Property management entails overseeing all aspects of your property and acting on your behalf when dealing with tenants. Rental contracts are long-term in nature, and under the protection of Turkish law, the tenant has far more rights than the Landlord. As a result, it is critical to managing your property with the assistance of professional staff.
Accessibility is easy to reach every day of the week by contacting through communication channels and personal assistance that is providing a better service by assigning a professional to monitor the property and providing special assistance in all aspects of it very important. In addition, home improvement projects are handled through subcontractors which maintain trustworthiness.
Below is the list of the Best Property Management Companies in Turkey.
- Realty Group
- Altinkum Sahil Emlak
- Property Istanbul
- Eczacibasi Property Development and Investment
- Peker Gmyo
- Halic Property
- Artev Global
1. Realty Group
Realty Group is the home of passionate, motivated, and highly qualified sales specialists committed to exceeding our client’s expectations since 2009. As they are self-sufficient and highly involved in the real estate industry, they have the freedom to expand their serviceability and marketing opportunities to their customers. With Realty Group’s knowledge and expertise, you will choose the right property that suits your budget and expectations.
The most significant aspect of owning a home in a foreign nation is property management. Many investors considering entering the Turkish real estate market are unsure of how to proceed; some choose to invest individually, but others find the process complicated and risky, so they choose to partner with a specialized real estate investment management company, which offers significant advantages over individual work.
Realty Group provides a high degree of service to our clients based on our dependability in Turkey’s substantial real estate industry. As a result, clients from all over the globe had an excellent, reliable opportunity when they realized their goal of buying a property in Turkey or got the best profit from real estate investment via our consulting.
It is consistently ranked first and competes in this congested Turkish real estate and investment industry. Their success in this massive market for over a decade is a result of their professionalism and the effective consultation they provide to ensure the most significant levels of satisfaction for real estate buyers or investors.
With its headquarters in Istanbul and three additional branches throughout Turkey, it has grown its business and brand over the last decade, assisting nearly 1500 clients from 16 countries in living in or investing in 1100 different properties throughout Turkey, Germany, Cyprus, and Bosnia and Herzegovina.
The Internet has changed how people seek homes. As a result, Realty Group analyzes and deploys new technology to maintain a solid online presence. It’s a great way to sell their homes and tell clients about their outstanding real estate sales in Turkey and other countries. Every buyer has a unique point of view and lifestyle, seeking comfort and relaxation.
The number of family members, their income, and the neighborhood determine the residential zone. While apartments are popular in Turkey, many wealthy clients prefer a private villa to escape the city’s bustle. Your dream villa may be within reach with their skilled real estate experts’ help. Villas are like flats. The location of a villa and nearby social facilities like hospitals, schools, and shopping complexes affect costs.
The housing system in Turkey has changed considerably with the emergence of flats with hotel services, or as they call them, residence complexes. Many of these projects come with a rental or resale guarantee. If this option is not included in the project, they may be able to provide it to you through their after-sales services and property management specialists to ensure your investment is a success.
Due to its strategic position between Europe and Asia, as well as its beaches (especially those on the Black Sea and the Sea of Marmara), and its cultures and civilizations, Turkey is a stunningly beautiful country. People are investing in Istanbul due to its attractive projects, moderate service prices, and high rate of return. In recent years, demand for real estate in Istanbul has increased by over 370 percent globally. As a result, it attracts foreign investors interested in Istanbul real estate.
Apsiyon is a cloud-based web tool that helps property managers in gated communities and mixed-use complexes. They enable personalization across various platforms, from banking to CRM. In addition, they offer management software for collective living places such as apartments, estates, and residences in Turkey. Their products help thousands of forward-thinking property managers manage their properties faster, safer, and more transparently.
On-site property managers maintain an office building, shopping mall, or residential complex. They deal with tenant complaints, accelerated repair requests, and construction.
On behalf of the owner, a residential property manager manages an income-producing residential property. Residential property managers answer tenant requests, concerns, and difficulties and serve as the building’s initial point of contact.
Missafir offers short-term leases in Istanbul for foreigners. Highly qualified management profile on social media platforms, an efficient and experienced photography team that takes you to another world in your house, customer services provided to guarantee our guest security and comfort 7 days 24 hours a, and well-trained and qualified cleaning and laundry team are what Missafir offers its customers.
4. Altinkum Sahil Emlak
Altinkum Sahil Estate Agents has around five offices in Turkey. They provide apartments, villas, duplexes, and detached properties for sale and rent in Altinkum, Didim, Turkey.
5. Property Istanbul
Property Istanbul is the school of well-structured and constructed developments for new properties built in Istanbul. It provides you with detailed information for projects under construction. You can easily deal with buying property in Istanbul, which offers you various and wide options.
