up with projects and implementing them. As a Cyprus property management company, we help them achieve this goal by implementing the numerous small details.

Large network

A good Cyprus property management company needs to show results to the developers. At CENTURY21, our biggest asset is our large network. This is because we are one of the largest real estate company in the world. For example, this large network helps us to sell properties faster to international clients.

Economies of Scale

A main benefit of having a Cyprus property management company is that of economies of scale. For example, one of the main duties of a property management company is to conduct regular maintenance of properties. As such, one company can do maintenance for several real estate development companies.

Streamlined workflows

Another benefit of having a good Cyprus property management partner is to streamline your workflow. This means that you are dealing with one company for specific details. For example, developers can have one liaison persons for all activities.

Work Done by Cyprus Property Management Companies

Property managers do a lot of things. Ideally, it is recommended that property developers work with property managers that offer multiple services. Some of the Cyprus property management services that we offer are:

Property marketing

The real estate industry is multifaceted. It has so many moving parts. As such, it is common to see developers who are not talented in sales. One of the core duties of a Cyprus property management company is marketing. It is their duty to create a marketing strategy and ensure that the properties are well-occupied.

At CENTURY21, we have a team of property sales professionals in all cities in Cyprus. We also draw our experience from the large global network of our parent company. We create a good marketing strategy and help developers fill their projects. We have a lot of experience in marketing various types of properties like land, residential, and commercial organizations.

Rental contracts

If you have leased a property before, you know that the process involves a few steps. You also know that in most cases, you don’t deal with the property developer directly. You deal with a property manager. At CENTURY21, we help companies come up with rental contracts. These contracts help to ensure that the tenant is in good standing with the property owner. As one of the biggest Cyprus property management companies, we help ensure that all tenants have signed and are following the rental contracts.

Collection of rent

Building a property is usually a difficult thing. It takes years to ensure that the property is developed. In most cases, the property is usually completed after the schedule. While building is a complex thing, collecting the rent is usually harder. It is usually harder for developers with many projects. At CENTURY21, we use technology and human skills to ensure that the rent is paid on time. We also ensure that tenants who delay paying their rent pay a penalty.

Due diligence of tenants

The law of Cyprus and other countries dictate that tenants disclose a number of personal details. This is done in accordance to the Know Your Client (KYC) and Anti-Money Laundering (AML) laws. A good Cyprus property management company is supposed to conduct a due diligence on the tenant. This helps to remove liability from the developer. At CENTURY21, we have a unique strategy that helps to conduct due diligence in a friendly way.

Repairs and maintenance work

A major part of any real estate project is repairs and maintenance. The annual cost of repairs is in billions of dollars. Most developers hate dealing with these maintenance services. At CENTURY21, we have an experienced team of multifaceted professionals. As the leading Cyprus property management company, we help our tenants have an excellent stay by conducting repairs and maintenance as soon as an issue is reported.

Financial reporting

Financial reporting is an essential part of any real estate project. Developers need to see the amount of money that is coming in and going out. One of the roles of a good Cyprus property management is to ensure that financial results are written and demonstrated well. At CENTURY21, we always present accurate reports to our clients.

FAQs on Cyprus Property Management

What are the qualities of a good Cyprus property management company?

As a developer, there are many companies that you can chose in Cyprus. Indeed, the current boom in the real estate industry has seen the number of local and international property managers increase. As a developer, you should select a company that has four qualities.

Global perspective

Most of buyers of properties in Cyprus are foreigners. It is essential that you get a Cyprus property management company that is global in nature. This will help ensure that your properties are marketed to a global audience.

Trustworthy

Property managers are usually involved in your properties. They know a lot about your properties. Therefore, it is essential that you ensure that the property managers are trustworthy people. You need to trust that everything they say is correct. At CENTURY21, we have grown so fast mostly because of the trust we have built with our partners.

Results oriented

A good Cyprus property management needs to show results. If you have contracted them to market your property, they need to show results by bringing new clients. Similarly, if you have contracted them to ensure that your properties are clean, you should see these results. At CENTURY21, we are a results-oriented company that works with the biggest brands in Cyprus.

What does a property management company do?

As mentioned above, property managers do a lot of work. This work is usually geared towards making life easier for property developers. Some of the work that is done by property managers are marketing, rent collection, property repairs and maintenance, due diligence and financial reporting.

What are the benefits of a property management company?

Cyprus property management companies offer developers several benefits. First, they do simple work that developers would rather not do. Second, they help developers fill their projects first. They do this by marketing the projects efficiently. Third, they offer a cost-effective way of managing multiple properties. Fourth, property managers are essential in helping developers unlock the potential of their developments.

Should developers hire one or more property management companies?

It is recommended that all property developers or even individual sellers work with property management companies. This will help them run their companies efficiently. It will also help them be more successful developers. Indeed, the biggest developing countries in the world have become this successful partly because of the managers they use.