Landlords’ peculiar ways
Property market shifting increasingly to higher rents and strange requirements by owners
Apartment rental ads that look plain wrong abound on the internet these days, a sign of the excesses of some landlords, but also of the general shortage of properties either for rent or for purchase that would render the asking prices more rational.
“Newly built apartment in Kallithea, luxury, 5th floor, 63 square meters. Rent 3,000 euros/month,” reads one such ad, leading many users to wonder if the rent figure was a mistake on the part of the real estate agency. The specific property is being asked for instead of the unrealistic amount of €47.5/sq.m., a price that is 10 times that prevailing a few years ago.
It isn’t a mistake, as even in Kallithea, one of the most densely populated areas of Attica, a 42 sq.m. studio is being rented for €3,000/month. This is a property located within a complex of furnished apartments, which are used mainly through short-term rentals. This is also offered for long-term lease. Its price includes cleaning services and a change of sheets and towels once a week, as well as electricity, water, heating and internet costs. The hotel tax is not included.
On the other hand, there are also several cases of owners who try in some way to avoid any cases of non-paying tenants. For example, an owner who rents out a studio of 26 sq.m. for €550/month in the Kountouriotika area behind the Megaro Mousikis metro station, advertises the existence of a strong police presence (due to the location being near the US Embassy). Because the apartment is therefore safer from crime, the owner makes it clear that the potential tenant should have a declared income of at least €24,000 per year.
An owner of a 76 sq.m. apartment in Pangrati is asking €500/month for his property. This is admittedly a reasonable price. The problem is he wants to be paid once a year in one lump sum – i.e. €6,000 each time.
Some landlords who have faced debt problems from tenants in the past have now started asking for a guarantor who will undertake to cover any debts and damages that the tenant will not be able to repay themselves.
