In a bid to curb hovering rents, the Turkish authorities is ready to introduce stringent rules on short-term leases, just like trip rental reserving firm Airbnb.
The invoice submitted by the ruling Justice and Development Party (AK Party) to the Parliament on Tuesday seeks to mandate landlords to safe permits from the Culture and Tourism Ministry for such leases, Bloomberg News reported.
In addition, owners will probably be obligated to pay taxes, show a chosen signal on their property, and fulfill a payment requirement.
The proposal comes as residents have struggled to search out inexpensive properties on account of hovering costs, attributed to stubbornly excessive client inflation.
Annual inflation rose to greater than 61% in September, in accordance with official information, and is anticipated to rise additional towards the top of the yr.
Türkiye has prolonged a measure limiting annual lease will increase to a most of 25%, which was launched in June final yr, resulting in a serious surge in authorized conflicts between landlords and tenants.
Before the regulation, once-a-year worth hikes for current tenants have been capped on the common annual inflation charge over the previous 12 months.
To keep away from costly and extended authorized battles, owners have been more and more resorting to short-term leases by way of platforms like Airbnb.
According to Bloomberg, the proposed invoice categorizes leases lasting lower than 100 days as “tourism-oriented.” Under the draft laws, landlords and actual property brokers discovered violating these new rules would face a penalty of TL 100,000 ($3,600) per housing unit.
Source: www.dailysabah.com
