Buying a property in Turkey is not just a great investment it enables you to have a luxury lifestyle for little money and it also means extended fantastic holidays whenever you choose and numerous long weekend breaks.
You have the option of just keeping your property for your own personal use or you can recoup some of your hard earned cash by renting it out and taking advantage of healthy rental returns, however, some new changes to rental laws will be of interest to you but don’t let it put you off making an investment.
Recent changes in rental laws must be adhered too or you can find yourself with a heavy fine. If a property is rented out then it must be registered with the local authorities/police you are not able to register your property yourself with the police initially and the easiest way to register is to use a letting agent. Owners cannot download the software for their property and passwords will only be given out by the police once the property has been officially registered. The software system is free to download once the property is fully registered, there are some reliable letting agents out there and I would ask friends or view trusted websites for recommendations.
The criteria are as follows:
Short term rentals: if you let your property either daily or weekly each new visitor/s must be registered with the local authorities.
Long term rentals: if your property is being rented long term i.e. monthly or yearly the tenant and the owner must be registered at the local Nufus office and they don’t need to be registered on the new system.
Don’t be fooled into thinking non rent payers such as your family and friends visiting your property on a short term basis are exempt from being registered, if the Tapu holder (you) is not present for the duration of their stay.
There will be an initial fee from the letting agent for registering your property with the police and with each new short term rental a small fee will be applied to register their details. It’s not worth taking the risk of being fined as failure to register the property is currently 10,000tl. If you fail to register people staying on a short term basis the fine is 5,000tl per day. If you have nobody renting your property the system has to be entered with a zero so the police know there is nobody there.
There are various reasons this new law has been enforced and it’s across the board not only for foreign home owners. I see it as a step forward so the local authorities and police are aware who is coming and going from all rental properties and who is visiting cities, resorts and villages on a regular basis. Please don’t be deterred by this new ruling it has been implemented for a reason, just find yourself a good letting agent and your good to go. Happy house hunting in Turkey!