F.A.Q's

Any owner who intends to start offering their property for short-term rental needs to be sure that they are properly informed about the current legal and tax situation. The best way to do so is to consult an expert, such as a qualified tax professional / accountant.

Some key points that apply are the following:

-- Every property that operates on online platforms such as Airbnb must be registered in the Short-Term Stay Property Registry and get the so-called AMA number, which will be publicly listed on the online platforms. No other special approval or license from the Greek Tourism Organisation (EOT) is needed.

-- The entry in the Registry must be done by the person (individual or company) who is considered as the Manager of the property. If that person is not the owner, then there must be a tenancy between the owner and the other person. If you cooperate with us in the management, we will start a kind of lease which, while allowing us to maintain the income percentages between us (75% - 25%), will also allow our company to include the property in the Registry and so that responsibility and work will not be a burden on you anymore. 

-- An owner has the right to offer up to two properties for short-term rental, as a private individual. In order to add a third one, they will have to start a business or outsource them to a third party operating as a business.

-- There are no restrictions on the days a property can operate (eg 90 days) or on the annual income the owner can receive (eg 12,000 euros).

-- Incomes from short-term leases are taxed just like those from long-term ones (up to 12,000 with 15%, from 12,000 to 35,000 with 35% and from 35,000 and above with 45%).

-- As of 1/1/24, two new types of taxes began to be imposed on short-term rentals: the VAT at a rate of 13% and the Climate Change Resilience Fee (formerly the Accommodation Tax). For more detailed information, consult an expert.

Contact us for questions and more details.

Last Update: 02/2024

Absolutely yes. We have been working with many Golden Visa properties during the recent years. When the apartment meets the appropriate conditions of renovation, decoration and location, and when its management is taken over by experienced and distinguished professionals, then it can provide a remarkable steady income for its owners, even if they live completely abroad.

This is something that you have to answer by yourself, after considering the following: where your property is located and what the demand for this area is; what size your property is; how much money you can currently earn from the long-term lease and how much you can earn from a short-term lease; what the legal-taxation regime is and how you can operate within this framework; whether you intend to manage your property yourself or assign management to professionals; how much money and time the preparation of the property will cost; and how fast you wish to recover costs. If you need any help in answering any of the above, communicate with us.

Not necessarily. Your space may also be partially renovated or even remain as it is, under certain conditions. As far as renovation is concerned, we cannot speak in general, since each case is different and requires specific study. If there is a mutual interest in your space, anon-site visit will be necessary from us, so that we can answer the above question together.

The rooms that mostly determine whether a house is "old" or "new", is the kitchen and the bathroom. Moreover, you can focus on the area you wish to highlight as the main attraction of the house, for example a garden or a roof garden with a view. That said, this has also to do with each individual case.

No, by no means. Using more economical solutions, you can create the right environment for guests and offer the most important amenities for them. And since there is often a misconception about which parts a homeowner should invest more in, a good idea is to consult with an expert before making any big purchases.

In most cases, existing furniture may impose such great constraints that it is impossible to give the house its appropriate character; therefore, we must accept that they have to go, in order to create a new house "from scratch". There are, however, some instances when some old piece of furniture, either in original condition or renovated, can fit the property and help attain the desired style. If you are in such a dilemma, we can look at it together and advise you about it.

This depends on many factors, such as the location of the apartment, its size, the short-term lease market in your town or city (supply and demand), and the legal and tax regime. The owner of a well-prepared and efficiently managed apartment that lies within a 3 km radius from the center of Athens can realistically expect to recover their investment within approximately 2 years in case they manage the apartment by themselves, or within approximately 2.5 years in case they outsource management. The investment would cover an important renovation, total furnishing and equipment of the space. The calculations above are based on 2022 market data, and, of course, any deviation is possible in the future.

If you work with us on the creation of the space (Stages A and B), you will start with the assumption that your apartment will be among the best of its kind. If you entrust us with the photoshoot and listing (Stage C), you will know that your space will receive the best possible promotion. If we take over the management of your space (Stage D), then you can be sure that the "job" will be done in an excellent way. The above will give you the supplies to stand tall above the short term rental "competition".

