Greek Holiday Home Letting Regulations

 

An EOT (Greek Tourist Board) license is required whenever property is rented for under 3 months in any one period to a single person or party, and all such property has to conform to EOT regulations.  Once obtained, the license is valid for 5 years.  

If you are intending to rent your property for periods over 3 months, you do not need to acquire a license, but it is still best to check with the local authority. Renting out property on a short term basis is classed as a business and so a licence (EOT) is required. Our associated developers build some properties specifically for this purpose and can assist you in getting an EOT licence for your property where necessary.

To a certain extent the Greeks must be applauded, the issue of licenses is designed to ensure that holiday accommodation is of a sufficient standard, and the government is very keen that visitors to Greece can stay in property that is safe and which will give the holiday maker a good impression of Greek standards. The EOT license will confirm that your property meets the exacting standards of the Greek Tourist board.

Most rental properties on the Greek Islands operate in the summer months only, i.e May to October.  To extend this to include all year round and winter rentals from the local community who work and live on the islands, including British ex-pats, properties would require adequate central heating, satellite TV, and practical utilities (clothes drier etc).

Main costs involved when renting out :

-          Agent fees to rent out your property (optional)

-          Specialised internet website advertising

-          License costs approx 3000-5000 Euros – valid for 5 years .
Thereafter around 300 – 400 Euros to renew every 3 years

The EOT License - as well as the cost, acquiring the license can be quite complicated. The rules vary from one region to another and each property is considered on its merits. Would be holiday home owners are warned that the criteria could change but the following is typical of what's involved. Having access to an architect is vital if you are buying a new home, if you are considering buying an older property, check that you can bring it up to the standards required to obtain the EOT license.

EOT regulations can vary from one Greek island to another. Examples of some EOT specifications are;

*     Property specification must be exactly as per the architect plans and the board’s minimum room sizes must be adhered to.

*     If your holiday home is located within a block/complex, or is a maisonette, then all properties sharing the plot are required to have an EOT license. It will not be possible to acquire a license for just the properties that are rented out.

*     If the property has the benefit of a swimming pool then it must be marked with depth markings and have warning signs around the pool.
Most importantly, if your pool is constructed with a depth of more than 1.70m you must have a lifeguard on duty. Obviously, this is not usually unworkable for villas, so it is vital that any pool you have constructed is not above this depth.

*     Licence to operate swimming pool.

*     Property must be accessed by a public road.

NOTE: If you are considering buying/building with a view to possible rental income in the future, please let us know as soon as possible.
There are certain building standards and requirements associated with rental properties - so it is best to incorporate these at the ‘design’ stage wherever possible.

Many of our properties are built to EOT standards as ‘standard’. For buyers requiring a holiday home for their own personal use only, it is possible to buy according to their own individual design and specification, which will offer greater choice and flexibility to the owner.

 

 

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