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6 Important Things You Should Know About Renting Property in Istanbul!

Renting Property in Istanbul

Renting Property In Istanbul

Are you considering renting a house in Turkey? You probably have a lot of questions in your mind about renting property in Istanbul. No worries, you will have many questions answered after reading this page!

Also, if you want to buy an apartment for sale in Istanbul, you can check out the site.

How much money do I need to Live in Istanbul? How much does it cost to rent a flat? What are the Important things I should know about a rental contract? What expenses am I supposed to cover as a tenant? How can I rent a property in Istanbul very quickly? Here is the answer to these questions and much more.

How Much Money Do I Need?

Do you want to know how much money you need to cover the overall living costs in Turkey? It would be best if you considered these daily necessities:

  • Costs of renting property in Istanbul Transportation Cost
  • Food and beverage
  • Health

Considering all the daily necessities, we could say that a family could get a reasonable standard of living in Turkey with a monthly budget of 1,500 USD. For more information read this article (Assuming that the family does not have to pay rent.)

  • You can live happily in a city like Istanbul if you are paid above 60,000 TL monthly. 
  • You can have an average standard of living in Istanbul if you pay 35,000 – 60,000 TL monthly.
  • Living in Istanbul can be stressful if you make less than 35,000 TL monthly. In this case, renting a property in Istanbul might not be a good idea. However, you can still try renting a property in other cities. Why? Simply because expenses are a lot higher in Istanbul.No worries anyways! We are here to help you find the best property in turkey that suits your budget. 
  • The cost of living for a single employee in Istanbul is about 8,300 Tl. 

1. Should I rent a House In Istanbul or Other Regions?

Istanbul is a relatively nonexpansive city compared to other European cities. However, the costs of renting property in Istanbul are usually much higher than living in other cities in Turkey. Here is how much budget you need to live a happy life in Istanbul. No matter how much budget you have, we will do our best to help you find your ideal house to rent in Turkey. 

2. Which Neighborhood Is The Best For Me?

Turkey offers places you will love to visit and many exciting activities you will love to do. Choosing the neighborhood you want to live in is up to your lifestyle and the activities you like. Check some of our suggestions below:

  • Great Nightlife: Want to live in a neighborhood with great nightlife? Choose Beyoğlu! Turkey has a good nightlife overall, but this neighborhood is heaven for night owls and nightlife lovers. In Beyoğlu, you can enjoy all kinds of cafes, restaurants, clubs, and a lot more any time during the day or night. This neighborhood never sleeps!
  • Aesthetic: Want to live in an aesthetic neighborhood and watch interesting football games? Beyoğlu is the right place for you.
  • Full of Peace: want to have peace and comfort in your neighborhood? Choose Üsküdar! This neighborhood is excellent for people who want to avoid loud noises and overwhelming crowds in the city. This neighborhood will be a perfect choice if you live with older adults in your house. If you are a student and want to focus on your studies away from distractions, Üsküdar is the right choice.
  • Most Popular: Moda, Ataköy, Emirgan, Cihangir, Ulus, Tarabya, Sarıyer, Beykoz, Şişli, Beşiktaş, and Etiler are some of the most popular neighborhoods. If you are considering renting property in Istanbul, these neighborhoods can be some of the best options. Many foreign investors go to rent property in Şişli, rent property inBeşiktaş, rent property in Taksim, etc. 

3. How Much Does It Cost To Rent A Flat In Istanbul?

So many people immigrate to Turkey/Istanbul every year to start a new life. This city is the most crowded and most famous in Turkey. Because demands are high in this city, renting prices have also increased. Renting property in Istanbul is considerably more expensive than in other cities. That’s why we suggest you buy a property for sale in Istanbul and rent it! This way, you will have an excellent income through rental fees. Consider the fact that rent prices are increasing every day in Istanbul. Thus, buying a house in this city can be a significant investment. 

If you are looking for a property that suits your budget, we can help you. CityRealityTurkey can help you find the best options for your budget. 

renting property in Istanbul

4. What To Look For In A Rental Contract?

Reviewing the rental contract is one of the most important things to consider when renting property in Istanbul. Here are some essential things you need to know:

  • A rental contract should have the title deed information clearly stated. 
  • The time of payment and the rental fee should be stated clearly. 
  • The deposit needs to be determined. Always keep the deposit in a time deposit account. 
  • How was the house received? In what tenant status did you receive the house?
  • What happens if the tenant terminates sooner than expected? 
  • Legal agency information should be stated (only if the landlord is the legal representative of the property owner.)
  • The address of the house/property should be stated in the contract when renting property in Istanbul.
  • The signature of the tenant and the landlord should be present on all the pages of the agreement. 
  • Rental payment method information and also the bank account number should be provided. 
  • How much of the costs does insurance cover? Under what conditions the insurance amount would not be returned?
  • The exact amount of monthly rent should be determined.
  • The rent payment date of every month should be stated.
  • Is the rental fee supposed to get increased at the end of certain periods? In this case, the information should be stated in the lease. 
  • In what conditions is the landlord allowed to dispose of the insurance amount?
  • Does the tenant have the possibility to make any modifications to the property?

