— In Turkey, renting out real estate is one of the most popular tools for obtaining passive income. A lot of Turks earn their living this way. You can rent apartments for a short period of time - it's a few days or weeks, a month or more. This is called a short-term lease. You can also rent the property completely for a whole year, then your tenants will live in a long-term lease. They will pay for the maintenance of the complex, they will pay for water and electricity meters themselves. Our company provides rental services for both short-term and long-term rentals. There is one condition. The owners whose real estate we rent out, rent out housing only for a period of two weeks or more. Therefore, our company also offers housing for rent for at least 14 days.
Let's take a closer look at short-term rentals. Can any owner rent out their home?
— Not every owner can rent a house in Turkey. In January 2017, a new law on short-term rental of real estate was released. To engage in such activities, you need to get a special license. To obtain a license, you need to be a legal entity, that is, open your own company, or be a private entrepreneur. There must be a residence permit. In addition, the owner who wants to rent a house is obliged to get a special password at the police station. You need to register with the tax service to pay taxes. You will need to pay a monthly declaration, and regardless of whether you rent the property or not. When moving in, new residents need to be registered with the police (for this you need a password), meet them, accompany them, be sure to issue an invoice, pay tax and VAT from each visitor.
That is, now all these procedures of owners renting out housing have been obliged to conduct. Why was such a "harsh" law adopted?
— In fact, the law is very useful. Firstly, tenants are now protected from unscrupulous apartment owners. Previously, there were cases when the same apartment was rented several times at the same time. Secondly, security. Since every guest registers with the police, the authorities know exactly who lives in a particular apartment. And, thirdly, taxes. The authorities are interested in paying taxes from the income received by private owners, many of whom, by the way, are foreigners. And now who wants and to whom wants to rent an apartment just can't. That is, there is more order in this area and the law is definitely useful.
And if, after all, the owner of the property will rent out his home without a license? — Such cases are very rare now. Inspections are arranged quite often and the punishment for violating the law is serious. For example, at the first violation, a fine of 5000-10,000 Turkish liras is imposed on the owner of the apartment, that is, it is about 1,700 dollars. In case of repeated violation, the fine becomes even greater, and the property is sealed. And if the owner is caught for the third time, he may face deprivation of a residence permit, and even imprisonment. Therefore, now there are fewer and fewer people who rent apartments without a license. At the same time, not everyone is on the path of opening a company. In the presence of one or two apartments, it is not very expedient and profitable, in terms of accounting, tax payment and record keeping.
What will happen to those tenants who rented a house, but it turned out that its owner does not have a license?
- Unfortunately, such people remain without housing and without money... They are simply evicted, and sometimes they are deported from the country. Therefore, it is definitely not worth taking a risk because of the dubious price difference. Your rest, the comfort of your family is much more important. Always check with the person from whom you rent an apartment, whether there is a license and whether you will be registered at the police station. It is very important.
How now to be the one who wants to rent out his apartment?
- Of course, you have a way to open your own law firm, you can get a license. But, as I said above, it's quite difficult. Therefore, most owners prefer to conclude contracts with real estate sales agencies. For example, you can contact our company, we provide such a service. But, I draw your attention, the service is only for those owners who bought real estate with us, it is part of our after-sales service. Our company employs lawyers, has an accountant and we fully take responsibility for your property, for its safety. We have a license to carry out this activity, we work with strict compliance with all laws. And most importantly, we have experience in this field. I have created a rental department that fully deals with all these issues. That is, the landlord will not worry at all whether his apartment is rented, whether taxes, bills and everything else are paid. All the work is done by our rental department. And the landlord receives clear reporting: how many arrivals, what income, what expenses. And, of course, money. Even if the owner of the apartment lives in another country, we will regularly transfer money to him anywhere in the world.
A foreigner bought an apartment with the help of the Homes Turkey agency and decided to rent it out. What is the algorithm of his actions?
- You need to contact our rental department. We coordinate the amounts and put the housing on the website, we begin to offer it to potential tenants. It is also important that the owners themselves set the cost of living in their apartments, taking into account, of course, the commission of our agency. I would like to emphasize that most of them are spent on paying taxes, VAT, IDAT, etc. After agreeing on all the nuances, we sign a contract with the owner. In order for our owners to pay for the contract according to the minimum program, they rent us apartments for a year. Accordingly, under this scheme, they do not pay taxes for each visitor. And they pay only one tax, which is about 100-160 euros per year, depending on the cadastral value of housing. The tax is calculated as follows. The minimum rental yield in the tax can be shown as 6% of the cadastral value of housing. For example, the cadastral value is 100 thousand liras. Accordingly, your annual income will be indicated - 6 thousand liras. Out of 6 thousand liras, 4 thousand liras are not taxed. We multiply the remaining 2 thousand liras by 15% and get the amount of the annual tax for renting, since you rent it for a whole year to our company. And we rent out your apartments already for short-term rent and pay taxes from each visitor ourselves.
It turns out that after signing the contract, you take care of renting out housing, paying aidat, short-term tax?
"That's right. The owner can only get his money from renting his home. Finding tenants, putting things in order in the apartment, paying taxes, solving some minor household issues — all this will be handled by our company. For owners it is convenient and very many rent their homes that way.
Let's talk about tenants. How can they rent a property with the help of your agency?
— The algorithm here is also very simple. You need to contact us, call or write, and indicate your wishes, rental terms, desired price, number of residents. We select options and from them the future tenant chooses something for himself. Next, we ask the tenants to send copies of their passports to fill out the contract and later for registration. We send them, in turn, the contract. If the tenants agree with everything, they send us a deposit of 200 euros. This will be a deposit. Upon arrival, the tenants are met by our employee, the keys are given to the arrivals, we will answer all questions. Upon departure, the safety of the property is checked, the payment for light and water is deducted from the amount of 200 euros, the rest of the money is returned.
Do you think buying an investment property is profitable now? Do many foreigners buy such housing?
- Now the sales market is generally very lively. If we take, for example, our city, then Alanya ranks 2nd in real estate sales in Antalya province. During the seven months of this year, 6,356 real estate objects were sold to local residents and foreigners in Alanya. For comparison, a little more than 6 thousand 800 objects were sold in Alanya over the past year. Russian citizens buy a lot of housing from us, Europeans have become very active recently. As for investment housing, this sector is also becoming more and more in demand. Getting passive income, and without any risks - this attracts many. Now there is an active development in Alanya and the suburbs, very successful residential complexes are appearing, as well as the renovation of old housing in the city center. Demand has also increased for rental housing, because there is a large tourist flow, prices in hotels are rising. And many have already realized that a hotel vacation and a vacation in "their" apartment are two big differences and rented housing is much more convenient.
Contact the company Homes turkey, we will definitely tell you in which areas and residential complexes it is most profitable to invest money now in order to subsequently rent apartments and receive passive income. Believe me, this is a profitable and simple business that will not require any effort from you.
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