GREECE Trends and Developments Contributed by: Panagiotis (Notis) Sardelas, Fay Vetouli and Lydia Dimakopoulou, Sardelas Petsa Law Firm
EUR12,000. Where the landlord is a legal person, lease income is treated as income from a busi - ness operation and the related expenses are tax deductible, provided they have been included in the company’s commercial books. Unless other - wise agreed, tenants are burdened with stamp duty amounting to 3.6% of the monthly lease. “Green obligations” commonly found in leases All leases, whether residential or business, require a Building Energy Performance Certificate in order to be lawfully concluded under Law 4122/2013. The serial number of the Certificate must be elec - tronically filed with the tax office, along with the other lease details, enabling the tax platform to automatically verify its authenticity and validity. Trends regarding working spaces In the last few years, along with the “sprouting” of Airbnb short-term residential leases, there has been an increase in shared short-term work - ing spaces, mainly office buildings, equipped with standard or more advanced amenities. On the other hand, shared residential spaces with shared facilities, apart from short-term leases, are not common. Leases of Residential Premises Main laws that regulate leases of residential premises The main laws governing residential leases are the Hellenic Civil Code and Law 1703/1987, as amended by Law 2235/1984. There is no differ - ence in the law applicable to cases of multiple occupiers under the same lease agreement. Typical provisions for a lease of residential premises Length of term Residential leases have a three-year minimum term, even when the lease agreement stipulates
a shorter term. The parties may, however, agree on a term exceeding the minimum. Rent increases/controls The lease agreement normally lays down the terms of any annual rent increase, typically infla - tion-index linked. In the absence of an explicit agreement, the landlord may claim adjustments by resorting to the competent court or, under certain conditions, to the regional committees for the settlement and readjustment of rent. Tenant’s rights to remain in the premises at the end of term The tenant is obliged to give up the leased property at the end of the term, without further notice. If the tenant remains in the premises after expiry, continuing to pay the lease and the land - lord accepts such payment, the lease is deemed implicitly renewed for an indefinite length of time and can be terminated by either party or by mutual agreement. Tenant’s contributions to property costs (eg, insurance and repair) The tenant is burdened with utility costs (elec - tricity, water supply, etc). Insurance is not com - pulsory for either landlord or tenant. Repair of damages due to typical or agreed usage bur - dens the tenant. All other damages burden the landlord. The lease agreement may stipulate otherwise. Termination of a residential lease The landlord may terminate a residential lease due to non-compliance with the terms of the tenancy agreement on the part of the tenant (eg, non-pay - ment). There are two main options for termination: (i) by lawsuit terminating the lease and seeking eviction, and (ii) by extrajudicial notice demanding compliance. In the event of non-compliance, after a 30-day lapse period, a request for an eviction
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