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Can I Rent My Property in Turkey?
Yes, a foreigner who acquires real estate in Turkey to apply for Turkish citizenship, or investment reasons, can lease his or her property from the very first day without any restrictions.
Turkish citizenship by investment program mainly imposes one restriction: “not to re-sell the property in three years.” This restriction is also registered in the land registry and any breach of such re-sale shall be deemed as an abuse of law. But selling restriction does not mean that the subject property might not be rented as a whole or in parts.
Renting Out Your Property in Turkey
Turkey is a popular buy-to-let location. Some individuals rent out their properties while they are away, either to have someone on the premises at all times for reassurance or to supplement their income and recuperate operating expenses.
You may get the greatest rental returns on the whole Turkish coastline. The tiny, upscale seaside resort’s rental returns are presently topping 9% per year. You can use third-party local firms or a husband and wife partnership in addition to rental corporations and their comprehensive property management programs. They’d be in charge of things like checking for damages, responding to renter requests, and scheduling things like cleaning services and greeting packages.
If you select a good location you won’t have any problem finding a tenant for your property in Turkey.
If you are looking to sell your property in Turkey, not rent it, check out the related article linked below.
Related Article: Sale of a Property in Turkey
Marketing your For Rental Property in Turkey
Private firms will promote and publicize your property in Turkey for you, but they will typically charge you for this service. As a result, we advise new property owners to be proactive in their marketing.
If you are looking to handle your legal affairs and property matters in Turkey, you can contact our expert Turkish lawyers.
The following are some recommendations and ideas about how to go about it.
- Family and friends spread the word about your business.
- Place your property on online web platforms about property rental in Turkey, thus, you can advertise and manage your rental clients directly.
- Create a website and a social media presence for yourself. Check to see if there are any Facebook (or LinkedIn, etc.,) community groups where you can post a free ad for your property in Turkey.
- Publicize your property in local publications, either in the area where you purchased it or in your hometown.
- In supermarkets, bars, and community centers, look for bulletin boards to place your ads.
- Put a “For Rent” sign on your rental property in Turkey, including a phone number so that people may reach you.
Paying Tax on Rental Income in Turkey
The amount of tax paid by owners on rental income varies based on the quantity of revenue, although it typically starts at around 15%. Foreigners who wish to pay taxes will require a tax number. Tax deductions are available, and tax returns are generally due in March each year. Please contact us if you require further information or assistance with the procedure.
We hope that this article answers your questions on; “Can I Rent My Property in Turkey?”