Airbnb: New Measures Add €600 in Extra Costs for Property Owners

Greece’s Tourism Ministry is initiating a new draft bill that brings extra charges and stricter requirements for short term rental properties, such as those listed on the Airbnb accommodation platform. The additional cost is estimated to range from 500 to 600 euros.

Properties rented out for short-term leases are obliged meet specific requirements to ensure safe occupation. The properties must primarily be residential spaces with natural lighting, ventilation and air conditioning.

The properties must be insured against damages and accidents and equipped with fire extinguishers, smoke detectors, circuit breakers or anti-electric shock relays and escape route signage. Furthermore, a certificate of rodent and pest control is mandatory, as well as first aid kit, and a guide with emergency contact numbers.

Property owners, on their part, express their discontent due to the additional economic burden that will be imposed upon them. Market representatives highlight that compliance costs for property owners represent an additional expense that affects those operating Airbnb rentals.

For example, it is noted that liability insurance for damages costs around 200 euros, the purchase of a fire extinguisher is 100 euros, disinfection services costs another 100 euros depending on the property’s square footage, and smoke detectors cost an additional 100 euros.

At the same time, there has been significant backlash regarding the hefty fines imposed for non-compliance. Property managers face an immediate administrative fine of 5,000 euros if access to the inspected property is denied or any of the specified requirements are not met.

Within fifteen calendar days from the date of the violation being identified, the short-term rental property manager must comply with the requirements.

If a follow-up inspection occurs within one year of the notice of the fine and finds further non-compliance, the fine is doubled to 10,000 euros. For each subsequent identical violation, the fine is quadrupled relative to the original penalty.