Whether residential or commercial, lease agreements in Turkey are challenging processes subject to legal laws and regulations; as a Turkish lawyer firm, we stand as your trusted legal guide at Istanbul Lawyer Firm, providing a comprehensive overview of lease agreements in Turkey. Our team of skilled legal experts combines in-depth knowledge of lease agreements with a broad grasp of Turkish law, ensuring that both the rights and interests of parties are secured. For this reason, we have gathered all the necessary information you need to know about lease agreements in Turkey in this article.
Key Elements of Lease Agreements
Lease agreements in Turkey involve several key elements. Some of these important factors are stated below.
- Within the scope of lease agreements, the parties are called the landlord or lessor and the tenant or lessee.
- The length of the lease, including the beginning and ending dates, is specified in the agreement.
- The rent amount should be clearly stated in the agreement.
Types of Lease Agreements in Turkey
There are several lease agreements in Turkey for different purposes involving different kinds of property or assets. The terms and conditions can change for each type of lease agreement in Turkey. For both lessors and lessees, understanding the specific regulations and requirements of the type of lease they apply is essential.
Rental of Movables
The rental of movables pertains to the temporary transfer of personal property or movable assets from a lessor to a lessee, often in exchange for periodic payments. Examples are equipment, consumer goods, and computer and IT equipment leases. In Turkey, renting movables offers a flexible and cost-effective way for people and companies to obtain essential assets without paying for ownership costs.
Rental of Immovables
In Turkey, the housing market is strongly shaped by the rental of immovables. These contracts make it easier to temporarily transfer ownership and enjoyment of immovable property like houses and companies. Both parties can benefit from a stable and secure environment provided by lease agreements that are properly drafted and follow the Turkish Code of Obligations.
Lease of Products
Products ranging from cars, computers, office furniture, and industrial machines to construction equipment are all covered by lease agreements in Turkey. In return for periodic payments, a lessor temporarily transfers equipment or goods to a lessee. This provides a strategic and economical solution for businesses seeking access to essential assets without the burden of ownership.
Terms and Conditions in Lease Agreements in Turkey
In Turkey, the legal contracts that specify the terms and conditions of renting a property or goods are called lease agreements. They regulate the relationship of the lessee with the lessor. The terms and conditions related to the rental of a property include a wide range of subjects in Turkey. These terms and conditions of lease agreements in Turkey help to protect the rights and interests of lessors and lessees. Before signing a lease agreement, both parties must read and comprehend these terms and conditions carefully.
Termination of Lease Agreements in Turkey
Terminating a lease agreement in Turkey includes several legal considerations, notice periods, and possible penalties. Landlords and tenants must know their legal rights and responsibilities under Turkish law and those specified in the lease, and consult a landlord and tenant lawyer. Due to reasons like violation of the terms of the lease, like not paying the rent and causing damage or selling the rental property, landlords have the right to terminate the lease agreement contract.
Tenants also may end a rental agreement with a set duration by providing notice at least 15 days before the expiration date of the agreement. Only after ten years of extensions may the lessor terminate the agreement by giving notice three months before the next extension year.
FAQ about Lease Agreements in Turkey
Understanding lease agreements in Turkey is essential for lessors and lessees to protect both the rights of parties and prevent potential disagreements in this field. For this reason, we have shared the answers to some of the most common questions below in this article. If you have more questions related to this and want to solve a legal case in this field, it is advised to consult a tax lawyer in Turkey. At Istanbul Lawyer Firm, we can assist you in this field with skilled and English-speaking lawyers in Turkey.
What is Article 347 of the Turkish Code of Obligations?
Under Article 347 of the Turkish Code of Obligations, ten years after the end of the rental lease agreement, the tenant may be evicted. Also, the lessor may request the termination of the agreement termination without providing a cause if the lease was signed ten years or more ago.
How Much Can Your Landlord Raise The Rent in Turkey?
In Turkey, rent increases are made by landlords once a year, usually on the anniversary of the lease. Generally, government laws determine the percentage that can be added to the rent, and it was announced as 25 percent in 2023.
How Much is Rental Income Tax in Turkey For Foreigners?
Rental income in Turkey is generally subject to income tax. In general, foreigners and Turkish nationals pay the same taxes. The tax rates are usually subject to changes in Turkish tax regulations and can differ yearly, and the yearly income determines the progressive tax rate.
You may reach our previous article from https://istanbullawyerfirm.com/blog/comprehensive-guide-to-importing-into-turkey