Principles, the monthly flow, the calendar, and what we do when something goes wrong.
The principles we work by, how money moves during the month, the calendar from contract to annual tax return, and our standard procedure when a problem comes up. We would rather you knew every detail before deciding.
How we work
One key, the entire operation.
We manage rental homes across Istanbul. From tenant placement to tax filing, from monthly collection to eviction proceedings, the whole process runs under a single contract, and every month you receive an owner statement.
Transparent pricing
Our management fee is a fixed percentage of the rent collected each month. No hidden charges; every line item is published on this site.
No collection, no fee
Our monthly management fee is charged only on rent we actually collect. No rent in a given month, no management fee for it. The one-time setup fee and tenant-placement fee are separate and stated up front.
Single point of contact
Contractors, the insurance agent and our partner law firm are all coordinated through us; the tax return is handled by our own team. The tenant comes to us too; you deal with us and no one else.
Strict tenant screening
ID, income, employer confirmation, references and the credit and enforcement records the candidate supplies are standard. Finding the right tenant upfront is always easier than evicting the wrong one.
Legal safeguards
In Turkey, evicting a tenant can take years. During the contract process we secure a guarantor and other preventive measures, and after handover a separate eviction undertaking, to minimise this risk from day one. Neither guarantees possession; they shorten the legal route.
Decided together
Rent levels, annual increases and major operational decisions are always discussed with you. We never take those decisions without your approval; the small urgent repairs you authorise in the contract are the one exception.
Monthly money flow
The same five steps every month, and each one shows up as a line on your statement.
From the moment the contract is signed, the same predictable flow repeats every month. Money movement and how and when our management fee is deducted are clear from day one.
Payment scheduleEvery month, on schedule
Start of month
Rent is requested
On the rent day set in the lease, the rent is requested from the tenant; it is paid into our authorised collection account if you have given us written collection authority, and directly to you if you have not.
Start of month
Property expenses are paid
Building dues, tax, insurance and minor maintenance payments are made.
Before payment
Management fee is invoiced
Our management fee is invoiced by e-invoice. No rent, no fee.
Payment day
Wired to you
After the deductions set out in the contract and any expenses you have authorised in advance, the balance is sent to your account; if you prefer, it can be converted and sent to your account abroad.
Payment day
Monthly owner statement sent
The monthly owner statement (PDF) is emailed to you: rent collected, service fee, VAT, approved expenses and the net amount sent are each shown separately.
Two collection models
The package sets what the service covers; the model sets which account the rent lands in. The choice is yours, and it neither narrows nor widens the package you have chosen.
Collection through StayIstanbul
If you would rather we collected the rent
Under written collection authority, the tenant pays the rent into the designated account and the collection is recorded on your behalf
The package’s management fee and VAT are invoiced to you
Deductions set out in the contract and expenses you have authorised in advance are taken out
The balance is sent to you; the statement shows each item separately
Payment direct to the owner
If you would rather receive the rent yourself
The tenant pays the rent directly to you
You share the collection and payment details with us
The package’s service fee and VAT are invoiced to you
You settle that invoice; the scope of the package does not change
Working calendar
From contract to annual tax return: what happens when.
The calendar below is the standard flow; there may be details specific to your property. From the day you sign, you know which step comes when.
Days 0–3
Signing the service contract
The management contract between you and StayIstanbul is signed, the setup fee (if any) is collected and the property file is opened. For owners abroad, the power of attorney is arranged through the Turkish consulate where you live.
Days 3–7
Taking over the property
We visit the property; the inventory of furnishings is drawn up and photographed, and meter readings are recorded. Professional photography is scheduled. DASK, building dues and tax status are checked.
Weeks 2–4
Listing and tenant search
The market price is set and approved by you; the listing goes up on Sahibinden, Hepsiemlak, Emlakjet and international portals. Interviews and viewings begin.
Weeks 4–6
Tenant placement
The chosen candidate is fully screened, then you approve. The notarised lease is signed and the guarantor documents secured; the eviction undertaking is executed on a separate document after handover of the premises, as the law requires for validity. The deposit is collected, the move-in inventory is prepared and the tenant moves in.
