Navigating Property Management in Greece: An Expat’s Essential Guide

Reading time: 12 minutes

Table of Contents

• Introduction to Greek Property Management
• Benefits of Hiring Property Management Companies
• Core Services Offered by Greek Property Managers
• Regional Considerations for Property Management
• How to Choose the Right Property Management Company
• Understanding Management Costs and Fees
• Legal Considerations for Foreign Property Owners
• Case Studies: Success Stories and Lessons Learned
• Technology and Modern Property Management
• Your Greek Property Journey: From Selection to Management
• Frequently Asked Questions

Introduction to Greek Property Management

Imagine stepping off the plane into the warm Mediterranean breeze, knowing your Greek property investment is in perfect hands. For expats who’ve fallen in love with Greece’s azure waters and timeless villages, property ownership represents both opportunity and challenge. Whether you’ve purchased a holiday home on a sun-drenched Cycladic island, a property for sale in peloponnese, or an investment apartment in Athens, effective management transforms potential headaches into hassle-free enjoyment.

But here’s the reality check: navigating property ownership in a foreign country isn’t just about having the keys. It’s about understanding local regulations, building reliable maintenance networks, and bridging cultural and language barriers. This is where specialized property management companies become not just useful, but essential for many expats.

In 2023, Greece has continued its upward trajectory as a prime destination for property investment, with foreign purchases increasing by 34.4% compared to pre-pandemic levels. With this growth comes an evolution in property management services specifically tailored to international owners.

Benefits of Hiring Property Management Companies

Let’s cut to the chase: managing a property remotely across borders presents unique challenges that even the most organized owner struggles to overcome. Here’s why professional property management makes a tangible difference:

Overcoming Distance and Language Barriers

When your property is thousands of kilometers away, even simple tasks become complicated. Need emergency plumbing at 2 AM in your Athens apartment while you’re in London? Property managers provide that crucial local presence, responding immediately to issues that would otherwise require expensive flights or stressful long-distance problem-solving.

As Maria Kontomichalou, CEO of Athens Premier Property Services explains: “The language barrier remains the number one challenge for our foreign clients. Even expats who’ve learned conversational Greek struggle with technical vocabulary when discussing legal documents or repair specifications with local contractors.”

Maximizing Rental Income Potential

For those using their Greek property as an investment, professional management significantly impacts profitability. Consider this reality: professionally managed properties in prime Greek locations typically achieve 24-37% higher occupancy rates than self-managed counterparts, according to 2023 data from the Greek Vacation Rental Association.

Management companies leverage local market knowledge, professional photography, strategic pricing algorithms, and multi-platform marketing to maximize your property’s visibility and appeal. They handle everything from guest screening to seamless check-ins, ensuring top-tier reviews that further enhance booking potential.

Core Services Offered by Greek Property Managers

Property management companies in Greece typically offer service packages tailored to different owner needs, from basic maintenance to comprehensive management solutions:

Essential Property Maintenance

The cornerstone of property management is maintaining your investment in prime condition. This includes:

• Regular inspections to identify potential issues before they become costly problems
• Seasonal maintenance – particularly important in coastal properties where salt air can accelerate wear
• Contractor coordination for repairs, renovations, and improvements
• Garden and pool maintenance – essential for vacation properties
• Utility management including bill payments and seasonal service connections/disconnections

Unlike self-management approaches where finding reliable contractors often involves trial and error, established management companies work with vetted professional networks built over years of operation.

Comprehensive Rental Management

For investment properties, full-service rental management typically includes:

• Market analysis and dynamic pricing to maximize rental income
• Professional marketing across multiple platforms with optimized listings
• Guest communications and screening
• Check-in/check-out management
• Cleaning and turnover services
• 24/7 guest support
• Review management
• Financial reporting and tax preparation assistance

Picture this scenario: An American couple purchases a villa on Corfu but can only visit twice yearly. Through professional management, their property generates €26,000 in annual rental income during their absence, with the management company handling everything from marketing to maintenance, all while preserving the property’s condition.

Regional Considerations for Property Management

Property management needs vary significantly across Greece’s diverse regions. Let’s explore the unique management considerations for different areas:

Island vs. Mainland Management Challenges

Island properties present unique challenges that significantly impact management approaches. On islands like Santorini, Mykonos, or Corfu, seasonal extremes mean properties might sit vacant for 4-6 months yearly. During this time, protection against winter storms, humidity control, and security become priorities.

Dimitris Kalogeropoulos, owner of Ionian Property Services, notes: “Winter maintenance on the islands requires specialized attention. We’ve developed specific winterization protocols for our clients’ properties, including dehumidification systems, storm shutters, and regular inspections during the off-season.”

Mainland properties, particularly in Athens or Thessaloniki, benefit from year-round rental potential but face different challenges like higher tenant turnover and more complex regulatory compliance for long-term rentals.

