A Mykonos villa booking is a five-figure to seven-figure transaction. Every other guide online handles it like a hotel reservation. It is not a hotel reservation. This page is the only honest, signed, operator-side breakdown of what the contract says, what you pay, when you pay, and what can go wrong. Written by George K., on island.
The five things nobody tells you before you wire the deposit
- The deposit is non-refundable from the moment you sign.
- The security deposit (€1,000–€20,000) is separate from the rental price and held against "improper use."
- Pool heating is rarely included in the headline rate. Expect €40–€80/day extra.
- The "resilience fee" (Greek stay tax, ~€15/night) is paid in cash on arrival.
- A Registration Form is signed on check-in by every guest, listing passport details that the operator submits to the local authority.
The contract you'll be sent, clause by clause
A real Mykonos villa contract is 4–8 pages, English with Greek-law jurisdiction. The clauses you should expect:
- Parties. Names the operator entity (e.g. "THE ACE VIP" with the Greek registration number, MHTE number, and registered office address) and the lead guest.
- Property and dates. Names the villa, the address, the arrival and departure dates, and the maximum guest count. Excess guests breach the contract.
- Total rent. Headline rate in EUR, broken into deposit and balance.
- Deposit and balance schedule. 30%–50% on signature; balance 45–90 days before arrival. Specific bank IBAN named.
- Security deposit. €1,000–€20,000 paid 14 days before arrival or on arrival; refunded 7–14 days after departure subject to inventory check.
- Cancellation curve. In plain English. The most common: 50% non-refundable on signature, 100% non-refundable inside 60 days. Some properties use 30%/45-day curves.
- What is included. Daily housekeeping (typically 4 hours/day), pool maintenance, gardens, basic Wi-Fi, welcome amenity.
- What is extra. Pool heating, chef, drivers, yacht, security, event production, transfers, itemised with day rates.
- Quiet hours. Greek law: 14:30–18:00 and 23:30–08:00. Pool noise after 23:30 and music outdoors after 23:00 are legally prohibited; the operator can end the contract for repeated breach.
- Force majeure. Earthquakes, port strikes, government public-health closures. Modern contracts include language for pandemic / lockdown.
- Jurisdiction. Greek law; specified court of competent venue (typically Mykonos / Syros for the Cyclades).
The deposit: when, how much, refundable on what terms
Standard: 30%–50% non-refundable on signature. The variation tracks the operator and the property tier. Platinum-tier estates (Aegean Jewel, The Cape, THE ACE VIP's top 5) are 50% on signature. Mid-luxury (€2,000–€4,000/night) typically 30%.
Wire mechanics: Greek IBAN, denominated in EUR, named to the operator legal entity (not a private name). Retain the SWIFT/BIC confirmation. The operator acknowledges receipt within 48 hours; that acknowledgement is your contractual proof.
The balance: the 45–90 day window
Most contracts make the balance due 60 days before arrival. Top-tier properties run 90 days. The operator typically sends one balance reminder 14 days before the due date. Late payment means cancellation and forfeit of the deposit.
The security deposit: €1,000 to €20,000
Paid 14 days before arrival or on arrival, by wire or pre-authorised on a credit card. Sized by the property tier:
- Mid-luxury (4–6 BR, €1,500–€4,000/night): €1,000–€3,000
- Upper-luxury (6–8 BR, €4,000–€10,000/night): €3,000–€8,000
- Ultra-luxury (8+ BR, €10,000+/night): €8,000–€20,000
Returned in full within 7–14 days of departure unless damages are itemised in writing. Photograph the inventory walkthrough on arrival and again on departure. This single habit prevents 90% of post-stay deposit disputes.
The Registration Form: Greek law, not optional
Greek short-term rental law (Law 4276/2014 + AADE 1187/2017) requires every short-term rental operator to register the property with the central registry (Μητρώο Βραχυχρόνιας Διαμονής) and submit a Registration Form for each booking listing every guest by full name and passport number. You sign the form on check-in. The operator submits it to the local authority. This is not bureaucratic theatre: it is the paperwork that proves the operator is legitimate. If the operator does not ask you to sign one, leave the property.