Every month
Standard monthly cycle
Within the month, the five-step money flow repeats: rent request, expense payments, management fee e-invoice, wire transfer, monthly owner statement. Tenant requests are dealt with without delay.
Every 6 months
On-site inspection
The property is visited on a date agreed with the tenant. Anything that will need maintenance is noted, and a photographed condition report is sent to you.
End of month 12
Annual lease renewal
Sixty days before the lease ends — our own working schedule — the increase is calculated from the statutory CPI rate and comparable market analysis, sent to the tenant with your approval and negotiated. By law, a fixed-term residential lease renews for a further year on the same terms unless the tenant gives notice at least fifteen days before expiry, and the landlord cannot end it on the ground of expiry alone (TBK Art. 347/1). The new-term lease is signed; if the tenant leaves, the search for a new tenant begins at no extra charge.
Every March
Income tax return
Our team prepares the annual rental income tax return; it is filed with your approval. Property tax is paid in the May and November instalments; DASK and home insurance are renewed every year.
If something goes wrong
What we do in these situations.
In property management, not everything goes as expected. This is our standard procedure for the four most common situations; every step that touches your money or a legal process is taken with your approval.
If the tenant pays late
The delay is chased from day one and our legal team starts the collection steps straight away; you are kept informed at every step. The day numbers below are our own working schedule; the statutory period is the minimum thirty days the notice has to grant (TBK Art. 315).
Day 1Reminder message.
Day 3Phone call, reason established, payment plan proposed.
Day 7Formal notice through a notary or the law firm, with your approval. The notice grants at least thirty days and warns that the lease will be terminated if payment is not made within them; the period starts the day after the notice is given (TBK Art. 315).
Day 14We recommend enforcement proceedings; if you approve, the process begins.
After the period expiresIf payment still does not come, we assess with your approval either enforcement proceedings for the arrears and eviction through enforcement, or an eviction action. Mediation is a condition of suit before an eviction action (Law No. 6325, Art. 18/B); the enforcement route without judgment is excluded from it.
No monthly management fee is charged for a month in which rent is not collected. Legal work is carried out by our partner law firm; in Hand Over the Keys the lawyer’s fee for collection proceedings is covered by the management fee, and in the other two packages it is passed through at cost. Court fees and expenses carry no markup.
For urgent damage (water leak, electrical fault, door and lock) we act without delay.
Up to 2,500 TLIf authorised in advance in the contract, carried out without waiting, then reported with photographs.
Over 2,500 TLYour approval first, then the work is done through our vetted contractor network.
If caused by the tenantDeducted from the deposit first.
If the deposit does not cover it, you choose between two options: enforcement proceedings or negotiation with the tenant. Invoices and warranty documents are kept in your property file.
The terms of an early exit are assessed under the Turkish Code of Obligations and the lease itself.
Rent still dueIf the tenant leaves before the end of the term, rent remains due for the reasonable period needed to re-let on similar terms (TBK Art. 325); it ends earlier if the tenant finds a suitable replacement. The law gives no number of days or months for that reasonable period; the court sets it on the facts.
Without delayWe start the search for a new tenant at once to shorten that period.
Vacant daysWe plan to recover the rent for the days between move-out and the new move-in from the outgoing or the incoming tenant.
You are kept informed at every stage of the process.
You can end the service contract at any time, with one month’s written notice and without giving a reason. There is no minimum term; whether you stay should depend on the work, not the contract.
On termination, your property file, all contracts, tenant details and financial records are handed to you in full. If a lease is in progress, you continue directly with the tenant until the end of its term.
Is this for me?
Your property is in Istanbul. You are somewhere else.
I own a property but I don’t want to deal with tenants. What if the tenant stays for years and my rent falls below market? If these worries sound familiar, you’re in the right place. Below, each worry has an answer: who does it, in what order, and with whose approval.
None of this requires you to come to Turkey.
