Turk.Estate presents real estate in Turkey for sale from the most reliable developers in the country. Why did we decide to talk in detail about the lease and the nuances of signing the contract?
This information can be useful to apartment owner in some cases.
First, if you decide to travel around the regions before purchasing a property, you can rent housing in each city for a couple of months to compare its conditions. This information can save you time.
Second, according to the analysts of the Emlakkulisi property portal, many of the points mentioned below are relevant when renting and buying a home. The reason is that if you find problems with lighting, water supply, structural elements, house maintenance, etc., you can move out of the apartment with minimal loss of money. The process with purchased housing is much more expensive as you have to sell it and then buy again.
Third, if the owner decides to rent out the purchased housing, it will be useful for potential tenants to get acquainted with the list of key points below. Moreover, you can increase their trust in you as a decent and responsible owner by telling them what to pay attention to.
Fourth, if the tenant has experience of renting housing and asks uncomfortable questions about the features of the housing you own (for example, it gets hot in the bedrooms because of the roof), you will be ready for this and think over the answers in advance. Moreover, you can explain the price for this housing or offer discounts.
In any case, it makes sense to consider investing in housing and how it can generate rental income. The fact is that few foreigners buy small apartments in Turkey with loans and mortgages, and they prefer investing their spare money. In this situation, you could buy one apartment to live in and another to rent — you will kill two birds with one stone. This allows you to live in Turkey and get a residence permit and, eventually, citizenship. At the same time, you can quickly pay off your investments in both apartments by renting one of them. In addition, you can determine at any time whether everything is in order with your rental property keeping everything under control. A lease agreement can also help out in this situation.
Today, rental income is one of the few areas where monthly profits are steadily growing. After a year and a half of the pandemic, the Turkish market is facing an acute shortage of rental housing: both foreigners and locals — especially students and young people — are lining up even for the simplest property options. However, university students are one of the most convenient client groups as tenants, as this guarantees a long-term lease (for many years ahead), regardless of seasonal periods, weather or political situation. Turkey ranked first in 2022 among 56 countries in rising rental prices. Tenants started paying 160% more.
There are many factors to consider when renting a home, from the district/quarter and its location to its neighbours.
Content:
- 10 rules for renting housing in Turkey
- Lease agreement: what you should remember
- What you should check
- We will help you buy Real Estate in Turkey
10 rules for renting housing in Turkey
TOP-20 points to consider
- First of all, get detailed information about the general features of housing, for example, the number of square meters for each room. Keep in mind that according to the documents, the "square footage" of a flat in Turkey also includes common areas, such as the entrance, which are divided into all apartment owners in this house.
- The number of rooms and bathrooms.
- A balcony, terrace, and veranda.
- The type of heating and whether there it is in residences, as not all apartments and houses in Turkey have heating.
- The facade; which direction does the flat face.
- Where the windows are. Given the climate and the "requirements" of the pandemic, housing must be well-ventilated.
- It is a bad option if all the windows face the sun, as the apartment can be hot in summer like in an oven. (To owners: if you bought a property before reading this article, take care of how to sort out this "steam room effect" problem. Additional ventilation? Economical air conditioners in every room?).
- Floor. There are two key nuances here: "girish kat" (ground floor) — the apartments on the ground floors are cooler, but they may be damper. In addition, they can attract ants and other insects, and cats. The upper floors are more heated from the roof if the housing is not protected from heating by the attic.
- Railings on balconies, whether all windows are fully open, and whether doors and locks are strong. Where and whom to contact if the tenant loses the key, and how to check the tenant's right to receive these keys.
- What is available: an entrance or sita (residential complex) security system? What type exactly? Are there any surveillance cameras and security guards? How do they work, and where and who to contact in an emergency?
- If you rent out a detached house, its security (fences and video surveillance) must be ensured by the owner.
- Be sure to specify the "age" of the house, its features, and earthquake resistance. Moreover, "passports" have been issued for buildings in Turkey, which make it easy to get all the necessary information by a QR-code on the wall.
- Pay attention to whether the house has an earthquake resistance report and where it is. What is the condition of the fire escape, and whether the exits to it are blocked.
- Check if there is moisture or mold in the house. (For more accurate information, the ideal option would be to talk to neighbours living on the same floor).
