Rent Out Your Property in Istanbul: Letting Service for Foreign Owners

Yes, foreign owners can rent out property in Istanbul. Long-term leases follow the Turkish Code of Obligations No. 6098, while short-term tourism lets need a permit under Law No. 7464. Bosphorus Brokers values the rent from comparable lets, markets your property in several languages, screens tenants, prepares the lease paperwork with both parties and handles the handover, including for owners who live abroad.

Should you let long-term or short-term in Istanbul?

This is the first decision to make, because the rules and the workload are very different:

For most owners who live abroad, a long-term let is simpler to run. If you are considering short-term lets, first check whether a permit and the consent of every other owner in your building are realistic. Letting first and checking later is a common and costly mistake.

Letting a shop or office

The same Code covers roofed-workplace leases such as shops and offices. Business tenants will want to know that the zoning suits their use and that a workplace opening and operating licence (işyeri açma ve çalışma ruhsatı) can be obtained, and a company tenant brings withholding tax into the picture (see below). Retail leasing is one of our founder's specialties, and our commercial property service covers these lets in more detail.

What do we do for landlords?

We run the letting from valuation to handover, and you approve every key decision:

1. Rental valuation. We estimate the achievable rent from comparable lets in your building and neighbourhood, not from optimistic listings, and explain what would move it up or down.
2. Preparation and photography. We advise on repairs, cleaning and whether to let furnished or unfurnished, then photograph the property.
3. Listings in several languages. We market to local and international tenants in English, Turkish, French, Russian, Chinese and Arabic.
4. Tenant screening. We check identity, ask about employment, income and references and, for company tenants, the company details, then share our findings so that you make the final decision.
5. Viewings. We accompany every viewing, give you honest feedback from each one, and can run video viewings for tenants who are still abroad.
6. The lease contract. We prepare the lease paperwork with you and the tenant: rent and payment date, deposit, term, who pays the aidat and utilities, and house rules. We recommend a bilingual contract reviewed by an independent lawyer.
7. Deposit, inventory and handover. We arrange the deposit, record an inventory with photographs and meter readings, and hand over the keys.
8. Utilities. We coordinate moving the electricity, water, gas and internet subscriptions into the tenant's name and agree how the aidat will be paid.

Which rules should every Istanbul landlord know?

• Deposit cap: the deposit may not exceed three months' rent (Turkish Code of Obligations, Article 342).
• Rent increases on renewal: the annual increase may not exceed the 12-month average of the consumer price index, CPI or TÜFE (Article 344).
• Workplace leases: a tenant who wants to assign a workplace lease needs your written consent, which you cannot refuse without just cause (Article 323).
• Short-term lets: tourism stays of up to 100 days need a permit under Law No. 7464 and, in buildings with several units, the consent of all other owners.
• Insurance: DASK compulsory earthquake insurance is required for buildings, so keep the policy valid.

These rules change, so confirm them for your own lease. For evictions or disputes over unpaid rent, speak to an independent lawyer: these are legal matters, not brokerage ones.

What mistakes do landlords make in Istanbul?

• Letting short-term without a permit. Under Law No. 7464, unpermitted tourism lets face fines.
• Signing a Turkish-only lease. Use a bilingual contract so both sides know exactly what they agreed.
• Choosing a tenant on rent alone. A well-checked tenant at a fair rent is usually worth more than the highest offer.
• Skipping the inventory. Without dated photos and meter readings, deposit disagreements at the end of the lease are hard to settle.
• Asking for too large a deposit. The three-month cap in Article 342 applies.
• Leaving utilities in the owner's name. The bills, and any unpaid amounts, then stay with you.
• Not declaring the rent. Rental income is taxable in Turkey even if you live abroad.

How is rental income taxed in Turkey?

Rental income from property in Turkey is taxable in Turkey, including for owners who are not resident there. Individuals declare it in an annual income tax return, filed in March. When a company or business tenant rents a workplace from an individual owner, the tenant withholds 20% income tax (stopaj) from the rent and pays it to the tax office (Income Tax Law No. 193, Article 94). Keep records of the rent received and of any amounts withheld, since you will need them for the return. Allowances, expenses and the interaction with tax in your home country depend on your situation, so work with a tax adviser in Turkey. Our rental income guide and guide to property taxes in Turkey explain more.

Can you let your Istanbul property while living abroad?

Yes. Our letting service is designed to work remotely:

• We inspect and photograph the property on your behalf and send you the results.
• We arrange viewings, key collection and the handover locally, so you do not need to fly in.
• You review our screening notes and approve the tenant and lease terms digitally.
• Where you cannot sign in person, a notarised power of attorney, issued at a Turkish notary or a Turkish consulate abroad, can cover the steps you choose.
• We recommend that rent is paid by bank transfer, which gives you a clear record for your tax return.
• We send you the signed lease, the inventory and the meter readings, so your records are complete.

Once the tenant has moved in, you can handle contact yourself or ask about our property management service for ongoing help with the tenant, the building and maintenance.

What does our letting service cost?

Our letting and management fees are agreed in writing before we start, so you know exactly what you will pay and for what. See our fees page for how we charge, and ask us for a written proposal for your property. It sets out what is included, such as marketing, tenant screening, the lease paperwork and the handover, and what ongoing management would add, so you can compare the options. An initial consultation costs nothing, and we charge foreign owners exactly what we charge Turkish owners.

Why do foreign owners let with Bosphorus Brokers?

• Licensed. Authorised by the Republic of Türkiye Ministry of Trade, license no. 3408704, with an office in Şişli.
• Founder-led. Burak Ünal, whose specialties include property management and retail leasing, advises personally in English, Turkish and French.
• Evidence-based rent advice. Comparable lets, read with a finance background (MSc in Finance, London School of Economics).
• Six languages. Our team works with owners and tenants in English, Turkish, French, Russian, Chinese and Arabic.
• Built for owners abroad. Online updates, digital documents and power of attorney where needed.
• Rated 5.0 on Google.

Thinking of selling instead? See our selling service, or read the full guide to renting out property in Istanbul.