As Yannis Tsiolis answered, things are pretty clear, when there’s a contract (which is mandatory by the way) and when there are proofs of payment. Cash is ok but it must be handed against a receipt. The standard is rent payment by bank draft. In theory an eviction order is implemented after one month. But it can take very long to have the court hand its verdict…
Now reality check: It took me 6 months to get a court order to have a tenant removed. She didnt pay her rent for an entire year, because I had asked her to go or accept a rent hike, as the rent agreed on the contract with my late grandmother was ancient and extremely low. We also had to get a court order to have her stuff removed from the flat with the presence of a court officer. All at my expenses, of course. In the mean time I was paying income tax on the rent I was supposed to collect….Tell me about landlord protection.
The big issue is the revenue (tax) service. When a rental contact is signed, a copy must be handed to the tax authority which is then aware who pays what to whom and taxes accordingly. Because a high rent might look suspicious if some tenant doesn’t declare all his income or may generate up to 50% tax on that revenue for the landlord, or both, Greeks resort to “black” rent (100% cash and no contract) or even “grey” rent when a contract is signed mentioning a small rent only and the balance settled in cash. In both cases it is evidently impossible to refer to the court in case of breach of agreement between the 2 parties involved.
As an investment home rentals have usually a very low capital yield (about 2 to 3% yearly) in Greece and are taxed separately from your income. Even if you have no other source of income taxes are following:
15% from 1 up to 12.000 E yearly, 35% from 12.001 up to 35.000 E yearly, 45% from 35.001 E and upwards.
On top of that landlords have to pay 2,2% to 10% “solidarity tax” if the rent exceeds 12.000 E, ΕΝΦΙΑ the hefty property tax and an additional levy if the property exceeds 200.000 E in value. Rule of thumb is that yearly 4 rents go to the tax man.