It is necessary to know to leasing in Turkey
Investing in real estate of Turkey, many foreign buyers assume not to live further in own Turkish apartment, and to lease it, gaining income, thus.
If you plan to hand over or lease apartments in Turkey, we think, it will be useful for you to know how similar activities in the real estate market of Turkey are regulated.
First of all, as for the cost of a rent of leased housing. According to the Law on debt obligations, since July 1, 2012 growth of a rent on housing is determined concerning growth of a price index of the producer and shan't exceed it. In other words, lease of housing can't rise in price quicker and more, than the prices of new housing.
If the lease contract is signed more than for year, first, pledge of the lessee shan't exceed a rent in three months. Secondly, within a year the owner of housing has no right to raise the price. And thirdly, if under the agreement payment is made in foreign currency, that, according to the law, the lessor has no right to raise a rent within 5 years.
The law in Turkey regulates also other relations of the lessor and the lessee. For example, if the tenant wishes to extend lease till three years, you has no right to lease housing to other person. Let's say your apartment already is leased by someone for rather long term, but you decided to replace the employer. First of all, you are obliged to notify in writing in a month the lessee on the desire to replace the employer. If the former lessee refuses to move down from the apartment, and you will insist, you should pay him compensation in the amount of the amount of an annual rent.
All disputes between lessees and lessors are solved in court. Also Turkish courts consider claims about rent determination according to a price index of the producer, a house condition, claims for a covering of additional expenses on lease of the housing, compulsory insurance of real estate, to taxes and so forth.
All told above (except for the judgment of disputes) extends only on lease of residential real estate and doesn't concern lease of offices. Law consideration about rent increase on office rooms according to a price index of the producer is expected only in 2020.
