The topic of renting apartments in Turkey is gaining more attention. Many people want to buy property in the country to rent it out, but they don’t know how to do it without living there permanently. In this article, we will look at various ways to rent apartments, as well as share tips on how to choose a reliable management company for this.
In Turkey, there are several types of rental agreements: short-term, long-term, and guaranteed. Short-term rentals involve renting a property for up to 2 months, while long-term rentals are for at least 1 year. Guaranteed rentals involve renting through a real estate agency that takes on all responsibilities for finding tenants, check-in and check-out, as well as property safety. This type of rental is in high demand among foreign investors.
Short-term rentals in Turkey are currently only available to legal entities with an official license for this activity. Individuals are not allowed to engage in short-term rentals according to the regulations introduced by the Turkish government in 2017. This decision was made to improve law and order in the country and increase the earnings of the hotel industry.
For short-term rentals, the property must have a minimum of 30 sleeping places and provide necessary safety elements such as emergency exits, security alarms, and fire escape routes. Business owners who rent out their properties must register with the police, where all occupants, including children of any age, will be registered. Violations may result in fines of 5,000 to 10,000 Turkish lira, and repeated violations can lead to the suspension of the right to engage in this activity or even deportation. A third violation may result in criminal charges.
For long-term rentals of apartments in Turkey, a rental agreement must be signed with the tenant and notarized. All tenants must also be registered with the Directorate of Civil Registration and Citizenship at the Turkish Ministry of Internal Affairs. If the tenant plans to stay for more than 6 months, they must obtain a tax identification number from the tax office and apply for a residence permit. The Turkish Republic imposes a tax on rental income, the rate of which depends on the level of income:
- Up to 13,000 TL – 15% tax on the amount earned;
- 13,000 – 30,000 TL – 20%;
- 30,000 – 70,000 TL – 27%;
- More than 70,000 TL – 35%.
The easiest and most reliable way for foreign owners to rent out their property in Turkey is to collaborate with a real estate agency like the internationally licensed UINVEST GROUP. We offer a wide range of services for finding and buying apartments and villas in Turkey for subsequent rental. By purchasing property through us, you can be confident in making the best choice with guaranteed high profitability. Our agency will take care of all the obligations of renting out your property on the most favorable terms.
In conclusion, renting an apartment in Turkey is possible through various methods, such as short-term and long-term rentals. However, to meet the requirements and simplify the process, property owners are recommended to seek assistance from professional real estate agencies. This will ensure the safety and reliability of renting out your property in Turkey.
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