If you are looking to rent a property in Libya, you need to understand the rental process. Libya’s rental process is similar to most other North African countries. Our goal is to help prepare your expectations for renting a property in Tripoli, Libya.
Where do you start?
First thing first you will need to do is list down your requirements:
- Type of place (office OR home)
- Rental budget (amount you are willing to pay each month)
- Area of the city
- Duration you want to rent for (short term or long term)
- Facilities you are looking for (view, elevator, security, parking etc…)
There are number of ways to find a property in Libya. You could find great options through a local friend, Real Estate agent or any other third party. In all situations DO NOT FORGET or hesitate to create and sign a rental contract.
The process
Once you have decided on your property requirements, you can communicate it to the real estate agent/s. They’ll note your requirements and tell you that they’ll give you a call as soon as they find one. Make sure that they clearly understand your requirements. You don’t want to waste your time with properties that don’t match your criteria.
It is wise at this point to ask how much they charge for their services. It could differ from an agent to agent. Real estate agents in Libya usually charge one month’s rent for longer contracts and half a month’s for shorter contracts. If they forget to tell you their prices, feel free to ask just so everything is clear.
Once they have found some properties, they’ll contact you and arrange a visit to the properties. It is usual to visit in the afternoon and evenings when the landlords are home from work.
During the visit, you’ll meet the owner and have a thorough look at the place. Feel free to ask any questions for clarification. During any point in the visit, you could ask the asking price and conditions of the contract. If you are interested, you can start the negotiation process for the rent price.
If you settle to rent that place, then you’ll head to the local contract signing office (Muharar Oqoud) to sign the contract between you and owner. You’ll receive the keys and can move in.
What do you need?
In order to finalize the contract and finish the deal, you’ll need the following items.
- You’ll need to give a copy of your passport as your identity proof and to fill in the contract details.
- If you do not read or understand Arabic clearly, you’ll need someone to translate and help understand all the clauses before you sign the contract. (contracts are in Arabic only)
- The agreed amount of fee for real estate agent.
- The agreed amount of deposit for the landlord. Deposit is an amount of money that the landlord agrees with you to pay in advance. (it could be 3, 6 or 12 months of rent).
If you have any other further questions about the rental process in Libya, please contact us. We are here to help.