Property Management
The Ultimate Guide to Property Management in Türkiye
If you are a homeowner in Türkiye, maximizing the profit from your property investment can be a challenge. That’s where property management services come in. Property management companies like Suite Global Estate offer a range of services to help homeowners not only increase their rental income but also handle the day-to-day affairs of operating a rental property. In this comprehensive guide, we will explore the advantages of property management in Türkiye, the services provided by Suite Global Estate, and how they can help you make the most out of your property investment. So let’s dive in!
The Advantages of Property Management
Better Tenants
Finding reliable and responsible tenants is crucial for the success of your rental property. Property management companies have the experience and resources to thoroughly screen potential tenants, ensuring that they pay on time and cause fewer problems. With Suite Global Estate’s tenant selection process, you can have peace of mind knowing that your property will be occupied by responsible individuals.
Higher Return on Investment
Renting out your property for short-term stays can significantly increase your rental income compared to long-term rentals. Property management companies like Suite Global Estate specialize in maximizing the return on investment for homeowners. By leveraging their expertise in the rental market, they can help you earn 60-100% more rental income than long-term rentals, making your property investment even more profitable.
Stress-Free Process
Managing a rental property can be time-consuming and stressful, especially if you are not located in the same area as your property. By partnering with a property management company, you can leave all the day-to-day operations and problem-solving to the experts. Suite Global Estate will handle everything from tenant communication to maintenance requests, allowing you to enjoy a stress-free experience as a property owner.
Flexible Schedule
One of the advantages of property management services is the flexibility they offer to homeowners. With Suite Global Estate, you can keep your property for personal use whenever you want, and let them take care of the management and rental process when it is available. This flexibility allows you to enjoy your property while still generating rental income during the times you are not using it.
Legal Arrangements
Navigating the legal procedures and paperwork involved in owning and renting out a property in a foreign country can be daunting. Property management companies like Suite Global Estate have in-depth knowledge of the local laws and regulations, ensuring that all the necessary legal arrangements are properly handled. By entrusting the legal procedures to the experts, you can have peace of mind and focus on enjoying the benefits of your property investment.
Services Provided by Suite Global Estate
Suite Global Estate offers a comprehensive range of property management services designed to maximize your rental income and provide a hassle-free experience as a homeowner. Let’s take a closer look at the services they provide:
Tax Tracking Service
After purchasing a property in Türkiye, there are certain taxes that must be paid to the government on a yearly basis. Suite Global Estate’s tax tracking service ensures that all the necessary payments, such as housing tax and mandatory earthquake insurance, are monitored and paid on time. With their expertise in tax regulations, you can rest assured that your property’s tax obligations are properly managed.
Utilities Subscriptions Service
Setting up and managing utility subscriptions can be time-consuming, especially if you are not familiar with the local procedures. Suite Global Estate offers a utilities subscriptions service, handling the submission of utility subscriptions such as electricity, water, natural gas, and internet service on your behalf. They will also follow up on monthly debts and ensure regular payments are made, saving you time and effort.
Leasing Services
If you are looking to generate rental income from your property, Suite Global Estate’s leasing services are designed to help you find suitable tenants and maximize your rental potential. They have a high level of expertise in the rental market, ensuring that your property is leased quickly and at a competitive rate. With their follow-up service, you can trust that your property will be well-managed during the leasing period.
Resale Services
Whether you purchased your property for investment purposes or to obtain Turkish citizenship, there may come a time when you decide to sell. Suite Global Estate offers resale services to ensure that you get an acceptable selling price for your property. Even if you purchased your property for citizenship application purposes (which requires a 3-year holding period), they will help you navigate the resale process and ensure a smooth transaction.
Frequently Asked Questions
While there are no specific conditions, properties in good locations and well-maintained are generally preferred. Suite Global Estate will provide you with a checklist of necessary materials and help you prepare your property for rental.
Once you express your interest, Suite Global Estate will arrange a meeting with you or your representative within a week. If everything goes well, your property can be incorporated into their property management system during the first consultation. The typical contract term is one year.
Suite Global Estate will transfer your rental income directly to your bank account via bank transfer. The overall income for the previous month is usually transferred between the 8th and 15th days of the following month.
Suite Global Estate keeps the keys securely locked in a safe area, with each key labeled with a barcode for easy operation. Your property’s keys will be handled with utmost care and security.
In the event that a tenant forgets to return the keys, Suite Global Estate will contact them and arrange for the keys to be mailed back. If the keys are not returned or are lost, the tenant’s deposit will be used to replace the keys.
As a homeowner, you have the flexibility to stay in your property whenever you want. However, Suite Global Estate requests that you leave at least 80% of the availability for rental purposes, unless there is a final reservation for specific dates that cannot be canceled.
Suite Global Estate recommends that homeowners insure their properties against risks such as fire, flooding, theft, etc. In case of any harm or damage, there are guarantees available through online platforms where your property is advertised. Suite Global Estate will assist you in the process of seeking compensation, ensuring that your interests as a homeowner are protected.
As the homeowner, you are responsible for all utility bills and other monthly expenses related to your property. However, if you provide Suite Global Estate with the necessary details, they can follow up on these payments and make them on your behalf through automatic payment orders.
Payments for property fees, taxes, and other financial obligations are the responsibility of the homeowner. Suite Global Estate can assist you in following up on these payments and even make them on your behalf if you provide them with the necessary authorization.
Conclusion
Owning a property in Türkiye can be a lucrative investment, but managing it effectively to maximize rental income and ensure a stress-free experience can be challenging. This is where property management services like Suite Global Estate come in. By partnering with Suite Global Estate, you can enjoy the benefits to find reliable tenants, increase your return on investment, and have peace of mind knowing that all the legal and operational aspects of your property are taken care of. With their comprehensive range of services, including tax tracking, utilities subscriptions, leasing, and resale services, Suite Global Estate is your trusted partner in property management in Türkiye. So why not take advantage of their expertise and make the most out of your property investment? Contact Suite Global Estate today and experience the difference of professional property management.