The short answer
For a long-term rental, property management in Thessaloniki should connect the condition of the apartment, the tenancy, the money and the paperwork. Living nearby may make visits easier; living abroad makes local coordination more important. In either case, a useful service gives the owner a clear record of what happened and what requires a decision.
Updated 9 November 2026
The following is a framework for evaluating that service. Individual tasks, charges and authority should be agreed in writing.
1. Start with an apartment that is ready to hand over
Before advertising, establish what is working and what needs attention: plumbing, hot water, heating, cooling, electrical fittings, locks and any supplied appliances. Record defects, arrange appropriate technical checks and retain warranties and instructions. A renovated appearance alone does not establish that everything functions.
Check the apartment’s Energy Performance Certificate, known in Greece as a PEA, where required. The energy class from a valid certificate must appear in rental advertising where the requirement applies. This is a preparation task, rather than paperwork to postpone until a tenant is found. Greek Ministry of Environment and Energy.
At handover, prepare a dated condition record with photographs, an inventory, meter readings and the keys supplied. Record outstanding work and who will arrange it. Give the tenant practical instructions and a contact for faults.
The apartment manager should also know the building administrator, the common building charges and any planned shared works. Managing an individual apartment and administering the whole building are separate responsibilities; the agreement should explain who coordinates between them.
2. Find a suitable tenant and document the decision
An accurate listing should explain the apartment’s condition, heating, furniture, access and known recurring charges. Agree the asking rent and who may approve changes. Review enquiries and viewing feedback if interest is weak, before assuming a rent reduction will solve the problem.
Assess applicants consistently against relevant criteria: their ability to meet the rent, the intended use and occupancy, and compatibility with lawful tenancy terms. A student and an employed applicant may provide different evidence of financial support. Nationality or other protected characteristics should not be used as a shortcut for reliability. Document any agreed guarantor arrangement properly.
Collect only the personal information needed, explain its purpose, restrict access and set an appropriate retention period. These are practical applications of GDPR principles, including data minimisation and secure handling. European Commission.
Agree who recommends a tenant and who makes the final decision. Finding an applicant does not itself guarantee payment or include ongoing management.
3. Handle the lease and tax declarations
The lease should address rent, payment arrangements, deposit, permitted use, maintenance responsibilities, access by agreement, duration and termination. Have the legal terms reviewed for the particular tenancy. For residential tenancies covered by Greece’s statutory minimum, a shorter written term does not displace the three-year minimum. Greek Supreme Court, judgment 650/2007.
AADE, Greece’s tax authority, also requires rental information reporting. Its electronic declaration serves tax purposes; retain the lease separately. AADE rental declaration FAQ, question 1.
Build these steps into the management workflow:
- Submit: the declaration is due by the end of the month following the tenancy’s commencement or modification. Retain proof of submission. AADE reporting service.
- Monitor: tenants and the other co-owners have 30 days from the sending of the notification to accept or reject the declaration. Without action, it is deemed accepted. Track the outcome and address discrepancies. AADE decision A.1068/2025.
- Prepare annual records: individual landlords’ Greek rental-income reporting includes E2 and E1. Agree what the accountant needs and when. AADE long-term letting guidance.
Name the person handling each step and the authorisation required. A manager’s operational role does not automatically include tax filing or legal representation. The accountant should determine the owner’s obligations from tax residence and ownership structure, including any reporting elsewhere.
4. Make rent collection and repairs traceable
Agree a payment date, a traceable payment method and a process for matching receipts to the correct rental period. A missed payment should produce a recorded follow-up, an owner update and, where necessary, referral for legal advice. Do not budget on immediate eviction or certain recovery.
For repairs, define routine spending authority, work requiring approval and the emergency procedure. Specify how the owner is contacted, who acts if they cannot be reached and how the decision is recorded.
For example, an active leak may require immediate action to limit damage, followed by a separate decision on permanent repairs. A request to replace a functioning appliance calls for a different assessment. The agreement should distinguish these situations without granting unlimited spending authority.
Each job should have a description, diagnosis, quotation where appropriate, approval, invoice and completion record. Check whether a warranty or insurance policy may respond before treating every cost as an owner expense. Allocate costs under the lease, building rules and applicable law, rather than automatically charging the tenant. Plan preventive maintenance and agree access; vacant periods may still involve bills and upkeep.
