RENTED PROPERTY

Landlords to get cases settled

Property owners who suffered a rental revenue cut can secure their compensation smoothly

landlords-to-get-cases-settled

Property owners who have not yet been compensated by the state for their losses from reduced rents in March-December 2020 will be able to find out what their next steps ought to be to get their dues via a special platform that Finance Minister Christos Staikouras announced on Friday.

He told state television ERT1 that, as of Friday, “the notices for landlords have been uploaded so as to cover any cases not yet covered since last March, allowing for corrections. Today [i.e. on Friday] we aspire to compensate the property owners for January, as far as individuals are concerned, followed on Monday or Tuesday by companies. There is a chance, since there are many platforms running at the same time, that the payments will be made on Monday, but we are very close to the payments for January anyway.”

Based on the planning of the Independent Authority for Public Revenue (IAPR), after the launch of the new application, landlords who have incurred rental revenue losses because of the pandemic will be informed whether they are due any cash and whether they have had their compensation offset with their tax obligations for the period from March to October – as the dues from November onward will be paid in cash into landlords’ bank accounts.

What property owners who have not been compensated yet need to do is to enter the platform, when the process begins, using their Taxisnet username and password, and follow the directions given.

Landlords have until April 19 to submit any amendments regarding errors and omissions in their Covid rental declarations for the March-December 2020 period.

It is also noted that March 29 is the deadline for the declaration of Covid rent reductions by enterprises utilizing outlets, shopping centers or discount villages for January. By April 12, the landlords of properties that suffered a 40% drop in rental takings in November and/or December will be able to submit not only amended but also original Covid declarations.