Crete’s Tough EOT License Stance for Holiday Home Rental – a Beacon to Cyprus
In early August an article in the Cyprus Mail lamented the chaos of the holiday home rental market there, used references to Crete as a beacon to Cyprus, in which it says:
So serious has the problem become in some European holiday destinations that the local tourist boards are now automatically denying any applications for the renting of private homes.
In Crete the Greek Tourist Board (EOT) insists all rental properties must be registered and inspected by the EOT and anyone who buys to rent out their property may well have anything up to 7000 pounds sterling added to the cost of the purchase price.
If the property doesn’t have the appropriate licence and a customer has an accident in the pool or there’s a fire, no amount of customer liability in the world will save you from a manslaughter charge, deportation from Greece, or at the very least a hefty fine.
Crete certainly does have stringent laws in this respect, and it is time that they were made more public. It is costly and frustrating getting an EOT, and at least one of the requirements is counter-productive-who wants a stranger on duty at the swimming pool of a private villa?
I would positively discourage anyone from buying a house in Greece with the aim of letting it for profit.