North Cyprus Property Management

Summary: This article examines what’s essential for the absent home owner and how to go about securing a good property management service in North Cyprus.

Since North Cyprus firmly established itself on the global emerging property market map back in 2004 the amount of villa and apartment construction taking place has sky rocketed; many of the larger projects that began back in 2004 and are now coming to completion and 2006 is turning out to be the year when all those who bought their dream holiday home in the sun in North Cyprus finally get to enjoy the fruits of their investment.

But with completed holiday homes and investment properties comes the next issue to consider…taking care of and managing the property when the owner is absent for weeks or even months at a time.  In North Cyprus property management companies are now springing up almost daily - all offering home owner’s services such as cleaning, maintenance and even property letting.  This article examines what’s essential for the absent home owner and how to go about securing a good property management service in North Cyprus.

The range of property development that has taken place in North Cyprus covers everything from apartment complexes such as the Palmiye sites by Ozyalcin Construction and Sahara by Boyut, to single bespoke properties like those built by Koroglu and Torris – some constructors and estate agencies offer purchasers property management services and on large developments there are often management services included as part of the purchase package as the constructor is well aware that a lot of the homes being bought in North Cyprus are for investment purposes and will be let out to tourists.

Turquoise Bay Golf and Spa Resort as well as Aqua City, both developments being offered by Henry Charles Estates in Kyrenia, are examples of developments being targeted mainly by those in search of investment property in Northern Cyprus and for whom the developer is including an onsite property management service to take care of everything from the everyday maintenance of properties to the regular cleaning and servicing of properties and the on-going letting of the real estate to tourists.

An alternative for those who want property management services included in the purchase package are the developments in North Cyprus available for sale that guarantee the investor a rental return for a fixed number of years, these developments not only have a property management company associated with them but they manage the letting of the property entirely so that the real estate can be bought by an investor wishing to remain 100% hands off. 

For those who buy a holiday home or a one off property as an investment in North Cyprus they have to wade through all the companies offering property management services and determine which one is best!  There are a number of factors to consider such as the number of clients the company already has and whether you can speak to any satisfied customers for a reference, the amount of time the company has been in business - although there hasn’t been a demand for this type of service in North Cyprus for long, there are some companies who have been around years rather than weeks!  Whether pool maintenance is required and if so if it is included, is garden maintenance required and included, who will be the primary key holder, will the North Cyprus property management company handle the change over between guests etc., and of course the monthly price charged! 

If at all possible take a recommendation for a property management company from someone who uses such services, if not ask the developer or estate agent you buy from whether they offer such services and/or recommend a company.  Get to know your neighbours and ask them as a favour to keep an eye on anyone you employ for the first few times they visit your property and get insurance to cover any loss or damage to property either by the management team or by those who let out your property because accidents can happen!

To find companies offering North Cyprus property management services try The Buzz Book or North Cyprus Yellow Pages, both of which are available online – or look in Cyprus Today or The Cyprus Times newspapers for companies advertising their services.

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