RENTAL LAW

It is necessary to arrange and sign a rental agreement. The basic terms of the contract are agreed between the two parties and these include an amount of monthly rent, whether furnished or not, the notice period, the level of annual increase in the rent etc. However, it is written in the law that the owner cannot evict or ask the renting party to leave the premises before a certain number of years have elapsed provided the tenant is paying the rent as per the agreement. The number of years applicable is as follows:-
                                                     (a) for domestic dwelling, 3 years
                                                     (b) for business premises, 12 years
It is common practice to set a rental at inception which does not increase for two years and then have a 5% inflation increase annually there after.

TAXES
Income from rent is taxed as income and is subject to the normal scale of personal tax. If the income is generated via a company structure the tax scale is different. There is no Capital Gains Tax or property tax in Greece.