You might be wondering if letting your Turkish Property is a problem? There are also questions to be answered: How much does it cost to rent a house in Turkey; What do you need to provide to rent a property; Is Turkey good for property investment; when to pay your tax and who would help you with this. How much is the rent tax amount in Turkey? We will also discuss Turkey holiday home lets & long term rentals.
You will have some inside knowledge about the rules for renting your property in Turkey as well as the essential steps for this.
Do I need to register my property with the local police or Gendarme for this?
Letting Your Turkish Property
Yes, you can rent out your property in Turkey and you have two main options for this. You would need to decide what sort of property rental option you wish to consider for your Turkish House.
Long Term Rentals
If you are thinking of a letting your property out for a year or longer then you only need to sign a standard tenancy agreement with the prospective tenants. If you are using an agent, then they can seek a credit check from these applicants. If you are satisfied with the report and their answers then you can have them sign this agreement. We recommend you to get them to sign it in the notary office with you or your legal representative.
You would then declare this income to your local Turkish Tax Office, for example Fethiye Maliyesi. You will have 28 days for this declaration and your tax payment will be due by the month of March for each year. Your tax free rental amount is 7,000 Turkish Liras as of 2021 and this amount is changing on a yearly basis with the annual inflation rate. Your tax amount will be shown in your e-devlet (electronic state account) and you can make this in two instalments in March and August. Rental Income tax is starting from 15% over 7,000 Turkish Liras and this amount increases up to 40% on or over 600,000 Turkish Liras per annum.
Short Term – Holiday Rentals
It is completely different from the long term rentals and regulation is different. To be able to rent your house for short term lets (daily, weekly rentals) you would need to be registered with the local uniformed authorities. To do that you would need to have a sole or limited company for this purpose first. You would then need to apply to the local authority with your property ownership documents (Tapu – Title deed) then you will receive a special code from them. There will also be an email with a special link for you.
Procedure After Permit
After you complete your registration you would need to use this link on a regular basis. This will require the full details of your guests who are staying at the property. This is basically what the hotels and pensions are doing on a daily basis. So, you must obtain your guests / visitors passport photocopies and telephone numbers prior to their check in and make sure that this is completed for each day they are residing in your property in Turkey. We would also recommend you to have an accountant when you do holiday lets.
Is it too complicated? Just get in touch with us and let us to assist you with it. We may be able to offer you a fixed price rental agreement so you don’t have to do anything other than obtain this above code and email from the Local Authority. Alternatively, we can assist you with the above procedures for a fixed fee.
We hope that you are now more clear about renting your Turkish Property. Should you have more questions about it, please contact us and we will try to answer your questions.
You can visit the link below if you are looking to purchase a property for holiday lets.
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