- Ask for detailed information about the monthly rent (the maintenance fee for the apartment, which is paid regardless of whether someone lives in it or not), the amount of utility bills, and other expenses.
- Specify the details of using the sita infrastructure. Is there a spa, gym, and fitness centre here? What are the opening hours? Is the pool heated? Can your guests use all of this, or only the owner or tenant and their family members?
- Carefully check the water supply system and water pressure; sewerage system. Is there any water drips, rust, etc. somewhere?
- Estimate the distance from the house to the nearest public transport stops. Specify the infrastructure of the area: schools, parks, hospitals, shopping malls. (If you rent out your apartment and print out all the documents or send them by email to potential tenants, for example, where to go in case of illness, where the largest supermarket is, where the most delicious bakeries and the most inexpensive dining room with good food are. This will help you gain the trust and appreciation of the tenants. This is crucial).
- Specify or make a list of key addresses and phone numbers such as the caretaker of the complex (kapyji), an electrician or plumber, the duty department of the nearest public hospital, 1-2 private clinics, and round-the-clock pharmacies. Also, find out how to get to the bus station and the airport. Don't forget about the phone numbers of one or two neighbours and also give them your contacts.
- If you rent out a furnished property, you should make an inventory of what is there and in what condition: an acceptance act to avoid any claims from both sides. It is better to photograph all defects and nuances in your property.
Extra nuances
- If you are planning to rent a home, don’t make a deal without visiting an apartment or house at least 2-3 times, as some nuances may come out. You should come to see this property during the day (for example, in the afternoon and evening) and in different weather. This will allow you to get a sense of the temperature in the house at different hours or potential noise from the road and neighbours, as well as the light during the day.
- If the housing needs repair, the tenant and the owner can agree that the tenant will repair the housing, and the amount spent will be deducted from the rent.
Lease agreement: what you should remember
Before renting out housing, it is necessary to conclude a lease contract. This is the only document that will protect you if you get into trouble. However, the court has begun to consider your social networks, but you should not count on it.
Be careful with the contract – both as a tenant and as an owner. Be sure to consult with a lawyer if you rent out your apartment through a real estate company that provides a standard contract.
What you should check
- Is the renter is really the owner of this property?
- The exact information of the tenant (his name and identity documents).
- Exact address: street, house, and apartment number (if any).
- All payments: the amount of the monthly rent and aidat. When concluding a multi-year contract, the owner does not have the right to unilaterally increase the rent by more than the rate that the state regularly recalculates. However, less is possible by mutual agreement with the tenant. According to the Turkish rules, the fee increase cannot exceed 25% of the previous year’s rent.
- The contract must specify the term and amount of the rent increase.
- The deadline to pay the rent. This period may vary by agreement between the tenant and the owner. Sometimes, the landlord may allow the tenant to defer payments for 2-3 weeks or even a month if the tenant pays regularly. Confirm the exact information about the bank details and that the transfer indicates "rental housing". If the payment is in cash, be sure to make a receipt!
- If a transfer fee is charged, the tenant takes an additional percentage, unless he has agreed otherwise with the owner.
- The deposit amount and conditions of return (or non-return). For instance, a lawyer may state that when moving to a rented apartment, the tenant paid TL 1,000 per month and leaves the same amount as collateral. A few years later, when the rent rises to TL 1,500, and when the tenant moves out of the apartment, who warned that the contract will be terminated termination at the right time, the owner will have to return TL 1,500 without any claims! This is the "default" option, so it makes sense for the homeowner to include an additional clause in the contract. It should indicate that the deposit is refunded in the amount of XXX TL — that is, as much as was deposited.
Losing TL 500 by mistake after a couple of years of renting an apartment in Turkey is one thing, and TL 10,000 after several years of renting a villa is quite another.
We will help you buy Real Estate in Turkey
Highly-qualified Turk.Estate specialists can help you choose and buy a house in Turkey. The list of agency services includes:
- Supporting at all stages of the transaction. Turk.Estate customers can count on the support of experts throughout the entire purchase process: from finding a suitable property to signing documents with a notary.
- Informing about current pricing. Turk.Estate has a comprehensive database of Turkish real estate prices. This allows the agency's clients to purchase various properties at the best prices.
- Solving legal issues. Turk.Estate agents collect and check all the necessary documents to conclude a transaction.
