Rental Price and “Deposit” Expectations

For the renter looking for a property here in Tripoli, there are a couple of items to consider. The first is the monthly rental price. The second is the amount of up front rent that you pay at the time of signing the contract. Let’s first talk about rental prices. As in any rental market, the price is highly dependent on the area of Tripoli you want to live in. Most of the expats choose to live in the Gergaresh, Hay Andalous, Siyahiya, Serraj, Ben Ashour, Nofleen or Dahamani areas. These areas are closer to the center of Tripoli, contain the most shops and cafes and are generally seen to be the safer areas to be in.

What is a realistic price?

While it is possible to find apartment rentals for under 1,000LYD, they are usually rented within a couple days of being on the market. In these areas (and in most areas to be honest), rental prices start at 1,200-1,500 LYD. For villas you are looking at more prices in the range of 4-4,500 LYD for the central areas and 2,500 to 3,000 LYD starting for the more outer areas in Serraj and even Janzour. While these seem like high prices, I’m told over and over again that the rental prices used to be even higher before the revolution.

Understanding the deposit

When it comes to choosing a rental property, you will also need to know how much the owner is expecting in up front rent. The vast majority of landlords are asking for all of the rent at the time of signing the rental contracts! This means that for a year contract, he will want 12 months of rent at the time of the contract. Sometimes they will only ask for 6 months and on occasion can even be negotiated down to 4 months, but it is safe to assume they will probably want the rent all up front at the beginning. Please note that the owners are not asking for a “DEPOSIT” as it is not money that is refunded to you when you move out. Rather it is your actual rent, paying for the time that you are actually living in the property.

Knowing a little bit about how the rental market is in terms of rental prices and landlord expectations will hopefully alleviate some of the frustrations that come with making a move. I know that for us personally, the idea of paying so much rent up front came as a shock. However, it is also nice to know that once it is paid, you are done for the term of your contract and don’t have to think about making yet another payment each and every month! As for the rental prices too, it is sometimes worth being in these more desirable areas not only for the security they offer, but also for the convenience of being close to shopping and work, thereby meaning you’ll spend less time commuting!