Unless you are a professional photographer with experience in real estate and hotel photography, our answer is no. One of the biggest mistakes many short-term rental owners make is that while they have invested significant capital and time in preparing their space, they "pour the milk over the top" by uploading amateur photos to the platform. Except for the frames, angles and colors that will highlight your space correctly, the specialist's lens gives another important message to the recipient, the sense of quality and professionalism, elements that potential visitors persistently look for before they decide to book. If we undertake Stage C or Stage D for your property, you can be sure we will provide top quality images for its promotion. 

Of course. After all, this is the stage in which we have cooperated and are cooperating with dozens of owners, during the last 7 years. If your space is ready and you want to entrust us with its management, we should do an overview together to find out whether it really meets all the necessary conditions. If so, we will just need a few steps before we can start the cooperation. The opposite, i.e. to take on the task of renovating, furnishing or decorating a space that is not intended for our own management, is unfortunately not possible.

Our fee is 25% on the daily rent of the property. The great benefit for the owners who cooperate with us is that they will be taxed only for their own incomes (ie 75%) and not for all receipts which additionally include cleaning and platform fees. Contact us to discuss all of the relevant details and possibilities.

In areas within the City of Athens and locations not farther than 500 meters from Metro stations. Moreover, special consideration may be given to exceptional cases of high tourist-traffic areas outside the region of Attica.

As far as Athens properties are concerned, we undertake Stage D in full, i.e. we cannot provide bookings, communication, cleaning or space care separately. As far as premises outside of Athens are concerned, we may only take over the bookings and communication, as long as we can cooperate functionally with the owner on the other parts. However, in no case do we undertake only the cleaning or the space care of the property.

 A new listing of the property will be created in our own profile. Except for other reasons for it, an important one is that the recent law about the Short-Term Register requires so. If the owner already has a listing in their own profile, they can temporarily disable it without deleting it, so that they can start managing it again in the future by keeping their own history, in case our cooperation ends. 

Mainly with Airbnb, but in certain occasions we may work with other platforms or use other means of promotion. Out training package concerns only online management through the Airbnb platform.

The owner covers the costs of the monthly bills related to the property (such as electricity, water, internet, heating, utilities), as well as the costs of any repairs or purchases that may be needed to keep the space in the same condition as it was delivered. On our part, there will be always a good cooperation and communication for finding the best solution of any case and facilitating any actions required. The cost of consumables for cleaning and for accomodation is covered by us.

We always make sure to communicate properly with the people we work with. At the same time, when we undertake the management of a property, especially in Athens, this is done in a complete way. This means that we become solely responsible for online display and management, bookings, communication, hosting and cleaning, so property owners can totally rely on us. Our policies and operating methods in the above have been produced from years of study and experience and our daily concern is to maintain the following basic principles: 1. reliability and responsibility, 2. legality and transparency, 3. maximization of the owner's profit. Partners who entrust us with their property can check us at any time for compliance with these principles, while at the same time they should leave us the "job" for which they have chosen us.

Irrespective of whether our partnership is on a percentage fee, or monthly rent, basis, we want you to rest assured that, if sometime you wish for this partnership to end, we will fully respect your wishes. It is crucial, however, to understand that when the property has been booked for the next few months, these bookings cannot be canceled. Although we will try to transfer the visitors to other apartments, it is not certain that we will succeed in doing so, and therefore our partnership will have to end after the last stay has been completed. We usually keep a property's callendar open for no more than the next 6 months. In any case, we are certain that with proper communication, honesty, and good intentions we will avoid any difficult situation and will manage to find any solutions required. 

We invite you to take a look at the spaces we manage and the results we have at short-term rental. We invite you to meet us personally and discuss with us whatever concerns you. We invite you to study our proposals, estimates and offers. And then, we are sure that you will answer the above question yourself.