Maximize Returns with Your Turkish Property Investment
By
Ramin Babaei
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Turkey stands as a lucrative destination for property investors, especially in the buy-to-let segment. Many property owners capitalize on their investments by renting out their spaces during their absence. This not only ensures consistent occupancy for security but also paves the way for an additional revenue stream.
While several property management companies offer comprehensive services, you can also consider collaborating with local agencies or dedicated teams who handle tasks like property checks, tenant communications, and amenities like cleaning and welcome kits.
For those interested in guaranteed annual rental returns, our expert property consultants are here to guide you.
Promoting Your Rental Asset
While many firms will take charge of marketing your property (often at an added cost), it's wise for property owners to spearhead their promotional efforts. Here are some avenues to consider:
- Leverage word-of-mouth through close connections, family, and friends.
- List your property on renowned platforms like Owners Direct and Holiday Lettings to reach potential renters and manage inquiries.
- Build your property's online presence with a dedicated website and a Facebook Page. Join local community groups on Facebook where you can showcase your property.
- Consider advertising in local dailies, both in your property's vicinity and your resident city.
- Look for bulletin boards in supermarkets, pubs, and community hubs to pin your ads.
- Display an “Available for Rent” board on your property with an accessible contact number.
Tax Implications for Rental Income
Property owners should be aware of taxation on rental yields, which typically starts around 15%, subject to the income bracket. International investors need a tax number for their dues, and our team is here to facilitate that. While deductible expenses are recognized, tax declarations are generally expected annually by March. For detailed insights on tax structures and submission, connect with us. Alternatively, consider consulting an accountant to set the wheels in motion.
