Revenues of residential complexes in Turkey

  • Created At: October 21, 2021
  • Updated At: October 21, 2021
  • Category: General
  • Views: 2088

When owning an apartment in Turkey, the buyer must realize that there are things that come after the process of buying and residing in the apartment, namely the returns that accrue to the owners of the apartments. The basic services provided by the management of apartments and residential complexes must have returns in order for these services to be in permanent continuity for the owners of these apartments. After completing the process of buying an apartment in Turkey, service fees for the maintenance of public facilities and common services must be taken into account. The maintenance fee is called AİDAT, which means revenue in Turkish. The fees are usually calculated in equal shares between apartments. But there are also some complexes that set a percentage of the revenue fees for each apartment owner depending on the size of his apartment. As owners of one-bedroom apartments pay less than owners of two/ three-bedroom apartments.

What are the returns?

It is the money received from tenants and apartment owners to cover the expenses of shared spaces in apartments and sites. The tenants and owners of apartments are also obliged to pay the monthly fees determined by the management of the apartment. The apartment fee schedule is prepared by the apartment management and shared with the tenants and apartment owners.

How much are the returns?

Of course, the value of returns is not fixed or unified for all apartments and residential complexes, as the value of returns varies according to the quality of the architecture or the residential complex. But in general, the value of the monthly revenues for regular buildings starts from 30 pounds and reaches up to 60 pounds (if there are no additional services in the building such as a gym or a swimming pool). As for residential complexes, the value of returns starts according to the number of square meters, and often starts from 12 liras per square meter.

The more developed the infrastructure of the housing complex, the higher the expenses and "aids". The largest part of the expenses is the salaries of the employees working on the site. If the complex is small, there can be only one ranger to take care of it. Residents can always ask him for help if a problem with the complex arises. Meanwhile, one concierge is not enough to take care of a large complex. Then more people are hired. It could be receptionists, gardeners, security, housekeeping, drivers, etc. Accordingly, labor costs will be higher and “aid” will also be higher.

Things to consider regarding revenue and construction commission

·        If someone asks you to pay the revenues, make sure you get a receipt for the payment. Consider the possibility of replacing the manager next year and that you should have proof of your payment on hand.

·        Pay the revenues directly to the manager or the building custodian, if authorized. Ask them to write the exact amount and the names of the months for which you are paying on the receipt.

·        To ascertain the amount of the revenues, ask for the minutes of the meeting and make sure that there is an additional amount for some repairs, so that the exact amount must be indicated in it.

·        Because foreign real estate buyers do not reside throughout the year, it is preferable to pay the amount once for each year in advance. And keep in mind that your late payment on time will result in late payment of construction guard salaries, bills, cleaning, pool maintenance on time.

·        In the event that the amount of the revenues is in the minutes, you are obligated to pay, and the manager has the right to follow up the debts through the competent authorities. So try to establish a good relationship with the manager and let them know when you will come to Turkey.

How is the value of revenues determined in Turkey?

The division of revenues is determined under Section 20 of the Floor Property Law. Where the relative distribution of returns is determined as follows:

50% for the staff.

25% for energy and maintenance resources.

25% to manage the complex.

These percentages do not differ regardless of the size of the complex, the number of independent parts in it, or the diversity of the facilities of the residential complexes and their public or social services, such as sports clubs and health facilities.

In the end, these fees are considered a routine procedure and are not a problem in themselves. Rather, they are low wages imposed by the administration of residential complexes, so that basic services for every person residing in these complexes continue. These services cannot be dispensed with, whether in the summer or winter. These revenues are not expensive compared to Istanbul's luxury apartments, as these revenues are considered very low.

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