All the information above should be covered in a rental contract. Read the contract carefully and check for each and every one of these lines. Failing to make sure about any of the information above can get you in trouble later.

5. Who Covers the Additional Costs? Landlord or Tenant?

If the problem arises from the building, the costs of it should be paid by the landlord. (This is a law about renting property in Istanbul). For example, the expenses of paint, leakage, and siding are generally paid by the landlord. Although, there is another option to go for! The tenant can undertake such expenses, provided that they are deducted from the total rental fee. In this case, an agreement should be made between the landlord and the tenant. It is not necessary to state such issues in the lease, though. It could be resolved by mutual agreement. 

Situations requiring renovation in newly moved houses should be covered by the landlord. We suggest that you talk to your landlord about such necessary renovations (if needed) before moving in.

6. What Can We Do For You? (Renting Property In Istanbul)

City Realty Turkey is a professional real estate agency that helps you make the process as easy and fast as possible. Here are some of the services that we offer:

  • We Have The Knowledge

Buyers probably have an idea of what kind of home they want. But how will they find it?

Sellers might not be positive that the asking price of their property is comparable to other properties at the same level. How will they know it for sure?

That’s exactly how we can help you have the best experience of renting property in Istanbul! CityRealtyTurkey has unbeatable knowledge both in marketing and answering these questions. We have access to market trends, up-to-date listings, and sales data. That’s why we can recommend the best realistic prices for both buyers and sellers. This is how we can help you find a home that totally fits your vision and your budget.

  • We Help You Make Profit

 As a buyer, the number of bedrooms, the outdoor space, and such factors might grab your attention. However, a good agent can see beyond that in a house! Like what?

We can see the investment potential of a property and help you choose the house that makes a better investment option.

  • We Decrease Your Costs

We can help you find issues that you might not notice before moving into the house. We will find every leak, pest problem, mold or such necessary repairs. This way, you can become aware of such issues before moving in, and thus you can request the landlord to settle them. If you fail to find out about such necessities before moving into the house, it might cost you a lot of money which you will have to cover. The knowledge and experience of our team can save you a lot of money and energy!

  • We Know What Neighborhood Is Right For You

Your neighborhood is certainly one of the most important things you need to consider when renting property in Istanbul. Your neighborhood is the place you are going to live in for years, meet people, and grow up your children in. That’s why you should never underestimate the importance of choosing the right neighborhood. But you probably do not know a lot about different areas of Turkey. So, what’s the solution?

 We know everything about all the local neighborhoods in Turkey. We can help you become aware of the facilities, culture, situation, noise level, nightlife, etc., of different neighborhoods. That’s how you can choose your neighborhood wisely. You don’t have to spend so much time doing research about different neighborhoods. Just tell us a bit about your vision, and we will find you the best option for renting property in Istanbul!

  • We’ve Got The Negotiation Skills.

Anyone who thinks a property transaction is all about closing the deal is certainly wrong! The process involves so much more. A property transaction involves so many steps: making an offer, accepting the offer, completing inspections, and also timeframes of repairs are only some of the steps of this complicated process. The seller always wants to have the highest listing price, while the buyer always looks for the most reasonable price within their budget. That’s why every phase needs a certain level of negotiation.

  • We Do All The Paperwork

The paperwork that needs to be done for renting property in Istanbul can be quite overwhelming! Reviewing the documents involved in a property deal is nothing similar to reading and ticking the “terms and conditions” box! A real estate deal involves so many complicated documents that you need to review and fully understand. From the purchase agreements to legal documents and banking forms, there is a lot that you need to review and understand. Most people are not very familiar with this kind of paperwork. This, they are very likely to miss some vital information in the final print of the contract. 

In CityRealtyTurkey, we are totally familiar with all of the paperwork. Our team consists of experts with years of training and experience, and they can guide you through the paperwork. 

 We can catch any potential issues, correct them, and make sure repairs and inspections are completed. We will also work as a coordinator for all the parties to keep everything on schedule.

  • We Fasten The Process

We help you fasten the process of renting property in Istanbul as much as possible. With the help of CityRealtyTurkey, you can get the process done in the shortest time possible. What would usually take months can be done in a few weeks with the help of our experts.

Conclusion

If you are considering renting a property in Turkey, City Realty Turkey is here to help you. Check out our website for the best options with reasonable prices, and contact us for more information. 

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