Buy or sell a villa in Greece: Tips

Normally this advanced discussion topic is to be discussed with lawyers, notaries and other specialists because every case is different and you have to be 100% sure of what is going on with the property you like to buy, sell or inherit. However, due to popular demand, we will inform you about some guidelines for your villas in Greece and the general inheritance laws that apply.

Villas in Greece: Inheritance laws.

In case of a will you need to have a closer look if you like to inherit a possession from a deceased relative. Normally there are 3 different ways of inheriting a property of a relative and they all have to do with wills. The first option of will is a handwritten note from the deceased that he stated to whom he chooses to inherit his or her specific possession.

The second will option is signed in front of a notary public with 3 witnesses and carries the same content and the third will option is given in an enclosed envelope to the notary public by a person before his death with an order to have the envelope’s contents remain secret and shut up until his death. After the death the notary will open the envelope and will contact the inheritors accordingly.

Normally there is no specific time frame for accepting an inheritance of any possession in Greece. However every property in order to be sold and inherited has to be debt free and the owner also has to have no debt towards the state. These parameters have to be sorted out prior to anything else, as it is an insurmountable problem that has to be dealt with at all costs.

Taxation on Greek Villas.

Obviously when having a property in Greece you are obliged to pay all the normal utility bills (i.e. electricity, water etc) as you already do with your other possessions everywhere in the world. When accepting a will, you have to also pay the inheritance tax which has 3 variables and has to do with the proximity you already have with the deceased person. Normally,the closer you are to the person who wrote the will, the less tax you have to pay.

For example, the spouse of the deceased will pay a lot less if she is to inherit a property rather than a 3rd cousin who is to inherit the same property and is given to him by the will of the deceased. The subjective value of the property is also taken into consideration so it is safe to say that if the value of the possession is high, you will have to pay an accordingly higher tax because of the property’s higher value.

Villas in Greece: What Greek state services are involved.

As we already stated, if you like to do anything concerning homes in Greece, you need to have a certified lawyer, accountant and notary public in order to make sure that everything is being done in the proper, official and legal way. Then you have to make sure that everything concerning the land or villa is also shorted out, and has no legal or financial obligations towards the state.

That means that the property has no debt towards the state and all the taxes are also paid off in full. You will likely have to consult the financial department (called “Eforia” ) and also the Greek Land Registry ( “Ypothikofilakio” / “Ktimatologio”’) for more information before starting with the legal transaction papers.

What we endorse.

Judging by our experience, we have seen that every case is different. If you are to inherit a possession in Greece by a close relative we suggest that you stay informed. All the Greek services are now translated fully in English and you can do your research in order to be informed when it’s time to inherit, buy or sell a villa in Greece or generally any other possession.

You can also seek for some case studies, because there are many parameters (as we already gave some examples ) and the amount of money that needs to be paid can heavily differ from case to case. To conclude, you have to always consult specialists in order to confirm, and to apply whatever needs to be done to a successful and safe transaction.

Having too many obligations.

Being busy is not always a bad thing. Many of our clients are very busy working with their jobs or having a business that they simply can not spend any more time managing their property in Crete. Then, it is a very good idea to hire some professionals to do it for them. By this way they are rest assured that professionals are managing their property, and they can focus on things that are valuable for them , either financially or ethically.

Limited time is also one of the reasons our clients choose us. Either you have too many job obligations, or you like to live your life to the fullest, It is completely acceptable for not wanting to associate yourself with the renting stuff and liabilities linked to short term rental of properties. We , and other reputable property consultants or property management companies can solve this burden for you.

Living abroad.

Living permanently into a country far away from your luxury villa in Chania is for sure a suspensory factor when you decide to take advantage of your property in Crete. There are numerous things that demand your physical presence in order to get done, such as the physical communication with tourists, maintenance that has to be done to your villa or some unexpected problems that may come along the way.

Rental management companies can solve all of those problems by appointing professionals to do all of the above tasks on your name. You then can rest assured that things are being done correctly and save a lot of stress and anxiety down the road.

Not into sales.

If you are in Crete and you like to manage your villa for short or long term renting but you are not into marketing or sales, then you may consider hiring professionals to do it for you.

It is pretty normal not to like being a pushy salesman or looking anxiously why the numbers don’t come up for your rental property. Most people either way don’t like to sell and this is pretty normal. However, even if you are already trying to rent your villa on your own, you may be missing on a very big part of revenue that is lost due to inexperience. Either this is due to no sales at some point, or selling at lower prices according to the demand.A successful property management team will try to push those factors to achieve better outcomes for your property.

Want to expand into new markets.

If you are already managing your property on your own, but for some reason you want to expand your rental villa into new markets, then property management is for you. You may have heard that the X country tends to do vacation more in a month where it is considered low season for you. That is OK. However many countries have different attitudes towards spending and have to be contacted in a specific way, apart from the language barrier that may exist.

