According to Greek legislation the tenancy of immovable property, used for the exercise of commercial or professional activity, is characterized commercial lease.
A recent amendment of the law (L. 4242/2014) determines that these tenancies are governed by the terms of the contract, the provisions of the Civil Code and the Presidential Decree No 34/1995.
- The lease of a workplace has a minimum duration of 3 years and must be in writing.
- Even if it is agreed with a written agreement a shorter duration, the owner and the tenant are committed for at least three years. The contracting parties may dissolve the lease with an amended agreement, proved with a dated document, bearing the validation of the signatures by a public authority.
- After one year the tenant may leave the property as long as the owner has been notified at least three months earlier from date of leave, the tenant has paid regularly the rents up to the date of leave and has paid one extra rent as penalty.
- The amount of the rent shall be agreed between the parties. Moreover, it can be adjusted according the parties’ agreement. It is preferable that the adjustments on a high percentage to be avoided, since it would be difficult to comply with and consequently problems may arise at the tenancy.