The resilience fee / stay tax: cash on arrival
The Greek "Resilience to Climate Crisis" fee (Φόρος Διανυκτέρευσης) replaces the previous stay tax. As of 2026:
- Furnished rental rooms / apartments: €1.50–€10/night
- Villas (defined as plots over 80 m² with private pool): €15/night peak season, €4/night low season
Paid in cash, in EUR, to the on-site manager on arrival. The operator issues a receipt; that receipt is what the tax authority audits.
Cancellation: the real curve, week by week
| Days before arrival | Standard (30/45) | Top-tier (50/60) | Ultra-luxury (50/90) |
|---|---|---|---|
| 120+ | 30% | 50% | 50% |
| 90 | 30% | 50% | 100% |
| 60 | 30% | 100% | 100% |
| 45 | 100% | 100% | 100% |
| ≤30 | 100% | 100% | 100% |
Travel insurance is the only mechanism that recovers funds inside these windows. Buy it the same day you wire the deposit, not later.
What happens when something breaks
Honest expectations: a 6-bedroom villa has roughly 4,000 individual items. Something will break. The standard process:
- Report to the on-site manager within 24 hours.
- Operator photographs and assesses.
- If "improper use" (e.g. tableware shattered in pool), it's a deposit deduction. If "wear and tear" (e.g. faulty A/C unit on day three), it's the operator's problem.
- The deduction is itemised on the deposit-return statement.
- Disputed deductions resolved by mediation; failing that, Mykonos / Syros court.
What's included vs €/day extras
| Item | Typical inclusion | Typical extra cost |
|---|---|---|
| Daily housekeeping (4 hr/day) | Included | In the rate |
| Pool maintenance | Included | In the rate |
| Pool heating | Not included | €40–€80/day |
| Pre-arrival grocery stocking | Not included | €150–€500 + groceries |
| Welcome amenity (wine, fruit, water) | Included | In the rate |
| Chef: breakfast (residency, 3 hr/day) | Not included | €350–€600/day |
| Chef: full residency | Not included | €700–€1,200/day |
| Driver (10 hr/day) | Not included | €350–€600/day |
| Day yacht charter | Not included | €2,500–€8,000 |
| Security guard (overnight) | Not included | €250–€450/night |
| Airport transfer (Mercedes V-Class) | Not included | €80–€140 each way |
What the operator can and cannot fix
A great concierge can fix: late-night A/C breakdown, beach-club table at 24-hour notice, helicopter transfer in a port-strike, last-minute chef change, dietary emergency (kosher Friday at 18:00).
A great concierge cannot fix: weather (Meltemi at 35 knots, no boats), force majeure (port closure), Greek bureaucracy (a lost passport is a job for the consulate). Anyone promising they can is misleading you.
The five red flags of a scam booking
- No Greek MHTE registration number on the contract.
- Wire instructions to a non-Greek bank (e.g. Cyprus, Latvia, Dubai).
- Photos that don't match a public, geocodable address: try cross-checking on Google Earth.
- "Concierge" that's a single WhatsApp number with no named team.
- Contract written in poor English with no jurisdiction clause.
Our process: the layers we sit at
Most Mykonos villa "concierges" you find on Google sit at the third or fourth layer of the agency stack: owner → property manager → master agency → reseller → affiliate. For THE ACE VIP inventory we book as master agency, direct-to-property-manager, with eighteen seasons on island.
About the author
George K. operates from Mykonos year-round. Discover Cyclades is the publishing arm; THE ACE VIP is the villa operator we work with on island. This page is signed because it should be: most competitor sites publish operational guidance under no name and no address. We do.
Ready to enquire?
Talk to THE ACE VIP before you wire any deposit: they'll walk you through the contract, flag anything unusual, and route you to the right operator. Talk to THE ACE VIP →