We have a big expertise in european countries as well as Russia, while many of our expert team speak russian as well. By this way, we help you accomplish your new goals, through our experience and our know-how of many countries cultures, whims and peculiarities.

Life is short.

If you want to focus your patience, powers and efforts into more entertaining, lucrative and cheerful moments in life this is pretty acceptable as well. Life is short, and we all have limited time resources during our day. Just like it is fairly acceptable (obviously!) to let a car mechanic take care of your car , in the same exact manner it is acceptable to consult an expert in property management to take care of your property in order to make the best out of it.

We have to use everyone’s expertise in specific sectors in order to achieve better and more things in life, so we suggest you don’t hesitate in trusting us with your villa in Crete. Many others have already done it through our property management firm, and we welcome you to learn their success stories in a private meeting where we will solve all your queries concerning our operation, property rentals and greek hospitality altogether!

It is , then, normal to see an increasing number of DYI site in the tourism sector as well. However, if you book a villa in Chania through a property management company or a property management holiday advisor still has a steady ground and we will now educate you how.

Personalized vacation options.

Despite the ease of booking through an online booking platform, property management specialists can help you in a more effective way. If you book a villa through a property manager or a property agent you can discuss your thoughts, concerns and problems and ultimately find a better alternative for your vacation.

By this way, you can be certain that you find a rental villa, home or hotel that is specific to your needs, and if something goes wrong you can actually contact someone how has the authority to quickly sort it out for you. The outcome is that you then can finally enjoy your vacation and you are certain that no unpleasant surprises will occur during your departure in Crete.

We love to recommend and help you book a villa.

Even if you don’t know the type of property or how to book a villa that is best to you, or you dont event know your final destination , our property experts can easily pinpoint to you the best selling destinations in Crete or their best properties in order to make your vacation dreams into reality. Again, personalized service is what differentiate us from the norm, and this is why we stand out , because we can offer the best option for you, respecting your problems, thoughts and concerns.

Complicated? We over simplify it for you!

Over the years we operate as a property management company in Crete, we have found out that many of our customers are trying to book a villa in Chania from far away (Russia, Australia or even further) and vacation in Greece is only a small part of their 2-3 month leave from their native country, into a life changing trip. Careful coordination is paramount in order to avoid losing flights, having delays and of course solving problems before they occur.

This requires good skill and a lot of travelling experience. By choosing a property management company to short it out for you , you are completely sure that because of their expertise and experience you will avoid common problems and mistakes that tourists tend to do when dealing with long travels into multiple destinations. We invite you to trust us into this very important “trip of a lifetime” that you are planning to do!

Take advantage of our hidden gems.

Another big advantage that holiday advisor companies have is that through the years they have builded established connections and collaborations with travel agents, hotels, tour operators and every profession concerning tourism all over the world. This has a good aftermath for you as a traveller, because you will certainly find some secret deals and offers.

By taking advantage of the deals we have exclusive access to, you can save some money on the front line, but also you can experience a more private vacation experience or even take part in some unknown trips that only locals (or very professional travellers ) usually do. This will result into greatly elevating your vacation experience.

Thinking the important things before you do.

Because of our huge experience in programming vacations we are sure to say that we have expertise in finding solutions even before the problems occur for you. This might be some good recommendations on where to go- or not to go- in Crete, or a good place to temporarily stay for a long hour layover into a distant airport. In some cases, good property management companies will also take action before you decide, saving you fuss and problems beforehand, and enabling you to focus on your precious vacation rather than the vacation details.

VIP DETAILS!

Many of our clients are contacting us because they would like to make their honeymoon an unforgettable experience, or maybe because they are celebrating their 40th wedding anniversary. These occasions certainly demand a VIP service package which obviously can’t be done without knowledge.

Property management firms know who to contact in order to fulfill your expectations in the most effective way, so you are rest assured that your time and money will be well spent on the things (and the VIP experiences) that really matter.

We got you covered at all times!

Finally, one of the best advantages of a property management company is that you have peace of mind throughout your stay/vacation. If something goes bad in home, or you just have a change of plans at the worst possible time, you can rely on us to sort the problem for you without getting anxious and look desperately for solutions.

We can act professionally, swiftly and in a discreet manner, in order to solve any small or big problems that can occur during a long vacation away from home. We welcome you into a stress free world, where we want you to be happy, stress free and enjoy life as you desire. We , at PAFOS- IKE will take control of everything else, for you.

An increased amount of bookings also means an increased amount of revenue turned back to you as the property owner, and this is the paramount goal of PAFOS-IKE as well. Delivering value to the customer was always our primary goal, and many of our clients can certify that. According to our work ethics and the way we work as a team we have compiled the three main ways our company is delivering better results and completing the goals we set with the customers.

Thriving through partnerships.

Over the last years, we have built a big and reliable network of partnerships. Those partnerships help us open new potential markets and search for clients with a better median spending habit, resulting in better overall revenue to the villas and hotels we have marketing contracts with. One big part of our partnerships comes from Europe and Russia, as our parent company Kyriakidis (specializing in construction) have built solid relationships due to the high quality building standards it has over 30 years of construction.

