Looking for house for next year

Looking for a long term rent? Post here. Don't forget to mention which area in Crete you are looking for.
der
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Looking for house for next year

Postby der » Sat Jul 23, 2011 9:17 am

A friend of mine is coming out next year, hopefully for about 3 months or so. They are looking for a house with up to four bedrooms, not far from the beach, not too far from Chania. And it would be nice if it had a pool. Easy, eh? Anybody got anything suitable for June/July/August next year?

mouche
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Postby mouche » Sat Jul 23, 2011 1:01 pm

Any idea as to what pricelevel they have in mind?

moggieman
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Postby moggieman » Sat Jul 23, 2011 5:45 pm

Most expensive time to find a holiday home
Last edited by moggieman on Sun Jul 24, 2011 9:37 am, edited 1 time in total.

Carolina
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Postby Carolina » Sat Jul 23, 2011 7:39 pm

Moggieman I've deleted your link.. you are purely advertising... unless the original poster tells me they'd be interested in paying 12,000 euros for a 3 month rental...

der
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Postby der » Sat Jul 23, 2011 9:40 pm

This is an honest enquiry about renting a place for two to three months. Not quite sure how much they are willing to pay. Of course if I did give any indication then that might be jumped on as a price. It's a kind of how long is a piece of string type question. If somebody does have a place to rent pleae give me some idea of what it would cost. I'm doing a favour for a friend here here so please help me out if you have any leads!

mouche
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Postby mouche » Sun Jul 24, 2011 9:25 am

der wrote:This is an honest enquiry about renting a place for two to three months.


Reason for me asking is that we are presently building a new home, villa, with four+ bedrooms, two bath and swimmingpool on a nice lot (2500 sqm) with view towards the white mountains as well as Souda Bay, located about 20 kilometer from Chania and 1,5 kilometer from the beach in Almerida in Apokoronas. The house will be completed october/november this year and we are considering renting the house, but ideally only to people we know as the house is basically built for our own use and not bought/built as a rentalplace as such. We could, however, consider renting the house for the period you're mentioning to the right people and at a fair price. We are not looking to make the last dollar (euro/pound) but as said at a fair price to the right people. Honestly don't know what "!right" price would be and that's why I was asking if they have a price in mind/a budget.
The house will be fully equipped with brand new furniture/beds/appliances etc

Would welcome any comments from other members here as to what pricelevel one could expecte (fair price!) for the property as described.

Feel free to communicate further via PM.

moggieman
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mouche

Postby moggieman » Sun Jul 24, 2011 9:47 am

Make sure it is for three months or more anything less will be breaking the E.O.T. rules.

Carolina
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Postby Carolina » Sun Jul 24, 2011 10:14 am

An average rental for a long term rent for a large furnished house is probably in the 500 - 600 euros per month range. See some rental properties in that range here

filippos
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Postby filippos » Sun Jul 24, 2011 11:12 am

I'd have thought that was a bit low, Carol, for a property of that size/location/facilities.

I know we're not talking a 2 weeks holiday let but most people would expect a lot more than €500/600p.m. for three months at the height of the holiday season. I'd certainly expect to get a higher rental, especially when much more modest properties - e.g. under 90m2, 2 bed, no pool - are getting rentals in the order of €550-€650 for 12 month rentals.

A couple of other places to look, both professional and reliable, [as are Minoan] are:-
crete island and alpha omega, both in Kalyves.

Carolina
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Postby Carolina » Sun Jul 24, 2011 11:41 am

Isn't the holiday season irrelevant for a long term rental Filippos? If they can't let as a holday rental it shouldn't make any difference whether the months are Jun-Aug or Nov- Feb. Any places that are specifically holiday rentals will likely be prohibitively expensive.

It's possible, however, that the rental may be increased slightly for a short 3 month let as opposed to a yearly let.

On those links above:
Stone house with pool 600 euros / month
Two bed villa 500 euros/month

filippos
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Postby filippos » Sun Jul 24, 2011 12:23 pm

Carolina wrote:On those links above:
Stone house with pool 600 euros / month
Two bed villa 500 euros/month
Anyone can pull out random samples to supports a case. I could go through and find others at higher prices but I'm not in the market and prefer to spend my time in other ways.