The type of properties they offer is buying and selling properties as well as residence and citizenship programs.
6. Eczacibasi Property Development and Investment
Eczacibasi development and investment is a pioneer in the field of contemporary, high-quality, and healthy living. Eczacibasi Property Development and Investment has completed essential projects: the Ormanada residences, Kanyon, the Kanyon Heliport, the previous headquarters of the Eczacibasi Group, the “193” office tower, and the athletics hall of Eczacibasi Sports Club.
7. Peker Gmyo
Peker Gmyo is a publicly-traded business in the Real Estate industry that specializes in Real Estate Investment. The type of properties they offer is buying Property, selling property, and citizenship and residency.
8. Halic Property
Halic Property is a property management business that guides purchasing a properties in Turkey. The type of services they provide consist of Budgeting and Cost Control, Rental Management, and Warranty and Tax Management.
eKira is a firm that offers rental apartments for owners and dwellers. They strive to make renting an easy and problem-free experience for their customers. It supports foreigners with residence and apartment rentals, including families and international students depending on their budget.
10. Artev Global
Artev is a property development firm specializing in designing, building, and selling fully equipped holiday homes. In addition, it offers a ten-year structural guarantee on large vacation homes and financing and after-sales services for a range of projects. It was founded in Mugla, Turkey, in January 2006. They assist potential buyers in locating the most memorable accommodations in Mugla, Bodrum, and the surrounding area. They also give property guidance.
What is an Estate Management Company?
An estate management company is a company that has professional staff who manages property for the clients and takes a big workload off their hands. An individual or organization that the property owner hires to monitor and manage the day-to-day operations of their real estate investment is known as a property manager. Setting and collecting rent, responding to maintenance requests, filling unoccupied units, and maybe establishing the property’s budget are all duties of the property manager.
Property managers are regularly hired by real estate investors to manage properties that they do not live near or do not wish to handle themselves. Depending on the demands of the owner, a property manager may be a single individual or an entire management business.
Making sure that rental homes are offered in a secure, comfortable, and safe atmosphere is in the best interests of both renters and landlords. You must be aware of both your own and the landlord’s rights and responsibilities regarding estate management.
Estate management deals with things like grounds upkeep, parking, general usage of shared spaces, boundary disputes, cleaning and repairs of common areas, and grounds maintenance.
If you are worried about any aspect of estate planning:
Who is accountable for the problem can be determined by looking at your lease or tenancy agreement. There may be certain issues that fall under your purview or the purview of other residents. You can find information on who should handle the matter on your landlord’s website or in your leaseholder or tenant handbook.
Call the landlord’s customer care number to report the problem if it is their duty. Keep a record of all correspondence with your landlord, including copies of any letters and emails, along with the date, time, and name of the person you talked to or wrote to.
Check your lease or rental agreement, any resident manuals, and the landlord’s website to discover if the landlord has specified a time frame for responding to your report. Give your landlord the allotted amount of time to fix the problem. Additionally, your landlord may publish rules and procedures outlining how it handles estate concerns. These documents are often accessible on the landlord’s website.
Contact your landlord once more (ideally in writing) to let them know the problem is still open if you don’t hear back from them or if it hasn’t been fixed within the allotted period. Any written or verbal communication you have with your landlord should be documented.
If this doesn’t fix the problem, you could want to formally complain to your landlord.
To make sure that your activities do not negatively impact your neighbors or the surrounding area, you should also be informed of your responsibilities under your lease or tenancy agreement. There can be special rules on where you can park or how to dispose of your trash, for instance.
What do Property Managers do?
Everything that happens every day at a rental property is handled by property managers. They need to be knowledgeable and conversant with the sector of real estate that the rental works in, such as residential or commercial property.
The property manager subsequently works to make certain that the landlord’s goals are accomplished by monitoring rent, tenants, maintenance, finances, and rental property records. They must also be extremely knowledgeable about local, state, and federal regulations governing the right ways to perform tenant screening, manage security deposits, end leases, carry out evictions, and adhere to property safety requirements.
Because of these factors, some states mandate that property managers hold a real estate broker license. If so, a property owner will need to work with a broker to make sure their property is run legally.
While some states don’t require any kind of licensing, others enable managers to obtain property management licenses instead of real estate licenses. Property managers have a variety of specialties and experiences in addition to licensure. Property managers’ doings are listed below:
- Rent setting: Any landlord’s fundamental job is to set the rent. As a result, it is one of the tasks a landlord gives property management the most often. To entice tenants to the property, the property manager sets fair rent pricing. Typically, to do this, a survey of nearby comparable homes is conducted; to maintain the property’s appeal to tenants, this should be done at least once a year.
