Some owners prefer to let a property to family, friends, colleagues and acquaintances, which allows them more control – and hopefully the property will also be better looked after – even though this is illegal in Cyprus without official certification.

In fact, the best way to get a high volume of lets is usually to do it yourself, although many owners use a letting agency in addition to doing their own marketing in their home country.

You will need to decide whether you want to let to smokers or accept pets and young children – some people won’t let to families with children under five due to the risk of bed-wetting. Some owners also prefer not to let to young, single groups. Note, however, that this reduces your letting prospects. Many people have a minimum two-week rental period in July and August.

Rental Rates & Deposits

Set a realistic rent, as there’s lots of competition and bear in mind that, although you won’t have to pay an agent’s commission, you must allow for the cost of maintenance and the other services an agent normally provides.

Add a returnable deposit (e.g. CY£150 to CY£500 depending on the rent) as security against loss (e.g. of keys) and breakages. This is returnable less any deductions. A booking deposit is usually refundable up to six weeks before a booking, after which it’s forfeited.

Advertising

If you wish to let a property yourself, there’s a wide range of newspapers and magazines in which you can advertise, e.g. Dalton’s Weekly (Tel. UK 020-8329 0222, www.daltonsholidays.com) and the Sunday Times in the UK. Many of the English-language newspapers and magazines include advertisements from property owners. You will need to experiment to find the best publications and days of the week or months to advertise. Note, however, that most owners find it prohibitively expensive to advertise a single property in a national newspaper or magazine.

Cheaper and possibly more effective media are property directories such as Private Villas (Tel. UK 020-8329 0195, www.privatevillas.co.uk) and websites such as those of Holiday Rentals (Tel. UK 020-8743 5577, www.holiday-rentals.co.uk) and Owners Direct (Tel. UK 01372 722708, www.ownersdirect.co.uk), where you pay for the advertisement and handle the bookings yourself. These need to be arranged the previous year.

You can also advertise among friends and colleagues, in company and club magazines (which may even be free), and on notice boards in companies, shops and public places – but not in Cyprus! It also pays to work with other local people in the same business and send surplus guests to competitors (they will usually reciprocate).

It isn’t necessary to restrict your advertising to your local area or even your home country, as you can extend your marketing abroad (or advertise via the internet). However, it’s usually necessary to have a telephone answering machine and possibly a fax machine. The more marketing you do, the more income you’re likely to earn.

Website

A personalised website is an excellent advertisement and can include photographs, booking forms and maps, as well as comprehensive information about your property. You can also provide information about flights, car rental, local attractions, sports facilities and links to other websites.

A good website should be easy to navigate (avoid complicated page links or indexes) and must include contact details, ideally email. It’s wise to exchange links with as many other websites as possible, as this will increase the chance of your site’s appearing via an internet search (e.g. with Google). It’s possible (and cheap) to set up a site yourself but, unless you have expertise in this field, it’s better to pay a professional, or your site may prove counter-productive!

Brochures & Leaflets

Even if you have a website containing photographs and information, you should ideally produce a coloured brochure or leaflet. This should contain external and internal pictures, and comprehensive details of the property, the exact location and local attractions (with a map included).

You should enclose a stamped addressed envelope when sending out details and follow up within a week if you don’t hear anything. It’s necessary to make a home look as attractive as possible in a brochure or leaflet without distorting the facts – advertise honestly and don’t over-sell the property.

Handling Enquiries

If you plan to let a home yourself, you will need to decide how to handle enquiries about flights and car hire. It’s easier to let clients book these themselves, but you should be able to offer advice and put them in touch with airlines, travel agents and car hire companies.