How to Choose the Right Property Management Company

Selecting the ideal property management partner requires thorough research and careful consideration. Here’s how to approach this critical decision:

Essential Qualifications and Red Flags

When evaluating potential management companies, prioritize these qualifications:

• Legal compliance – Verify they have proper business licenses and insurance
• Experience with international owners – Look for companies accustomed to working with expats
• Multilingual staff – Communication in your language prevents misunderstandings
• Digital systems – Modern property management software enables transparency
• Established contractor networks – This ensures efficient maintenance response
• Clear contract terms – Avoid vague agreements that lead to disputes

Be wary of these red flags:

• Unusually low management fees (often indicates hidden charges or substandard service)
• Reluctance to provide client references
• Lack of formal contracts or overly complicated terms
• Poor or slow communication during your initial inquiries
• Inability to explain local regulations affecting your property

The Interview Process

Before signing any agreement, conduct thorough interviews with potential management companies. Ask pointed questions like:

1. “How do you handle emergency maintenance situations outside normal business hours?”
2. “What specific marketing strategies will you use for my property?”
3. “How do you select and vet cleaning and maintenance contractors?”
4. “What reporting will I receive, and how frequently?”
5. “What is your experience with properties similar to mine?”
6. “How do you handle guest/tenant complaints?”

Pro Tip: Ask each company to walk you through a recent management challenge they faced and how they resolved it. Their answer will reveal much about their problem-solving approach and transparency.

Understanding Management Costs and Fees

Property management isn’t just a service—it’s an investment that should deliver returns through better property performance, protection of your asset’s value, and peace of mind. Let’s break down the typical cost structure:

Fee Structures and Hidden Costs

Management fees in Greece typically follow these models:

• Percentage of rental income: Ranging from 8-25% depending on location and service level
• Fixed monthly fee: Common for non-rental properties, typically €100-300 monthly
• Hybrid models: Combining lower percentage fees with base minimums

Beyond these base fees, watch for potential additional charges:

• Setup/onboarding fees (€200-500)
• Marketing fees (photography, listing creation)
• Inspection fees
• Maintenance markup (some companies add 10-20% to contractor invoices)
• Key holding fees
• Administrative fees for tax documentation

Many expat owners make the mistake of focusing solely on the percentage rate without considering the total value proposition. A company charging 20% that delivers 40% higher occupancy and premium pricing will likely outperform a 15% provider with average results.

Legal Considerations for Foreign Property Owners

Navigating Greek property law presents significant challenges for foreign owners, particularly regarding taxation, rental regulations, and compliance requirements.

Tax Representation and Compliance

As an expat property owner in Greece, you’ll need:

• Greek Tax Number (AFM) – Required for all property transactions and tax filings
• Tax Representative – Non-EU residents must appoint a Greek tax representative
• ENFIA Property Tax Compliance – Annual tax based on property value and location
• Rental Income Declaration – Must be reported on annual Greek tax returns
• Short-Term Rental Registration – Properties listed on platforms like Airbnb require specific registration

Many management companies offer tax representation services, helping you navigate the complex Greek tax system. This typically includes preparation of tax documents, submission of declarations, and liaison with tax authorities.

Andreas Markopoulos, a tax attorney specializing in foreign property ownership, advises: “The penalties for non-compliance with Greek tax obligations are severe and can include fines of up to 100% of the tax owed. Professional guidance is essential, especially given that tax regulations for short-term rentals have changed significantly in recent years.”

Rental License Requirements

If you’re planning to rent your property, you’ll need to navigate specific licensing requirements:

• Short-term rental registration (AMA number) for properties listed on platforms like Airbnb or Booking.com
• EOT license for properties operated as tourist accommodations
• Fire safety certificates and inspections
• Insurance requirements for rental properties

Quality management companies handle these compliance issues, ensuring your property meets all legal requirements for rental operation.

Case Studies: Success Stories and Lessons Learned

Real-world examples illustrate both the potential benefits and pitfalls of property management in Greece:

Case Study 1: From Vacancy to Thriving Rental

The Challenge: Michael and Sarah, a British couple, purchased a three-bedroom villa on Crete in 2018. After initially managing it themselves, they struggled with inconsistent bookings (achieving only 34% occupancy), maintenance issues, and stress from trying to coordinate everything remotely.

The Solution: In 2021, they engaged Cretan Paradise Properties, a management company specializing in luxury rentals. The company:

• Implemented professional photography and immersive virtual tours
• Developed a multi-platform marketing strategy
• Introduced dynamic pricing based on seasonal demand
• Upgraded furnishings and amenities based on guest feedback
• Established a preventative maintenance schedule

The Results: By 2023, their property achieved 78% occupancy during the April-October season, with a 43% increase in average nightly rate. Even after management fees, their net income increased by €12,400 annually, and their property maintained better condition with significantly less personal stress.

