Long Term Rentals in Turkey
There are many reasons why more and more people are looking for long term rentals in Turkey . Maybe to escape the dreary weather in their home country for six months or so, sometimes to spend a year or so before deciding whether to buy in Turkey, or possibly to look for work and relocate permanently.
Whichever the reason, we have seen that the number of enquiries for long term rentals in Turkey has been steadily increasing over the past years and that supply no longer meets demands.
This could be due to a number of factors, and more recently the 'credit crunch' has determined that countries outside of the EU are not suffering from a recession as badly as those within it. The currency exchange between £ and Euro also affects where people look for long term rentals, property to buy and even holidays and the Turkish Lire is still holding its own.
The cost of living in Turkey is low and the climate mild during winter, and those people previously looking at Spain or France to escape cold wet weather, are now considering renting long term in Turkey and other non European destinations instead.
Many owners prefer to hold out for the higher incomes they can receive in the summer, wanting only to rent long term between October and March. However, as the number of holiday properties increase, the likelihood of each individual owner filling high season periods decreases.
Until recently, it has been mainly the Turkish property owners who prefer long term rentals - guaranteeing themselves a year round income, whilst the British owners who generally like to use the property themselves, prefer short term holiday lets. However, trends are changing and we are now seeing an increase in foreigners renting out their properties on a long term basis. Nevertheless, there are still not enough properties available on a long term rental basis to go around.
Those looking for long term rentals in Turkey can pay as little as 350 YTL (£150) per month for a one bed apartment, 500 YTL (£215) for a 3 bed apartment or 700/800 YTL (£300 - £340) for a 3 bed villa. *Note - These prices are based on Turkish owners prices, foreigners in general charge a little more*.
If you are looking for a property to rent long term in Turkey, please contact us with your requirements and dates.
Villas with private pools available on a long term rental basis are still few and far between as owners are still guaranteed high rents for them in the summer, especially since this year tourism figures for Turkey rose above many formerly popular European destinations. Turkish owners will often make villas with private pools available, but they can tend to be away from the busy resorts as this is where the Turkish prefer to buy.
It may seem a very romantic notion to live in a secluded villa inland or a traditional Turkish village, collecting wood to light a real fire at night, listening to the local wildlife as dusk falls and the cockrell crow at 4am, but in reality the novelty soon wears off as it often not practical for day to day living, especially if you don't speak the language.
Some people take on a long term rental in Turkey with the intention of finding work and living cheaply, arriving with very little savings. Many have to leave before the end of the contract as although it is not difficult to find work, being outside of the EU does not give you the same rights and it is extremely unlikely that you will get a work permit with your job. You should also bear in mind that you can only visit on a 3 month visa which will need to be renewed before that period runs out. This means that you have to leave Turkey and re-enter, or pay for an extended visa. People working without a work permit run the risk of being deported and fined, and those that employ them are also likely to incur high fines.
Relocation is a big step, and looking for the right property is a major consideration. It is sad to see those who had high hopes when first arriving having their lives made miserable by moving into unsuitable accommodation. It can completely change your outlook of life in Turkey - whereas things can look very different when you are happy in your surroundings. Once you have signed a contract, if you vacate before the end of that contract, you will lose your deposit - which is usually 2 months rent up front, so it is not so easy to just move on - that's if you can find somewhere to move on to!
If you have a property that you are considering to rent long term or for holiday lets, or require the services of a property management company or cleaners, please contact us and we can offer advice on the best local companies to use.
Long Term Rentals in Turkey