Renting out an apartment to tourists for vacation is a great advantage for the owner, because... In addition to income from short-term rentals, during the season he himself can use holiday housing by the sea. However, long-term rent has its own significant advantage - it is stability and constant income on a long-term basis. With this type of rental, there is no need to waste time and effort on constantly searching for tenants, registering them, monitoring the condition of the property and the absence of debts after each tenant.
When thinking about long-term rent, it is worth considering the following points:
✅ To rent out an apartment, you need to draw up a notarized agreement with the tenant for a period of at least 6 months and register all tenants in Nüfus Müdürlüğü (passport control).
✅ At the moment, according to the law, the landlord does not have the right to raise the rent by more than 25% per year. In light of the current inflation in Turkey, this may be a disadvantage.
✅ One property – one residence permit. This means that you can only obtain a residence permit using a specific property once. That is, if you bought an apartment and thanks to it received a residence permit, then it will no longer be possible to obtain a residence permit for rent to other people.
✅ Possibility to rent out an apartment for long-term rent independently or through a real estate agency. Agencies are very convenient and practical: they are the ones who search for guests and interact with them throughout the entire rental period. The landlord is not required to do anything other than be present at the signing of the agreement or execution of a power of attorney for these actions.
✅ Consider the capabilities and cost of maintaining residential complexes. Modern residential complexes in Turkey are level 5+ convenience. It is easier to rent out housing there, but you will also have to pay more for their maintenance. In Turkey, payment of all utility bills is the responsibility of the tenant, therefore, when renting, it is important to warn about the planned expenses.
✅ Guarantee in case of property damage. Take a deposit from the tenant, which is returned at the end of the lease term or can serve as compensation to the tenant in the event of property damage or unpaid debts by the tenant.
✅ In Turkey, utility bills are paid by the tenant, he himself enters into contracts with resource supply organizations, so the landlord receives a net profit from the rental without the cost of maintaining housing.
✅ Also, a Turkish feature of long-term rental housing is that apartments are very often rented out in the same form in which the developer handed it over, i.e. unfurnished and practically empty. The tenants buy the necessary furniture themselves, and after the lease expires, they take it with them. Therefore, the landlord does not need to spend his money on cabinets, cabinets, etc.
✅ For long-term rentals, you can claim a profit of 4-5% per year. Now there is a confident increase in housing prices, which leads to an increase in annual income from rental property.
Tip from House Bind: You should write an “evacuation letter” (tahliye taahhutnamesi) and get the tenant’s signature on it.
This letter guarantees that the person will definitely move out of your apartment at the end of the term. Otherwise, you may stumble upon dishonest citizens who will not want to leave the living space, and it is very difficult to expel such tenants, since in Turkey this category is legally given an advantage and the owner does not have the right to enter the home without the consent of the tenant, this is a serious offense. And it is only possible to evict negligent tenants through long legal proceedings, during which the owner loses time and money.
House Bind specialists have significant experience in renting real estate in Turkey. We are always ready to help you in this area and fully take care of the legal leasing of your Turkish property, monitoring its safety during and at the end of the lease period, timely payment by tenants of the main and related, utility and other payments. With our help, you can benefit from investing in Turkish real estate without unnecessary worry and inconvenience.
