What do you know about returns in residential complexes
When buying a house in Turkey, knowing the price and physical characteristics of the house is not enough. It is also very important to learn the monthly expenses of the house to be purchased, such as dues, and what is included in this fee. Because the dues are a monthly paid fee and are a legal responsibility. Particularly in large housing complexes, dues prices can be quite high. For this reason, it is useful to question and learn about them while buying a house in Turkey.
Mass housing estates and large housing complexes are also increasing in cities growing with intense population growth. With the growing housing complexes, the need for professional site management has become inevitable. When the need for security, social areas, and increasing common expenses became difficult to manage, the need for professional site management increased considerably. While in the past the housing estates were smaller and the number of residents was less, the manager was chosen among the residents, today the need for professional management has arisen.
What do you know about returns in residential complexes?
Professional site management is a type of service that has become a necessity in modern societies that meets the needs of the residential complexes, regulates human relations, and follows financial requirements, based on the understanding of professional management in housing complexes, and the rule of law. Those who buy flats in a residential complex in any province of Turkey agree to abide by the site management rules as soon as they sign the deed. The site management law is regulated by the 634 articles of the property law, and it is a legal responsibility to pay the fee determined by the site management.
Professional site management is responsible for creating a clean, well-kept, and safe living space for residents living in the housing complex. The site management, which has become a necessity in the sites built as a minimum of two blocks, provides services such as security, maintenance, renovation, repair, cleaning, garden maintenance, elevator maintenance, tracking of common expenses, and dues.
The fee is the service fee received from the flat owner or tenant to meet the monthly or annual common expenses (cleaning, common bills, maintenance, security, etc.) of the sites. The needs in residential complexes are higher than in small apartments. Services and expenses such as the number of entrance doors of the residential complex, the security at these doors, staff salaries, cleaning of common areas, technical maintenance, landscaping, and elevator maintenance are covered by dues payments. Tenants are also obliged to pay dues for the flat they live in.
The foreigner who buys an investment flat in Turkey is obliged to pay the fee determined by the professional site management, even if he/she does not live in that flat. Flat owners who do not fulfill this obligation may be subject to enforcement proceedings. If flat owners or tenants do not pay the dues they are obliged to pay, delayed compensation is applied. If it is still not paid, legal proceedings and enforcement proceedings are initiated against the flat owner or tenant.
In Turkey, the site fee is calculated in two ways. General expenses are calculated on a monthly or annual basis and divided by the number of flats. Thus, the amount to be paid per flat is calculated. Professional site management makes the necessary calculations in line with their annual plans and determines the new fee.
According to the results of the research covering all districts of the city in Istanbul, the highest dues are paid in Kadikoy, Beykoz, Sariyer, Basaksehir, and Esenyurt, while the lowest dues in Istanbul are paid in Fatih. The reason for this difference is that while there are luxury residential complexes in districts such as Kadikoy, Beykoz, Sariyer, Basaksehir, and Esenyurt, there are small apartments without social facilities in Fatih.
Privileges in Luxury Residential Complexes in Istanbul
Residential complexes in Istanbul are places that are designed with great care and provide great advantages in terms of livability. The residential complexes in Istanbul provide many advantages to their residents. These complexes, which were built in very large areas, contain many luxury social facilities. Foreigners, especially Arabs, who are considering investing in Istanbul, attach great importance to the social opportunities on the site. Just as each residential complex in Istanbul has different professional site management, these administrations also have different practices. In some residential complexes, all use of social equipment is included in the dues, while in some residential complexes, the use of social equipment such as gym, spa, and the pool is not included, and an extra fee must be paid for their use. Exclusive social reinforcement areas and services in residential complexes in Istanbul:
- Security
Security is one of the most important needs in Istanbul, one of the largest metropolises in the world. Residential complexes in Istanbul have advanced security systems supported by the latest technology. All sites are monitored with 24/7 security cameras and there is separate security personnel in each building. In addition, extra equipment such as fire alarms, fire extinguishing systems, and smoke detectors on the sites makes the residents feel safe at all times.
- Luxury Social Facilities
In most of the large residential complexes in Istanbul, there are many facilities such as sports fields, playgrounds, swimming pools, spa services, and gyms. Children's playgrounds, which are of great importance, especially for families with children, are located on almost every site.
- Indoor Car Parking
One of the most important areas of large residential complexes is the parking garage. There is also a guest parking area in the sites built in such a way that at least one parking space is available for each flat.
- Luxury Residence Services
There are all luxury services you may need, such as valet, car wash, concierge, cleaning, reception, and technical service. These services greatly increase the living comfort of the residents.
Foreigners who are considering investing in Turkey should definitely research the apartment dues and get information about the dues regulation before purchasing real estate. When a house is purchased on sites that are under construction and the fee is not known, they are deemed to have accepted to pay the fee to be determined on that site. Getting professional support will provide great advantages when investing or buying a house in Turkey. In this way, you will get professional answers to all questions such as what the legal obligations are waiting for you, and what should you do when buying a house. Diyar Turk Real Estate is always ready to assist you in your investment process in Turkey with its professional team.
Please do not hesitate to ask any questions you may have. You can contact us via our website or info@diyarturk.com e-mail address.