Power of attorneyDo I have to come to Turkey for the contract and the power of attorney?+−
No. The power of attorney is issued at the Turkish consulate in the country you live in; we guide you step by step on which documents you need and where to get them.
Wire transferWhen, and to which account, does my money reach me?+−
Every month, on a regular schedule, to your account in Turkey; if you prefer, it can be converted and sent to your account abroad. The exchange rate and any bank charges are set by your bank on the day.
Collection accountWhy should my rent land in your account first?+−
It doesn’t have to. If you give us written collection authority, the tenant pays the rent into our authorised collection account and the collection is recorded on your behalf; if you would rather not, the tenant pays you direct. The choice is yours.
Late rentIf the rent is late, what can I do from here?+−
The delay is chased from day one and our legal team starts the collection steps straight away: contacting the tenant, written notice, a notarised formal notice where needed, and enforcement proceedings. In Hand Over the Keys the lawyer’s fee is covered by the management fee — you are not billed separately for it when we chase unpaid rent. Charges paid to third parties, such as court and service fees, are separate and passed on with their receipts.
Legal safeguardsIf the tenant won’t leave, eviction takes years — who runs that case from here?+−
That is why the guarantor is secured during the contract process and the eviction undertaking is executed on a separate document after handover — the law requires the undertaking to be given after the premises are handed over (TBK Art. 352/1). Neither is a guarantee of possession: they shorten the route, and enforcement proceedings or an eviction action are run on your behalf.
Lease renewalOver the years my rent falls below market; who raises it, and on what basis?+−
The new rent is calculated 60 days before the lease ends — our own working schedule — from the statutory CPI rate and comparable market analysis, then negotiated with the tenant with your approval.
MaintenanceIf a pipe bursts at night, who goes, and who approves the bill?+−
The request comes to us: urgent jobs up to the 2,500 TL limit you authorise in the contract are done without waiting, and nothing above that starts without your approval; the work goes through our vetted contractor network.
Tax and deadlinesThe tax return, property tax, DASK, building dues — I can’t track them from here; the penalty lands on me.+−
Our team prepares the annual income tax return; property tax, DASK, home insurance, building dues and the utility transfer are all on our calendar.
VisibilityI haven’t seen the flat in months; how do I know what state it’s in?+−
The property is inspected twice a year with photographed condition reports; those reports, your monthly statements and the documents are kept in your property file and shared with you.
Tenant turnoverIf the tenant leaves, does it all start over again?+−
It does start over, but not for you to handle: listing, screening, the notarised lease and the move-in inventory run again under the same contract.
Answers describe Hand Over the Keys, our most comprehensive package; which task sits in which package is listed line by line on the Packages page.
I live abroad. Do I need to come to Turkey for the power of attorney?
No. The power of attorney is issued through the Turkish consulate in the country you live in; we guide you step by step on which documents you need and where to get them.
If we are collecting, the rent is paid into our authorised collection account; building dues, taxes and any maintenance you have authorised in advance are paid from it. The balance is sent to you every month, on a regular schedule; if you want it converted and sent to your account abroad, we prepare the documents the bank asks for. The exchange rate and any bank charges are set by your bank. The monthly owner statement is available in Turkish, English or Arabic.
If the tenant doesn’t pay, do I pay a fee that month?
No. The management fee is calculated only on rent actually collected that month; if nothing is collected, no fee accrues. All three packages work by this rule.
What is the difference between the two collection models?
In the first, under written collection authority the tenant pays the rent into our authorised collection account and the collection is recorded on your behalf. The package’s management fee and VAT are invoiced to you; after the deductions set out in the contract and any expenses you have authorised in advance, the balance is sent to you. In the second, the tenant pays you directly and you share the collection details with us; the service fee and VAT are invoiced to you and you settle that invoice. The choice is yours, and the model does not change what your package covers.
When something breaks, who decides, and at what cost?
