If you are looking to invest in a property abroad and turn it into a money-making machine, then why not consider the potential of Turkey given that Sterling is so strong against the Turkish Lira right now.
With recent reports suggesting that you can now buy more TL with GBP this year than you could three years ago, the lure of buying an apartment and then renting it out is becoming more desirable.
Equally, if you have a property already bought in Turkey and you are finding the squeeze on your finances is becoming greater, it may well be advisable to look at renting out the property to create some hard cash.
Holidaying in Turkey has never been so popular with millions of people flocking in to see the sights and relax on the beaches. And one of the biggest draws is the ability to rent out diverse property
Obviously you’ll need to do some hard work and hard thinking – getting the property up to speck, how much will you need to rent out and carefully consider using a rental company to handle all the paperwork while you are back in your homeland.
Other options to look into are whether you are looking for a long-term steady income, or short-term, high-return lets with constant changeovers.
The Turkish coastal holiday season runs from April to the end of October, so you’ll have to consider the renting shortfalls in the winter months.
At TAM Property Management, they have bags of experience in delivering a professional service to clients from marketing and leasing; property and tenant due diligence; communications, tenant relations, and day-to-day management.
Rentals also carry other considerations such as the exchange rates and whether to accept payment into a UK or Turkish bank account; ensuring the property is fully insured against tenant damage and considering whether the rental price includes water and electricity bills.
TAM Property Management will handle the bank accounts, the registration of utility subscriptions, such as water, electricity and council taxes, and the registration of property tax id.
If property management is the route, then draw up a cast-iron agreement reflecting when monies should be paid on an agreed date and that management fees are agreed.
Through TAM’s sister company EV Apartments, they offer fully furnished apartments and extra services to make your stay a home away from home.
Renting out your property could well give you a major cash boost as long as you have all the necessary plan in place. To find out what TAM can offer you, give them a call on +90 212 252 32 64 or email: email@example.com