- Rent collection: Additionally, the property manager establishes a method for charging rent to renters. They establish a collection date to guarantee that monthly property expenses may be paid and strictly enforce late fee policies to achieve optimal cash flow.
- Screening Tenants: A property manager’s other primary responsibilities include selecting and overseeing renters. The property manager may be responsible for locating and vetting potential renters, handling day-to-day maintenance concerns and tenant complaints, as well as handling tenant move-outs and evictions. Note: The persons that tenants often deal with are property managers. You might require a property management company if you have numerous rental properties and renters.
- Property Administration: The property manager is responsible for maintaining the property’s safety and habitability. Physical administration of the property, such as routine upkeep and urgent repairs, is the responsibility of property managers. To ensure that the work being done by contractors and other repairmen is up to code and is finished on schedule, their work must be inspected.
- Running a Budget: Property managers may be in charge of overseeing the building’s budget and keeping track of any crucial documents. The management is required to stay within the building’s predetermined budget. They may use their discretion to order repairs in specific emergency scenarios when the inhabitants (tenants) or physical buildings (investment property) are in danger, or they may do so without regard for the budget. Note: To ensure accurate bookkeeping for income, tax, and investment purposes, property managers need to be knowledgeable in approved accounting procedures. For accounting considerations, complete property records are crucial. All income and expenses, a list of inspections, signed leases, maintenance requests, complaints, records of repairs, costs of repairs, records of maintenance, a record of rent collection, and a record of insurance costs should be included in the records.
Property Manager Types: Commercial real estate is their area of expertise for property managers. These managers might have extensive experience with commercial or industrial structures.
Apartment complexes are only one of the sorts of structures that multi-family property managers are accustomed to managing. These professionals must be able to defuse tense situations, provide excellent customer service, and carry out all the regular tasks of a property manager.
Single-family home property managers are employed by real estate investors who keep their properties and rent them out to create additional income. These kinds of investors typically invest in real estate in locations with high rates of residential turnovers, such as military communities where people have a propensity to hold off on home purchases.
To ensure that all aspects of the property are managed and that value is preserved while the property is occupied, they hire property managers.
What are the Advantages of Using Property Management Companies in Turkey?
Property management appears to be a complicated issue. Not only do you need a thorough understanding of country property laws, but you also have to include everything from background checks to property regulations, taxes, annual and monthly fees, and subscriptions. So it’s natural that for many investors and owners, property management can quickly become a full-time job.
The primary issue arises when they have another career to attend to, as well as work or family obligations. In addition, they are located away from the owner’s property area, and they may not be familiar with communication, language, available options, and procedures. If you entrust us with your property management, you will have space for family and the assurance that the job is appropriate.
A comprehensive process includes background checks, present status, rental, electric, water, gas, Internet, maintenance costs, and taxes. As a result, paying on time avoids any complications or additional fees.
You might choose to work with professional lawyers who can anticipate issues and entirely manage them, which means fewer worries for you.
Is It Safe to Buy a Property in Turkey?
Yes, if you conduct yourself appropriately, it is safe to buy a property in Turkey. Using a reputable estate agent is crucial. You need to consider their success record first and examine their web presence next. Professional agents have websites, Facebook pages, and other social media platforms to engage with customers. Also, Trust Pilot and Google Reviews allow individuals to rate businesses they have interacted with, so be sure to check those out.
Turkish law does not compel purchasers or sellers to retain the services of a lawyer, but we strongly advise you to do so. When we acquire a new property, we conduct our due diligence. Still, the lawyer will conduct official checks to ensure your investment is protected on paper, as conditions might change at any time. For instance, a home without an Iskan (Habitation certificate) might lose up to $40,000 in value. Additionally, the lawyer verifies that there are no liens on the property, drafts contracts, and arranges their notarization. It’s critical because courts will only accept notarized paperwork if the vendor withdraws.
It is acceptable to pay cash for additional purchasing prices. This could be the cost of interpreters’ services or utility registration. When transferring funds for the actual property, though, ensure that there is a paper trail.
Off-plan properties in Istanbul may offer a six-month to a five-year interest-free payment plan but follow the above principles regardless of the type of property you buy. Most buyers in Turkey’s current housing market prefer new construction or resale properties constructed after 2002. The reason is that building regulations changed then, making houses and apartment residences more resilient in the case of an earthquake.
Turkish government communicates with architects and seismologists regularly to ensure that these standards remain current with advances in construction. In addition, the government maintains a system called DASK. All property owners are required by law to purchase yearly DASK insurance, which is then pooled to ensure that your investment is protected in the case of an earthquake. Learn about Turkey’s earthquake-resistant building code.