Partnerships can also help us broaden the tourism calendar for every property we manage, as different nations have different tastes into the season they decide to travel for vacation in Crete. We could say that the more partnerships we have created and still create, the merrier as we expand into new markets, new potential customers and new-next era- visions on the tourism industry altogether.

Property Management Companies: The ace in hand.

One can obviously try to rent his home or luxury villa short term in one of the many famous booking websites they exist. However property management companies can help your home, villa or hotel achieve a lot , lot more as they have exclusive co- operations with agencies, tour operators and many times close connections with individuals that want to rent (short-or long- term) something in your area.

Property Management companies usually have collaboration with tourism experts in other countries and have established a huge network of affiliates in order to help each other with bookings, inquiries and offer best, fast and reliable value to the customer.

By having a rental management / property management company you can achieve more by taking advantage of the said partnerships. You will gain faster booking times, occasionally better quality of bookings and you can save money at the same time as commision usually is less -or even zero at same cases- in comparison with traditional villa booking sites. We insist that you do take advantage of relationships, partnerships and contracts that property management companies have achieved over the years and help boost your bookings even more.

Moreover, you should bear in mind that increased collaborations with tour agencies abroad, other property management companies, and individuals all mean an increased possibility for bookings to your property. We tend to describe every collaboration as a different marketing funnel for the final promotion of your property. You, as our beloved client, can rest assured that because of the number of partnerships, we differentiate from the simple villa booking site and we can – in practise- deliver to you better results.

Villa Property Managers- Providing you years of expertise.

In contrast to the regular booking sites all over Crete, property management firms like PAFOS – IKE have an extensive network of experts in marketing that can deliver the best results for every individual property they manage. This is regularly a service that you pay extra (i.e. higher commision) in the normal booking sites as they have limited resources for the amount of properties they manage.

However, at reputable property management companies we have a more exclusive and secluded network of properties we manage and we can focus our efforts into those, getting the best results. As a matter of fact, how successful we are has to do also with the salary we end up getting at the end of the month.

Thus, our experts are constantly trying to offer the best and most humane approach possible when looking for potential markets and in addition to the marketing expertise, we can finally get you the best potential outcome.

To finalize, we can certainly say that our multitudinous sales and marketing team knows where , when , how and to whom it has to propound your property, for the best results of both sides, you as an owner, and us as the collaborator.

Hospitality- Airbnb Management: The basics.

Airbnb management companies as well as tourism experts can help your property thrive in a steadily increasing competitive tourism market in Crete. Property management companies have the know-how in order to help your property establish a good brand name in the tourism sector and thus help you get more bookings and an increased income. Most villas management companies are professionals and they have a dedicated team for bookings, advertisements, marketing and everything in between.

Good management companies in Chania have an extensive knowledge of every marketing procedure, and know the marketing funnel well in order to direct the potential client into the right direction, in the right time, with the right promotion at the right price.

Advantages of property management companies in Crete.

Many greek property owners, and especially owners from overseas are hiring property management companies like PAFOS-IKE. Many of them are living abroad and thus lacking the physical contact that is needed for managing a property in an effective way. Most property owners agree that they had an increase in the number of bookings and as well as the final income when having a collaboration with a professional, rather than managing their property allone.

Management Consultants: Goal Driven Performance.

A big plus for property management companies is the fact that they are liable for the results they return. This means that every property management company will try in order to get you the outcome you demand in order to accomplish your set goals. Those goals, in the end, are the best way to pinpoint that things were done effectively and successfully in your home as well. Needless to say that marketing consultants also have a very strong incentive, as they get paid by results, and a higher success rate for your villa means also a higher payroll for the marketing consultant of your villa.

Trust the professionals and live stress free.

According to the kind of contract you will establish with a professional property manager you can rest assured that a company will take a very big percentage of responsibility off you or you may give the management company full jurisdiction for renting your property. By this way, you can live a more stress free life and in the end concentrate on the things that really matter in your life. Professional expertise is again guaranteed to give you the best results possible, whereas you take advantage of the financial outcomes without having to worry about mundane tasks such as checking in, sending emails and answering the possible client’s questions and worries.

Professional Results. Every Time.

We are glad to admit that many of the property management companies have a huge experience and have done management to a big amount of properties, delivering good outcomes. This is crucial for your property as well, because property management firms in Crete know the peculiarities , the common problems and the frequent bizarreness of the customers. This is because of their huge experience, that finally leads to extremely fast and reliable problem solving that can also save you money, trouble and a lot of fuss in the long run.

We, at PAFOS IKE, are always keen on delivering the best results for you, respecting your needs and problems and turning them into successful solutions. Contact us today in order to show you how we successfully manage other properties all over Crete, the difficulties we overcome and the financial outcomes we finally deliver to those who trust us!