Over the time that we have been operating in Turkey YellAli has seen a significant increase in foreigners buying properties in Turkey either for holiday or investment. We have also seen and advised clients on a number of cases surrounding communal properties, the laws in Turkey are very specific and we have experts in this area who can assist you a steer you in the right direction.
Some things for property owners to be aware of :
When you own or rent a property in Turkey (concerning certain properties) you automatically become part of how the entire block or housing estate is run. This is known as 'Turkish condominium law'. Condominium law concerns private properties, businesses and other types of property where owners own a freehold share of the wider property or land.
Condominium law gives owners/renters legal rights to arrange/agree the management of shared areas, site maintenance, apartment rules, what needs to be done and how much it will cost.
To get started you will need to arrange an initial meeting and come together to decide who will be the association's manager or if a management company is preferred for this role.
Your next step is to obtain the necessary books (available from local stationers)1. (DEFTERI) - A book for the minutes of the meetings.
Please note: This should be taken to the Public Noter to be stamped and a certificate placed on the first page of the book.2. (ISLETME HESABI DEFTERI) – A book for keeping the accounts – the income and expenditure. 3. (GIDER PUSULASI) – Receipt books for issue of income collected or expenses paid.
At your first official meeting (at least 4/5ths of the owners should be present) a manager and treasurer should be appointed. Note: Please allow at least 15 days notice for the first meeting.
Please note all the decisions agreed in the minutes book and obtain the signatures (in the book) of all those who attended.Important:-