Daily rentals of apartments, flats, and houses are regulated by Law No. 7464 "On the Rental of Residential Premises for Tourist Purposes." Short-term rentals are defined as rentals of up to 100 days.
The main requirement is a license from the Ministry of Tourism
To legally rent out accommodation on a daily basis, you must obtain a special permit (İzin Belgesi) from the Turkish Ministry of Culture and Tourism. Without this permit, daily rentals are prohibited.
A regular apartment tenant is not allowed to rent out the property on a daily basis and cannot obtain a permit. Subletting is illegal.
To obtain a license in an apartment building, written consent from all apartment owners in the building is required.
Requirements for the property
Once permission is received, the facility must comply with the requirements of the Ministry of Tourism.
Basic requirements:
- the presence of an official sign from the Ministry of Tourism at the entrance;
- compliance with safety standards;
- possibility of registering guests;
- compliance with the rules of residence in the residential complex.
Turkey also requires guests to submit their personal data to the police security system (GIYKIMBIL). This requirement already existed for hotels and official accommodation establishments.
Prohibition on renting out individual rooms
- it is not possible to rent out individual rooms in an apartment;
- Only the entire property can be rented out on a daily basis.
Restrictions for large investors
If the owner rents out more than 5 apartments in one building, additional requirements apply:
- company registration is required;
- a commercial license is required;
- the object can be recognized as a hotel business.
Fines for illegal daily rentals
Renting without a license – 100,000 Turkish lira
Continuation of activity after warning - up to 1,000,000 Turkish lira
In addition to fines:
- the activity may be prohibited;
- Tax audits are possible.
Income from daily rentals in Turkey is taxed at 15% above income of 58,000 lira per year.
The owner is obliged to:
- declare income;
- pay income tax;
- in some cases, register commercial activities;
- comply with electronic notification and accounting requirements.
Which properties are easiest to rent daily?
- complexes with pre-approved short-term rentals;
- apart-hotels;
- new investment projects where the developer has provided for tourist rentals.
The most difficult thing to get permission for:
- in ordinary residential complexes;
- in houses with conservative management;
- in old housing stock.
propertiesavailable for legal daily rental , but they are significantly more valuable to investors.
Standard apartments are only suitable for long-term rentals of 100+ days.
Because of this, it is now crucial to understand the rental strategy in advance when purchasing property in Turkey.
apartments, close to the sea and amenities, are suitable for daily rental 0+1 and 1+1. The apartment must be fully furnished for a "hotel-like" experience. The apartment must be prepared according to the INCOME MERSIN.
The income benchmark is 3,000–7,000euros per year with an object costing 35,000–50,000euros, and the profitability can reach 10–15% per annum.
Rates listed start from around €30 per night for studio apartments in the off-season, up to €100 per night for one-bedroom apartments in the high season.
What does this mean for the investor:
- Estimated ROI: 10% to 15% per year;
- payback period - from 7 to 10 years;
- This is a model for the most competent selection of an object and professional management.
Loading for such a model is typically in the range of 70–80% per year.
Owner's utility costs for daily rent
- Aidat,
- bottled gas (1-2 times a year),
- textiles and tableware as they wear out.
- Variable utility costs (included in the daily rent)
- electricity,
- water,
- Internet,
- gas by meter (if available),
- final cleaning of the apartment after moving out.
These expenses are deducted from the rent paid and after deducting the expenses, the resulting profit is distributed in the ratio of 30% to the Agency and 70% to the owner.
Agency commission for daily rentals in Mersin for:
- Marketing costs for finding tenants,
- check-in and check-out of tenants,
- registration of tenants,
- payment of variable utility bills,
- cleaning organization,
- apartment condition control,
- payment of taxes
for INCOME MERSIN is 30% of profit after deducting expenses.
The owner's income is 70% of the actual profit from renting out an apartment in Mersin.
Daily rentals in Mersin are one of the most profitable real estate investments when you choose your apartment wisely. With INCOME MERSIN, you can buy property in Mersin for daily rentals, receive professional property selection, and a well-developed rental strategy based on our company's extensive experience in sales and property management.
