Property Management

Submit a Municipal Tax Declaration to the municipality after purchase of apartment (maximum until the end of the year of purchase)
Pay the annual municipal tax (first installment in 5/31, second one in 30/11) It amounts to 3 per thousand of the value of the property.
Submit the Capital Revenue Tax Declaration (in case of rent) from 1 - 27 March
Pay the annual rental income tax (first installment in 3/31 and the second 7/31). The tax segments and exclusions change each year, but it ranges from 15 - 20% of the taxable amount.
Establish obligatory earthquake insurance (necessary for establishing electricity and other services for the first time) approximately 2TL/ m2
Take the apartment pictures, advertise, and respond to the offers received from the potential tenants.
Organize and sign the Rental Contract (needs a power of attorney) and hand the keys to the tenant.
Ensure that rents are collected
Follow up of legal procedures in the case of late rents (needs a power of attorney).
Apply the annual increase of the rental amount and inform the tenant accordingly.