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Demorilo Management Putting UK Property Owners at Risk in Cyprus

Demorilo Management Putting UK Property Owners at Risk in Cyprus

Demorilo Owner, Maria Lazaridou, remained silent when faced with allegations of fraud.

Last Updated:
Tue, 19 December 2017

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UK property owners are being warned about a rogue Property Management agent, Maria Lazaridou, whose Larnaca-based company gives access to villas and apartments without the owners knowledge and which has even allowed casual 'tenants' to walk away with the contents.

An investigation revealed that Demorilo office manager, Costas Vorias, let out a property owned by an English family without their permission, and that when the 'tenants' left they stole contents of the apartment and left the property uninhabitable.

When asked to comment, Mr Vorias claimed he had informed the owners that he had tenants available to rent the property. However documents reveal that this was only after Demorilo had been exposed when the owners faced huge utility bills which alerted them to the fact the property was being used. No contracts were agreed before the occupation.

When asked why no references were presented to the owners, (a commitment made by Demorilo in its contracts with property owners), Mr Vorias said bluntly, "If we had to get references every time we let a property we'd never find anyone to rent them". He went on to confirm that he knew the whereabouts of the thieves and said he would make a report to the Police, but he has avoided doing so.

Mr Vorias claimed he had NOT informed the Cyprus Police of the theft of the contents at the time, because he "hadn't noticed anything missing", despite Demorilo's claim to undertake an inventory of contents before a property is let and again after tenants leave.

The property owners are pursuing Demorilo through the courts due to the company's contractual negligence and for fraudulently using their Cyprus property without giving their permission.

The Company Secretary, Maria Lazaridou who claims to have 30 years experience in the property industry, refused to comment on the family's claims and was unable to provide evidence of the company's registration with the Cyprus Real Estate Agents Association, or of their obligation to carry insurance.

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