Rent increase versus tenant retention for an Athens townhouse

[BoStone]

I have checked advertised rents for comparable Athens townhouses, but it is still unclear whether the apparent €6,472 level reflects achievable rent rather than optimistic listings. The property is valued at about €1,132,000, while the current tenant pays roughly €5,354 on time and looks after it well.

I do not want to ignore the gap, but replacing a reliable tenant could bring vacancy, preparation costs and greater payment risk. Would a phased increase be the better compromise? Before deciding, I also plan to confirm what the agreement and Greek notice rules permit, along with the correct treatment of the deposit.

 

[SmallChart]

I wouldn’t treat €6,472 asking rent as proof that a replacement tenant will actually pay it. First confirm what the current agreement and local rules allow, including timing and notice, with someone familiar with Greek tenancies.

Then compare the extra annual rent with a realistic changeover cost: possible vacancy, preparation work and the risk of a less reliable tenant. Is the tenancy nearing renewal, and are those comparables genuinely similar townhouses? If so, I’d discuss a phased or modest increase first rather than jump straight to the advertised figure.