What to Consider When Renting Out Your Property

Renting out a property is a different process with different risks than selling it. With the right preparation, you can secure a steady income stream while avoiding potential disputes.

How Should You Set the Right Rent?

Rent should be set based on location, size, building age, whether the unit is furnished, and current comparable rents in the area. Listing above market rate can leave the property sitting vacant for a long time.

What Should the Lease Agreement Include?

• Rent amount, payment date and increase terms
• Deposit amount and refund conditions
• The intended use of the rented property (residential/commercial)
• How maintenance and repair responsibilities are divided between the parties
• Contract term and termination conditions

What Should You Consider When Selecting a Tenant?

A prospective tenant's income situation, references and any prior rental history are worth evaluating before signing an agreement. For commercial rentals, the tenant's line of business and operating history matter as well.

Is Remote Management Possible?

For property owners living outside Türkiye, processes like finding a tenant, managing the lease, tracking dues and utility bills, and coordinating maintenance can all be handled remotely. This offers significant convenience for investors who can't be regularly present in Hatay.

What a Lease Should Include

• The rent, the payment day and the payment method
• The basis for rent increases
• The deposit amount and conditions for its return
• Who is responsible for dues, utility bills and maintenance costs
• The term, renewal and termination conditions
• A photographic record of the property's condition at handover

Taxes and Official Obligations

Rental income may be subject to an annual income tax declaration depending on the amount, and because exemptions and filing conditions can change every year, they should be confirmed with a financial advisor or accountant. Renewing the compulsory earthquake insurance (DASK) policy is also an obligation the owner needs to track.

Managing Rentals From a Distance

If you live outside Hatay, you can handle finding a tenant, rent collection, maintenance and official procedures through a manager authorized by power of attorney. Our remote property management service follows these steps on your behalf.

Conclusion

A well-planned rental process turns into a steady source of income. From setting the right rent to preparing the lease, finding a tenant to ongoing management, we handle the process on your behalf.