Many people purchase real estate intending to pass it on to future generations. Turkey has its own set of rules governing inheritance. For instance, if the father dies, the children will share the property with his widow. However, buyers can circumvent these regulations by executing a private will. We propose you do this in Turkey rather than a foreign country, as Turkish courts favor their methods, making ownership transfer easier.
What is the Average House Price in Turkey?
The current average price per square meter in Turkey is 417 USD. This increased cost is due to significant shifts in the real estate industry. Due to growing costs of construction materials, particularly those imported from abroad, demand for rural rather than urban residences is on the rise. It’s important to keep in mind that this is the average price throughout the country.
A healthy, cautious investment with excellent capital appreciation potential is made in Turkish real estate by drilling down to the regional level. It is also where our services are helpful. As a national estate agent with offices in Istanbul, Bodrum, Antalya, and Fethiye, we know which homes to invest in and avoid. So, let’s look at what international property buyers in Turkey should know about regional house pricing.
It’s simple to see why foreigners want to buy property in Istanbul. Although not Turkey’s capital, Istanbul is its commercial, business, economic, educational, and health hub. So as well as vacationers looking for a vacation home, Istanbul attracts wealthy real estate investors.
They were drawn in by rapid European development and megaprojects like the Istanbul Canal. As a result, excluding inflation, annual average house costs rise 4% to 651 USD per square meter. But, aside from economic property, Istanbul is home to the Bosphorus, where properties are among the most expensive in Turkey.
Assume we travel south from the Marmara to the Aegean. In this case, we arrive in Izmir, Turkey’s third-largest city and another outstanding illustration of the country’s broad real estate market. In comparison to Istanbul, housing prices increased by an astounding 21% last year. The average price per square meter in Istanbul has risen to 506 USD. However, the city center and its adjacent beach resorts are transforming. Many citizens desire an urban landscape, which is why they travel to Izmir.
Observe the housing market from the Aegean to the Mediterranean. Foreigners have been flocking to this region for decades, making it Turkey’s top beach vacation destination. Antalya is the most popular holiday location in Turkey for foreigners. The city core has five distinct districts. The price per square meter increases with proximity to the sea, although the district’s average is 413 US. Antalya has districts like Konyaalti and Lara beaches, Kaleici old town, and Setur marina which attract a steady stream of tourists.
There are certain regions, however, where the average property price is low enough to afford a decent place to live. On the Turkish Aegean shore, it is known as Didim. Property buyers from the United Kingdom have long been drawn to the little town of Little Britain. There has been an increasing number of German Turks visiting the resort in the previous five years. Didim’s prices haven’t risen as much as in other regions of Turkey, despite the increased demand.
Meanwhile, Trabzon and Bursa, on Turkey’s northern shore, were late in modernizing their property markets, resulting in reasonable prices. Middle Eastern ethnicities primarily populate these two places due to their shared culture and traditions. Another area in Turkey where you might find affordable property is the Mediterranean Dalaman and Alanya’s Mahmutlar district. Both have significant future potential and robust tourism markets.
How Much Does Real Estate Property Management Cost?
As is the case with so many other questions, the answer is “it depends.” Property management firms come in a wide variety of sizes, and much of the solution is contingent upon the extent of the agreement. So it depends on what exactly you are looking for in a property manager. Any agreement that a property owner enters into with a property management firm is a delegation agreement.
A property owner may wish to assign specific responsibilities and activities to a property manager while highly involved in other areas. Another proprietor may choose a near-complete ‘hands-off’ attitude. The cost of property management services varies by location, property type, and the estimated number of person-hours needed to offer those services.
Buildings are like people; they age. So if you don’t want your home’s value to diminish, which you don’t, you should start planning now. Also, remember that some utility membership fees are required before you may enjoy your new Turkish house. In addition, if you decide to move in and live on your property, you must pay for a residency permit to stay lawfully in Turkey.
The type of property or structure care vary varies greatly. A conventional apartment building will be less expensive than a residential complex with a pool or gym. An elevator makes a difference. A single residence or a large residential complex, however, is a different story. Ascertain you are aware of all maintenance and repair costs linked with the property. A board of directors and, in some cases, professional teams oversee and maintain stable structures and substantial residential complexes. Fees and expenses are split evenly among owners. Depending on the property, these can range from $50 to $1,000 or more.
Foreigners, like Turkish citizens, can rent out their properties. Turkish Lease Law allows you to freely negotiate contract conditions and rental rates as long as you follow the rules. The rental time is unlimited and is paid in foreign currencies. Rents are adjusted based on the annual PPI.