- Thread starter Suzz
- Start date
Question for you
Buying to Rent a property in Dalyan Turkey
where to start?
Who will manage the lettings, how can you be sure they are trustworthy?
Compulsory Turkish company registration and taxes.
Insurance?
UK income tax Class 4.
Suitable furnishings and equipment, maintenance and replacement.
Safety standards.
Pool? Associated costs.
Letting market? Turks or foreigners?
I'm sure others will add to the list.
Who will manage the lettings, how can you be sure they are trustworthy?
Compulsory Turkish company registration and taxes.
Insurance?
UK income tax Class 4.
Suitable furnishings and equipment, maintenance and replacement.
Safety standards.
Pool? Associated costs.
Letting market? Turks or foreigners?
I'm sure others will add to the list.
Buying to Rent a property in Dalyan Turkey
I've never been sure that renting in Turkey was a profit maker. Certainly if done honestly paying appropriate taxes I doubt it and anyone who has bought to rent from earlier days and has to repatriate TL to £ at today's rates will have seen all their profits wiped out.
Buying to Rent a property in Dalyan Turkey
If you are buying the property for yourself and don't need any income from renting to make it work then fine. If you are relying on rental income to purchase it or are looking for a return forget it, to many imponderables.
Kanga touched on a few things to consider.
If you buy make sure you are able to actually rent it out.
Beware of service charges especially with regards the pool. I have heard that some Turkish residents don't like paying for the pool but despite what they say they do use it!
Kanga touched on a few things to consider.
If you buy make sure you are able to actually rent it out.
Beware of service charges especially with regards the pool. I have heard that some Turkish residents don't like paying for the pool but despite what they say they do use it!
Buying to Rent a property in Dalyan Turkey
I would advise that if you are thinking of spending a long time some wear then rent first of all and get to know the area, then if you don't like it there then you can move on, if you buy you are stuck with some thing you may not be able to sell.
yalimart
The Carnwath Massive
Buying to Rent a property in Dalyan Turkey
We were successful at it although it wasn't our primary plan when we bought the house, we kept our books and declared our taxes on line, there was a link to the Turkish Tax system just for this purpose, We also declared to the Inland revenue here.
We then decided to sell at the point Turkey was bringing in more and more legislation re short term rentals, which would have made it difficult to carry on, we had used a big UK company to advertise and had local assistance for the pool, cleaning and general repairs, I found managing that quite easy although as stated earlier there are some rogues about.
We also did ok on our sale, in fact very well, very much by luck than forward planning though.
If We had sold the same property today We would only get half in £s to what we sold for at the end of 2017 providing of course the TL value of the property hasn't doubled
If I was going back long term I would rent and get involved in nothing other than being lazy and chilling out.
Martin
We then decided to sell at the point Turkey was bringing in more and more legislation re short term rentals, which would have made it difficult to carry on, we had used a big UK company to advertise and had local assistance for the pool, cleaning and general repairs, I found managing that quite easy although as stated earlier there are some rogues about.
We also did ok on our sale, in fact very well, very much by luck than forward planning though.
If We had sold the same property today We would only get half in £s to what we sold for at the end of 2017 providing of course the TL value of the property hasn't doubled
If I was going back long term I would rent and get involved in nothing other than being lazy and chilling out.
Martin
Buying to Rent a property in Dalyan Turkey
Renting seems the way to go and hopefully as we are looking more at the winter months it won’t be too expensive
Mushroom
Member
Buying to Rent a property in Dalyan Turkey
We had 10 good years using that formula but being brutally honest, it has many requirements that can take the shine off it.
Start up costs, furniture and fittings, yearly maintenance fees, tax, wear and tear, repairs and refurbishment and unless you have trusted renters -risk.
After selling, we returned as renters and it has been great.
My advice would now be simple- either buy it for your use and try to rent just to friends or family to offset costs or just rent and eliminate the potential problems.
Whatever you do decide, make informed choices and try before you go any further.
Good luck.
If you wanted to buy, use regularly and take a few renters to cover standing and running costs when you don't need It, it can be done.
We had 10 good years using that formula but being brutally honest, it has many requirements that can take the shine off it.
Start up costs, furniture and fittings, yearly maintenance fees, tax, wear and tear, repairs and refurbishment and unless you have trusted renters -risk.
After selling, we returned as renters and it has been great.
My advice would now be simple- either buy it for your use and try to rent just to friends or family to offset costs or just rent and eliminate the potential problems.
Whatever you do decide, make informed choices and try before you go any further.
Good luck.
