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Can I trust Property Management Agencies?

Discussion forum for expats moving to or living in Turkey.

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Can I trust Property Management Agencies?

Post Posted: Wed Mar 15, 2006 5:09 pm

Hi all,

I am currently looking at buying a second property as a buy-to-let investment. My target market will be short-term holiday rentals, and I am planning on hiring the services of a property rental management company. However a few friends have warned me about untrustworthy agencies that rent out properties without declaring the income to the property owner. I don’t want to fall victim to this scam.

Has anybody had this type of experience?
Is this a justified concern?
Can you recommend any trustworthy agencies?


Thanks

Andy

 

BigAndy
Regular Poster
Regular Poster
 
 
  
Re: Can I trust Property Management Agencies?

Post Posted: Thu Mar 23, 2006 5:04 pm

Hi Andy,
Tulip house investments is a estate agent &development company in Turkey-Fethiye.We do all sale after sale services and maintenance services.Already we have 7 clients who bought the peoperties and we do management of their properties here.We give quarantee for 4 months full rental and plus...if you like to contact us for further details mail us from info @ tuliphouseinvestments.com
www.tuliphouseinvestments.com

 

flynnerol
Newbie
Newbie
 
 
  
Re: Can I trust Property Management Agencies?

Post Posted: Fri Mar 24, 2006 3:34 pm

Please send these in private, this is not a channel for commercia advertising.

Moderator

 

jyrrays
Regular Poster
Regular Poster
 
 
  
Re: Can I trust Property Management Agencies?

Post Posted: Sat Mar 25, 2006 12:22 am

If the property is anywhere near Kusadasi, I will do it for you.

 

researcher
Frequent Poster
Frequent Poster
 
 
  
Re: Can I trust Property Management Agencies?

Post Posted: Tue Mar 28, 2006 4:58 am

Andy,

Let me warn you first that the Turkish gov is now checking closely on who rents property and does not file a personal income tax form in Turkey. By law if you rent property, you MUST file a tax return and pay the approx 25% tax on all rentals. The risk is:

1) tax agents are going around without notice, knocking on doors and asking the occupants to prove they are the owners;
2) if the occupants are not personal guests or owners, the owner will receive a court summons and a VERY BIG fine, plus interest that is around 50% / year. I know someone whose fine after 5 years was over GBP 600k!
3) Re property agents, some are honest and some are not. Ask around before you commit.

Good luck!

Icaru

 

Icaru
Newbie
Newbie
 
 
  
Re: Can I trust Property Management Agencies?

Post Posted: Tue Mar 28, 2006 1:21 pm

Thanks Icaru

 

BigAndy
Regular Poster
Regular Poster
 
 
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