Turkey is exuberantly experiencing a spike in foreign property purchases and the arrival of investors to the ranks from across the globe. This should come as no surprise; primarily as Turkey is a picturesque country surrounded by stunning coastlines, enriched with natural wonders and embedded in rich historical spirit. With great weather and lively cities, life is both relaxing and exciting in comparison to other countries in the world, and the citizens are famed for their hospitality.
In recent years, the Turkish government has put an end to rigorous protocols that once made living in the country seemingly difficult for foreigners. If you are looking for renting a house in Turkey, here are some basic details you should know before jumping on the property-searching bandwagon.
Renting a flat in a foreign land can often be intimidating and stressful, especially for first-timers, expats, and foreigners. Finding an ideal place to live can be an overwhelming journey as a whole. But does property-hunting really have to be a daunting task? We do not think so!
People who have received the Turkish residence permit are entitled to rent a home in Turkey. While having a basic understanding of Turkish property rules can get you a verified apartment, being thorough and cautious in your approach can land you in an attractive flat in little time.
How to find a property to rent
As is the case all around the world, Turkey has its own particulars and quirks that anyone intending for a long-term rental should mull over. First off, you need to determine the locality where you wish to rent. Decide whether you are looking to rent an entire house directly from the owner or through a real estate consultant.
Word-of-mouth is also a steadfast tradition in Turkey as landlords usually prefer to rent out their properties to people they personally know. While you need to be physically available in the neighborhoods to discover tiny rental signboards, it is often not a feasible option for foreigners living continents apart. On the other hand, renting through a real estate consultancy offers several advantages right out of the gates. They have an extensive real estate portfolio, enabling you to select from a wide range of residential and commercial properties in a radius of different price constraints.
Real estate consultancies also offer options such as free site visits and virtual tours. They can show properties forthright that perfectly aligns with your lifestyle needs and budget.
Queries that should be on your checklist
Don’t be perplexed if the house you are checking out appears to be in a substandard condition. In Turkey, any property repair or taxes are paid by the land-owner. In rare scenarios, few landlords leave maintenance issues and duties such as a new coat of paint to the next incoming. If that is the case, you can negotiate house-repairing queries with the owner and preeminently arrange to drop off the maintenance charges from the future rent. To avoid any miscommunication or upsetting in the later months, make sure that you clarify the issues as clearly and early as possible.
With reference to what to look out for, check for the cellular phone, landline, and internet reception. Find out whether there is a water tank for mainline cuts as well as water pressure. Search for nearby shops and grocery stores and ensure that you are living close to markets or in a locality with basic amenities. Verify if the previous utility bills have been paid and discuss how and whether you will be putting them under your name.
Would there be any hidden fees?
When you are renting a flat in Turkey, it is a normal trend to pay one month’s rent as a security deposit along with the first month’s rent up front to the landlord. Finding a home via a real estate agent can additionally cost you around 10% of the annual rent as a finder’s fee, however, they will guarantee you the best fit in the neighborhood.
Keep in mind that utilities such as water, natural gas, and electricity may require deposits when being transferred over. A lot of properties in Turkey come with an “aidat”, which is basically a monthly maintenance charge for the house.
The Consumer Price Index (Tüketici FiyatlarÄ± Endeksi – TÜFE in Turkish) decides the annual rental increase of the rented property which is currently 12%. Basic furnishings such as appliances and furniture along with payment transactions should also be noted down with the landlord prior to giving a nod to the house. In times of urgency, it is wise to discuss how the contract can be terminated early if necessary. As per the norms, at least two months of written and notarized notice is mandatory otherwise the landlord can hold you liable for the remaining listed months in the contract.
Nevertheless, it is always to your advantage to keep the documentation and paperwork ready. If under unavoidable circumstances, your landlord decides to sell the property, you’re endowed with six months’ time to move out in case you have a notarized contract. Otherwise, if you have a rolling contract, you may be asked to leave the property in as little as two months.
Properties can be rented either through a real estate agency in Turkey or directly from an owner. While the contracts are usually for a period of twelve months, you can vacate earlier upon prior notice. Ensure that there are no damages and the house is in a good condition, otherwise, the landlord may file a lawsuit against you for compensation.
By and large, Turkey’s rental norms are almost identical to most of the countries around the world. Locals and foreigners hold equal rights and are treated the same way with regard to real estate purchases or rentals.
If you are looking for property for sale in Istanbul, browse through our attractive listings of premium Turkish real estate approved for availing citizenship. Contact our seasoned real estate professionals and legal advisors for further details such as payment plans, installment options, legal compliance, and citizenship guidelines here.