Renting Out Your Turkish PropertyWed, Jul 15, 2020 12:00 AM
Turkey is an attractive buy-to-let destination. Some people rent out their property while they are not in the country, either to keep someone there at all times for security or to make a second income and recoup running costs.
Places like Bodrum, Antalya are where you can achieve the highest rental yields within the entire Turkish coastline.
Rental yields in the small, upmarket coastal resort are currently exceeding over 9% per year. As well as using rental companies and their complete property management programs, you can also easily employ third party local firms or a husband and wife team. They would deal with tasks such as checking for damages, dealing with renter’s requests and arranging items such as cleans and welcome packs.
Istanbul is ideal holiday resorts for buy-to-let properties. We can assist you with annual guaranteed rental options too. Please contact our property consultants for further information.
Marketing Your Rental Property
Individual companies will market and advertise your property for you, but this service is usually charged for.
Therefore, we recommend new owners should be pro-active with their own advertising. The following are
ideas and suggestions of how to do this.
1: Word of mouth advertising through family and friends.
2: Place your property online with companies like Owners Direct, and Holiday Lettings where you can advertise and manage your rental clients directly.
3: Make your own website and Facebook Page. Find out if there are any Facebook community groups where you can advertise your property free.
4: Advertise in local newspapers, either in the location where you have bought your property or in your hometown.
5: Find bulletin boards in supermarkets, pubs and community centres.
6: Place a “For Rent” sign along with a contactable telephone number on your rental property.
Paying Tax on Rental Income
Proprietors pay tax on rental income of which the amount varies depending on the level of revenue but
starts at roughly 15%. Foreigners who want to pay tax will need a tax number, and we can assist you to claim
this. Deductible expenses are allowed, and tax returns are usually due yearly in March. Please speak to us for
more information and assistance on the process. Otherwise, an accountant can also help you to get started.