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Cyprus Eastern Forum Index » Ask Nigel A Question » Renting Land
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Renting Land 
Post: #1   PostPosted: Thu Sep 13, 2018 11:32 am Reply with quote
andreascairns
Joined: 11 Sep 2018
Posts: 4
Pictures: 0

 
Dear Nigel, I am new to the forum and hope you can help me. I have a piece of land sitting empty at the moment next to Oroklini and have been asked by someone if they can rent it for 7-10 years (though I am thinking less time), they want to place two pop up flourish businesses and are willing to connect the water and electrics at their cost.

If I decide to go ahead;

. What rent should I expect?
. Will the person have certain rights to the land if they are a long term tenant?
. Do I use the tenancy forms on this site or have a solicitor?

The difficulty is that I am in England and he lives in Cyprus.

Thank you in advance for your assistance in this matter.

Kind regards,

Andreas Cairns
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Re: Renting Land 
Post: #2   PostPosted: Thu Sep 13, 2018 11:39 am Reply with quote
Blossom
Joined: 07 May 2015
Posts: 1178
Pictures: 0

 
andreascairns wrote:
Dear Nigel, I am new to the forum and hope you can help me. I have a piece of land sitting empty at the moment next to Oroklini and have been asked by someone if they can rent it for 7-10 years (though I am thinking less time), they want to place two pop up flourish businesses and are willing to connect the water and electrics at their cost.

If I decide to go ahead;

. What rent should I expect?
. Will the person have certain rights to the land if they are a long term tenant?
. Do I use the tenancy forms on this site or have a solicitor?

The difficulty is that I am in England and he lives in Cyprus.

Thank you in advance for your assistance in this matter.

Kind regards,

Andreas Cairns
Hope you dont mind me butting in, have you checked with the council, that they will be permitted to run a business on your land? before renting it out to them.
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Post: #3   PostPosted: Thu Sep 13, 2018 3:52 pm Reply with quote
andreascairns
Joined: 11 Sep 2018
Posts: 4
Pictures: 0

 
Hi Blossom, didn't think about the council.Something to look into.

Many thanks.
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Post: #4   PostPosted: Thu Sep 13, 2018 4:20 pm Reply with quote
Blossom
Joined: 07 May 2015
Posts: 1178
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On a side note. one of my neighbours had a plot of land in Nicosia, he bought it with the intention of handing it over to his kids when they grew up and wanted to build a house, so he agreed to rent it out to a nephew of his to use as a car lot, at a very low rent, fast forward twenty odd years. his asked his nephew to vacate it, nephews refusing, could take years and thousands to get him out through the courts...
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Post: #5   PostPosted: Thu Sep 13, 2018 7:08 pm Reply with quote
andreascairns
Joined: 11 Sep 2018
Posts: 4
Pictures: 0

 
Blossom, thank you for your side note, sharing your neighbour experience is both, useful and valuable.

Greatly appreciated :D
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Post: #6   PostPosted: Thu Sep 13, 2018 7:31 pm Reply with quote
nhowarth
Forum Moderator
Forum Moderator
Joined: 30 Aug 2005
Posts: 4917
Pictures: 9
Location: Erimi, Limassol

 
Hi Andreas

Earlier replies have warned of the potential problems. As for rental income I have no idea - no statistics are pullished. Gross yield on farmland in the UK is around 1.6%.

Regards,

_________________
Nigel Howarth
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Post: #7   PostPosted: Thu Sep 13, 2018 7:47 pm Reply with quote
andreascairns
Joined: 11 Sep 2018
Posts: 4
Pictures: 0

 
Hi Nigel,

Thanks for getting back to me.

I agree about the potential problems. Blossom info has pretty much made me decide what to do.

Kind regards,

Andreas
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Renting Land 
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