However, re those you quote. 1. No indication of size/location/number of rooms
2. A 2 bed "villa" [no mention of pool] hardly compares with a 4+ bedrooms/2 bath on 2.5 stremata.

der
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Postby der » Sun Jul 24, 2011 4:28 pm

Thank you for all the replies. I will send the info on to my friend.

Jean
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Postby Jean » Sun Jul 24, 2011 7:37 pm

An average rental for a long term rent for a large furnished house is probably in the 500 - 600 euros per month range.


I searched for a large (130sq.m +) rental house (albeit unfurnished) for a year within 20km of Chania so I think that I have an idea of what prices are. I'd say Euro 500 to Euro 900 is about right. For Euro 900 you are looking at something brand new, top quality built, great location and around 200 sq.m in size (3 - 5 rooms + large living room) and Euro 900 is still on the expensive side.
Also these are last year's prices and prices are falling.

mouche
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Postby mouche » Sun Jul 24, 2011 10:27 pm

So 900 euro per month is expensive for a house like the one asked for here for the months of july and august? I would say it's cheap per week for those months and at this price well below prices quoted on the internet!

maidentales
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Prices

Postby maidentales » Sun Jul 24, 2011 10:28 pm

You mean, prices are continuing to fall and you would be right.

With so many rental properties to choose from, it is becoming a renters market, not a landlords/ladies market but there comes a point when the property is no longer worth letting out due to maintenance costs/cleaning/repairing after rental etc.

For a 4 bed, furnished property (regardless of the time of year as with a long term rental this has no bearing) you should expect to be able to achieve a rental based on 550-650 pcm exclusive of bills - much higher than this and you're likely to find many other alternatives available if your friends have a good look around.

As for the landlord/lady - expect grief no matter who you rent to if it's your brand new home as things WILL get damaged, broken and messed about no matter what your tenants may say - so expect some discomfort from tenants staying in your brand new home if you rent it out, i,e,. don't expect your home to remain shining brand new once tenants have used it.

I mean no offense here but most people will not look after the property in the way that you would yourself - especially during the summer months when they are likely to feel more like they are 'on holiday' rather than living there.

The shorter the rental term the higher the risk to the property - so build this in and most definitely ask for a deposit of at least the first month's rent and make sure even that you get all the funds upfront, including the deposit as you would be surprised to find how many people would try to get away without payment of bills ....

Not that I am saying the friends of the person who is asking are dishonest - but people are very surprised at the high cost of living in Crete and therefore may try to cut corners.

Also ask for names, passport numbers, identification, utility bills. First time renting a property to tenants means you need to be stricter than usual and not to accept everything that you are told as people have a tendency to take advantage.

It's a bit of a cruel situation on short term lets and really no offense is meant towards the potential tenants - only trying to urge the need for caution by the landlord/ladies on who they let to, especially if they haven't let a property before and don't know the pitfalls.

Also, trying to gauge how much a tenant has to pay in utility bills for a shorter let is difficult due to bi-monthly bills payments and the fact that, if you take your own reading, it is unlikely the office (electricity/water etc.) will be interested in adjusting their records - so know roughly how much you use at the property and learn to read Greek bills before passing on the bills to the tenants to ensure the bills paid by them are correct and you don't lose out and they don't end up paying too much.

As for rental prices, word of mouth usually gets a better deal and there are 3 bed almost brand new furnished properties available for long term lets at 200/300 Euros pm - but not usually those that are advertised as being next to the coast with the luxury of swimming pools etc.

Some of these other properties are out of the way, much better than being in the tourist area and in a far cheaper area for restaurants etc. So if the property is in a popular area, the tenants need to be aware that the prices in those areas (supermarkets/restaurants etc.,) are likely to be much higher than those in the surrounding smaller villages.

What surprises me most of all is that development on the island is allowed to continue at the rate that it has been and it is almost spoiling a beautiful place in which to live with all these new houses springing up everywhere - it must by now be getting near to bursting with the lack of resources available to the people who live there (e.g., falling water levels, more cars on the National Road in the summer).

I suppose it's the Greek Government continuing to issue licenses to build so that they can continue to receive their much needed finances from IKA.

There must now be more houses on Crete and more rental properties than there is a demand for housing, which helps to keep prices lower than has been expected in the past.


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