5. Ask for an owner statement you can reconcile
A monthly statement can be a useful arrangement, with urgent issues reported when they arise. Agree the actual frequency and transfer schedule. The table below explains recommended contents; it is not a Wiser statement or a representation of its reporting terms.
| Item | What the owner should be able to establish |
|---|---|
| Property and reporting period | Which apartment and dates the statement covers; occupied and vacant periods |
| Rent due and collected | Contractual rent, dated receipts and the period each receipt settles |
| Arrears | Previous and new unpaid amounts, payments against them and follow-up status |
| Expenses | Supplier, purpose, invoice, approval and whether the amount is paid or outstanding |
| Management charges | Fee basis, applicable VAT and separately agreed charges |
| Operating cash | Opening balance, rent received, owner top-ups, paid expenses, transfers and closing balance |
| Tenant deposit | Amount held, holder, movements and any documented settlement, shown separately |
| Open actions | Unfinished repairs, deadlines, responsible person and decisions needed |
Where the manager holds operating funds, the cash reconciliation is: opening balance plus receipts and owner top-ups, less paid expenses and transfers to the owner, equals closing balance. Show any maintenance reserve within that balance, not as an additional expense. Record costs paid directly by the owner separately so they are visible without deducting them twice.
An unpaid invoice is a commitment, not a completed cash payment. A tenant deposit should not inflate rental income, and the owner’s bank transfer is not a measure of taxable income. Retain supporting documents alongside the statement.
6. Read the management agreement as a division of work
Compare the total scope and charging rules. A fee percentage alone says little unless its calculation base is clear: rent due, rent collected or another agreed amount. Establish VAT treatment and any charges for vacancy, finding a tenant, renewal, inspections, contractor coordination and ending the service. Ask whether contractor invoices carry an additional fee or commission.
Write down the responsibilities of the owner, manager, accountant and lawyer. The owner might retain approval of tenants, rent changes and major works, while the manager handles agreed communications and supplier coordination. Tax and legal work need their own defined scope.
Self-management can suit a local owner with time, language skills and reliable suppliers. Delegating more can reduce the owner’s workload, but adds cost and requires oversight. A narrower service may also work, provided the remaining tasks have an identified person responsible for them.
7. Plan for remote decisions, tenant changes and the end of management
Agree a working language, a primary contact and a backup. Keep leases, statements, approvals and repair records in an accessible, securely shared file. Set appropriate authorisations instead of circulating personal account passwords. Being abroad should not mean losing access to the property’s records.
At the end of a tenancy, compare the apartment with the entry record, document meter readings and keys, and settle bills and the deposit under the contract and applicable law. Separate ordinary wear and tear from claimed damage. AADE’s published guidance requires the termination declaration by the end of the following month. AADE rental declaration FAQ, question 2.
If management ends, the agreement should provide for notice, a final reconciliation and transfer of keys, documents, funds and open matters. Changing manager should not leave a repair or reporting deadline without anyone responsible for it.
Good management gives you a clear account of who does what throughout the tenancy. For more on the ownership process, read the Wiser guide to owning and managing a property, then discuss the scope and terms relevant to a specific apartment with the team.
Frequently asked questions
How do I compare management quotes with the same percentage fee?
Compare what the fee is calculated on and which tasks it covers. A charge on rent due can differ from one on rent actually collected; also check VAT, vacancy charges and separate fees for finding tenants, renewals or coordinating repairs. Ask each provider to identify who handles tasks outside the quoted service, then compare the overall cost and the work you would still need to arrange.
How can I check that the payment to my account matches the management statement?
Trace the opening balance, money received, expenses paid and funds still held by the manager after the transfer. Match movements to supporting records and the reporting period, including costs you paid directly so they are not deducted again. Check that any maintenance reserve remains within the balance, the deposit is shown separately and unpaid invoices are identified as outstanding. If there is a difference, ask for the transactions and dates that explain it.
What should I agree in advance if an urgent repair is needed while I am unavailable?
Specify who may act when you cannot be reached, in which circumstances and with what spending authority. Distinguish urgent action to limit damage, such as stopping an active leak, from a permanent repair or replacement that can be submitted for approval. Name a backup contact and require a record of the fault, action, cost and invoice. The spending limit and notification procedure should be agreed for your arrangement; there is no single recommended amount for every apartment.
What evidence should I request to check that the tenancy has been reported to AADE?
Request the rental declaration’s proof of submission and an update on its acceptance status in myAADE. Compare the property details, rental period and rent with the lease, and ask for an explanation if the declaration has been rejected or the process remains open. Agree who submits it, monitors notifications and handles any necessary corrections. Confirm that these tasks are included in the service agreement and that the person handling them has appropriate authorisation.
What should be handed over to a new manager while the apartment is occupied?
Request a handover file containing the active lease, the tenant’s entry record, reporting confirmations, keys and a list of open repairs and other matters. Include a reconciliation identifying funds, debts, who holds the deposit and any transfers still required. Agree a clear date for responsibility to pass, and tell the tenant whom to contact and any verified changes to payment details. Each outstanding repair or reporting deadline should have a named person responsible during the transition.
