The main advantage of short-term rentals in Turkey is the opportunity to earn money. Renting an apartment or house for short term, homeowners can get an excellent profit. For example, renting an apartment in Istanbul for one night can cost from $50 to $150, depending on the location and comfort level.
However, in 2017, Turkey passed legislative changes that affected the financial income of many owners of apartments and houses located abroad. Now individuals are not allowed to rent out their property for short-term rentals, this type of business is only available to legal entities (companies) with a special license.
In addition, there are other requirements that landlords must meet in order to be able to do this type of business. Some of these requirements include:
- The building, or part of it, must have at least 30 beds (beds, not cots or couches).
- The property must have: fire alarms and stairs, surveillance cameras, 24-hour security, etc.
- Legal entity must become registered with the police.
- All guests, regardless of age, must be registered.
Violation of these regulations can be punished with a fine of about 5,000-10,000 liras for each unregistered occupant. Refusal to pay the fine can lead to deportation from the Republic of Turkey. In case of repeated violations the court can increase the fine, seal the property and eventually deprive you of the right to engage in this type of business. Get a permit for short-term rentals is problematic, but possible. The average return on such a lease is less than 10%. This means that in order for your apartment in Turkey to rent successfully and without problems, not only you, but also the market must be interested in it.