Case Study 2: When Management Goes Wrong

The Challenge: Robert, an American expat, purchased an apartment in Athens in 2020 and hired the first management company he found. Within a year, he faced multiple issues:

• Discovered undisclosed 15% markups on all maintenance work
• Poor tenant screening resulted in property damage
• Inconsistent financial reporting made tax preparation difficult
• Slow response to maintenance emergencies

The Solution: After terminating the contract, Robert conducted thorough research, interviewed multiple companies, and checked references before selecting a new management partner with transparent policies and professional systems.

The Lesson: “I rushed into the first arrangement without proper due diligence,” Robert explains. “I’ve learned that checking references, understanding every fee in the contract, and establishing clear communication protocols from the beginning are absolutely essential.”

Technology and Modern Property Management

The most effective property management companies leverage technology to enhance service quality, transparency, and efficiency:

Digital Tools for Remote Ownership

Leading management companies now offer sophisticated owner portals and apps that provide:

• Real-time booking calendars showing upcoming guest reservations
• Financial dashboards tracking income and expenses
• Maintenance tracking with photos and status updates
• Document storage for contracts, licenses, and tax forms
• Communication logs recording all property-related discussions

These digital tools transform the ownership experience, providing unprecedented visibility into property operations regardless of where you’re located.

Kostas Alexiou of Digital Property Management Athens notes: “Our clients particularly value our smart home integration, which allows remote monitoring of environmental conditions like temperature and humidity, along with security features that alert owners to any unexpected entry.”

Smart Home Integration

Advanced management companies are increasingly incorporating smart home technology into their service offerings:

• Smart locks enabling secure, code-based access for guests and maintenance personnel
• Climate control systems that prevent damage from extreme temperatures
• Water leak detectors that provide early warning of potential damage
• Security cameras (exterior only) for monitoring property condition
• Energy management systems that reduce utility costs

When evaluating management companies, inquire about their technology adoption and how it benefits owners through improved service and reduced costs.

Your Greek Property Journey: From Selection to Management

Successful property ownership in Greece doesn’t happen by accident—it results from careful planning and strategic decision-making. Here’s your actionable roadmap:

1. Conduct thorough management research before purchase
   • Research management options and costs before finalizing property selection
   • Consider management availability when choosing location (remote areas offer fewer options)
   • Factor management costs into your investment calculations
2. Develop clear ownership objectives
   • Define whether your priority is income generation, personal use, or value appreciation
   • Establish your involvement preferences (hands-off vs. collaborative management)
   • Set realistic financial expectations based on market research
3. Build your professional support network
   • Interview multiple management companies before making commitments
   • Establish relationships with tax professionals familiar with expat property issues
   • Consider legal consultation for contract review and compliance guidance
4. Implement systems for oversight and evaluation
   • Create metrics to evaluate management performance
   • Schedule regular property visits when possible
   • Establish communication protocols with your management team
5. Plan for continuous improvement
   • Schedule annual review meetings with your management company
   • Budget for strategic property improvements based on guest/tenant feedback
   • Stay informed about market trends and regulatory changes

Remember, property ownership in Greece isn’t just a financial decision—it’s a lifestyle choice that can bring immense joy when managed effectively. The right management partnership transforms distant ownership from a potential burden into an enriching experience that connects you to one of the world’s most beautiful countries.

As you navigate this journey, how will you balance preserving the authentic character of your Greek property while ensuring it meets modern expectations for comfort and efficiency? The answer will be unique to your situation, but professional guidance makes all the difference.

Frequently Asked Questions

What are typical property management fees in Greece, and what do they include?

Property management fees in Greece typically range from 8% to 25% of rental income for vacation properties, depending on location and service level. For non-rental properties, fixed monthly fees ranging from €100-300 are common. Basic services include regular inspections, maintenance coordination, utility management, and guest handling for rentals. Premium services may include marketing, revenue optimization, interior design consultation, and comprehensive financial reporting. Always request a detailed breakdown of included services and potential additional fees before signing a management contract.

How can I verify the reliability and effectiveness of a Greek property management company?

Start by requesting references from current clients, particularly other foreign owners with similar properties. Check online reviews across multiple platforms, not just testimonials on the company’s website. Ask for performance data on properties similar to yours, including occupancy rates, revenue figures, and maintenance costs. Request a sample of their reporting documents to assess transparency. Visit their office in person if possible, and evaluate their responsiveness during the inquiry process. Finally, verify their business registration and insurance coverage to ensure they’re operating legally in Greece.

What are the tax implications for foreign owners of Greek property, and how can management companies help?

Foreign property owners in Greece face several tax obligations, including annual property tax (ENFIA), income tax on rental earnings (15-45% depending on amount), and value-added tax in certain commercial situations. Non-EU residents must appoint a Greek tax representative. Quality management companies can provide or arrange tax representation services, maintain compliant financial records, prepare documentation for Greek tax filings, register short-term rentals with tax authorities, issue legal receipts to guests, and submit required rental income data to the government. This service is particularly valuable as penalties for non-compliance can be severe, including fines up to 100% of taxes owed.

Article reviewed by Michelle Hope, Real Estate and Investment Expert, on May 5, 2025