Updated: Mar 25, 2022
Make your real estate in Turkey work for you! The rental business is very popular all over the world. You just have to choose whether to run it as a short-term holiday home or let it for the long term.
The short-term rentals bring higher income but it's fully depends on luck and it is seasonal.
The long-term incomes are substantially lower but steady.
The tenant and the landlord conclude a lease agreement and then notarize it in presence of the sworn translator. The responsibility for paying the utility bills is entirely on the tenant.
To insures yourself against non-payment and/or damages be sure to have a detailed contract. Also, you need to have a person who will make sure that this contract is fulfilled. Especially if you’re living abroad. You need the safe person to hold the deposit and make the termination of the rental agreement smooth and fair.
Important update! To let your home in Turkey you have to make a notary-approved rental contract. Only then your renters will be able to apply for a staying permit and get the subscriptions (water and electricity) to their name.
The process of short-term rentals is quite complicated to do it yourself. You need to have a residence permit, be a legal entity or entrepreneur in Turkey and obtain a special license. So the best option is to do it through a licensed agency.
The agency will market your property, manage check-ins/check-outs of tenants, do the legal registration to police system, will pay tax/VAT, utility bills, monthly maintenance fee, replace a gas cylinder etc.
Whatever you'll chose you have to have a proper agent in Turkey. If you'd like to run your home as a business please contact us and we will consult you and help you make up your mind and do the right steps.