All maintenance requests from the tenant come to us. Urgent jobs up to the 2,500 TL limit you authorise in the contract are carried out without waiting and reported with photographs; there is no separate coordination charge. Above that limit we get your approval first, then the work is done through our vetted contractor network (plumbers, electricians, appliances, HVAC, locksmith). Maintenance coordination is included in the Hand Over the Keys package.
How long is the contract, and how do I leave if I want to?
You may terminate the service contract at any time, with one month’s written notice and without giving a reason; there is no binding term. On termination, your property file, all contracts, tenant details and financial records are handed over to you in full; if there is a lease in progress, you continue directly with the tenant.
How long does it take to find a tenant?
In central districts such as Şişli and Beşiktaş, our average time to place a tenant in a one-bedroom flat is 14–28 days. That is an average, not a promise: it depends on the property’s condition, where the rent sits against comparables, and the season. The market pricing analysis before listing is the first step that shortens it.
No. We manage long-term residential tenancies only; leases run for a year and renew with the statutory CPI increase. The one exception is a furnished mid-term tenancy of more than one hundred days at a time (roughly four to twelve months), which we assess as an option in the Hand Over the Keys package. A letting of up to one hundred days counts as tourism letting under Law No. 7464 and needs a permit from the Ministry of Culture and Tourism, the unanimous consent of every unit owner in the building, and a plaque at the entrance (Arts. 2 and 3); we do not do daily or weekly lets. Staying above one hundred days is not a blanket exemption: if the same home is let more than four times within a year of the first contract, an administrative fine applies (Art. 4(1)(g)). We therefore also track how many times a home is let within a year on mid-term contracts.
No. Rent guarantee is a separate insurance product in this sector; we don’t offer it. Instead we reduce the risk from the start: strict tenant screening, a guarantor, an eviction undertaking executed after handover, and day-by-day follow-up on delays. In a month when rent is not collected, our fee doesn’t accrue either; our interest runs in the same direction as yours.
First-pass filtering through the listing, interviews and property viewings. The assessment of the chosen candidate then runs on documents the candidate supplies: ID, proof of income, confirmation of employer, calls to the referees the candidate names, the candidate’s own Findeks credit report — or the sharing consent they give through Findeks — the record of enforcement files they obtain from e-Devlet, and their rental history. Because these are directly related to concluding the lease, they are processed under Art. 5(2)(c) of the Turkish data protection law; we do not ask for a separate consent tick-box. We do not look up anyone’s records unless the candidate shares them: as a third party we have no access to enforcement or credit registers. The result is shared with you; with your approval the notarised lease is signed, the deposit is collected and a photographed move-in inventory is prepared.
Twice a year — every six months — the property is visited on a date agreed with the tenant. Anything that may need maintenance is noted and a photographed condition report is sent to you. Reports are kept in your property file.
If the tenant doesn’t pay, how does the process run day by day?
Our legal team steps in from day one: a reminder goes out, we find out why and propose a payment plan; if the delay continues, a formal notice is served through a notary or the law firm with your approval. The notice grants the minimum thirty-day period the law requires and warns that the lease will be terminated if payment is not made within it (TBK Art. 315); that period starts the day after the notice is given. If payment still does not come, then — after the period expires — we assess with your approval either enforcement proceedings for the rent arrears and eviction through enforcement, or an eviction action. Before an eviction action is filed, applying to a mediator is a condition of suit (Law No. 6325, Art. 18/B); the enforcement route without judgment, for rent arrears and for an eviction undertaking, is expressly excluded and starts directly at the enforcement office. The day numbers are our own working schedule; the only statutory period is the thirty days in TBK Art. 315. You are informed at every step. The lawyer’s fee is set in a written agreement and may not fall below the Turkish Bar Association’s Minimum Legal Fee Tariff (Advocacy Law Arts. 163 and 164(4)); in Hand Over the Keys we bear that fee and it is covered by the management fee. Court, service and enforcement charges paid to third parties are separate and passed on with their receipts.
For furnished stays of more than one hundred days (roughly four to twelve months), a property can yield higher rental income. In the Hand Over the Keys package we assess this as an option and provide the analysis and advice.