The End of Cash Rent from July 1st: What This Means for Property Owners & Building Managers in Cyprus

The New Cyprus Legislation: Everything You Need to Know

According to recent announcements, from July 1st, 2026, the way rent and utility payments are made in Cyprus is changing dramatically. Cash payments, commonly known as "rent in hand", are being eliminated. The Ministry of Finance aims to combat tax evasion, ensure transparency, and achieve full compliance from both property owners and tenants.

If you are evaluating property management software Cyprus, explore operations for Nicosia and book a building management demo for your portfolio.

Payments must now be made electronically, through bank transfers, credit card payments, or other electronic means such as e-wallets and direct debits.

What Does This Mean Practically for Building Committees?

This change directly affects the collection of building utility fees. Many managers previously collected fees door-to-door in cash. Not only does this create security risks, but it provides no proof in case of disputes with non-paying tenants.

Building managers must now embrace the digital era. Accepting bank transfers for rent opens the door to electronic utility bill collection as well.

The FlatMate Solution: Complete Compliance and Transparency

This is where FlatMate by BizMate comes in. Instead of searching through bank statements to find out which tenant paid what, FlatMate handles the connection and organization for you.

• Automated Receipts: When a payment is received, the system automatically generates a legal electronic receipt.
• Tax Authority Transparency: All income is clearly recorded.
• No More Cash: Encourages digital payments, complying with Cyprus regulations.