Now you've successfully completed the purchase of your holiday home and investment in Turkey, what comes next?
How do you make sure that your property in Turkey is kept in sound condition for you and your family to enjoy year in, year out? How do you ensure its return on investment is maximised via rentals and/or a future profitable sale? You know one thing for sure - if you look after your property well, it will appreciate in value and if you neglect it, it will lose its value before you know it. There is nothing like walking into a well presented and loved house that's well looked after and diligently maintained.
The following is not an exhaustive list, but a good overview of maintenance and management required for your new home in Turkey.
Property maintenance fees in Turkey are not expensive. You can get good value for money if you appoint the right company or individuals to take care of your property. Make sure you give the job to a company or individual(s) with proven track record in property management and maintenance. Do not just appoint someone because they seem friendly enough. Make sure they have credentials and the right experience.
If your property is located in a managed complex: you also have shared facilities and possibly shared pools with shared gardens, maybe even a restaurant and fitness centre. The costs for these facilities are borne by the property owners. The estate (the complex in which you are a shareholder and owner) generally appoints a management team to oversee complex management. The management team in the early years (first couple of years after completion of the complex - not a rule but a general trend) comprises of the development company and their services. They do this because they know that if the complex is well presented, they will have a greater chance at selling all remaining units speedily. So this arrangement works for both the developer and the buyers.
Such management and maintenance fees will generally be recorded in the purchase contract and is a share of total expected costs divided by the number/size of unit you own. For example, if you own a 2 bedroom apartment within a complex you pay a proportionate amount in comparison to other types of units in the same complex. If you own a 3 bedroom villa in the same complex, then expect to pay a little higher.
The management company will generally extend their services to provide individual management and maintenance to individual properties on the site upon agreement with the owners. So, you will be covered for shared facilities and private sections such as the points 1-5 above.
As a general guide:
Once the development company washes their hands of the project, it is up to the owners to appoint a third party management company. A management company is appointed and a contract is put in place for management and maintenance. These contracts are generally reviewed every other year, with fees determined in advance. The management company manages the shared facilities of the complex and not your individual property. Most property owners will take out a private contract with the same management company to maintain their own properties as well. Fees are similar to what is indicated above. If you rent out your property and require cleaning before and after, fees are generally in the region of Euro 30 for each cleaning. Say you achieve 20 blocks of rentals in a year and need to clean before and after, this is 40 cleans, so you are looking at around Euro 1,200 for running your rental cleaning and maintenance.
If your property is a private stand-alone villa: This will naturally mean your maintenance and management fees will be somewhat higher because you are contracting someone specifically to look after your property. Cleaning before and after rentals will be the same of course, that is if you rent your property, however, private management and maintenance of villas tend to be slightly higher, in the region of Euro 1500 - 1700 per annum.
Here we are referring to some very exclusive homes in Turkey with large private grounds and spacious living areas. Some of these homes come with separate maid's houses to accommodate caretakers. This may seem like a far fetched idea, however, in reality it is more than feasible. Some of these very private mansions in places like Bodrum, limited numbers of homes in Kalkan and Kas have gardens that are so large and living spaces that are so spacious they need constant attention. A live-in caretaker is the perfect solution for this. Not only will they care for the house but they will also help with cooking and other house duties. Live in caretakers are usually local husband and wife teams. You provide accommodation and a reasonable salary (Euro 6,000 per annum for the pair) in return for full home care, management, maintenance and security.
Our bespoke concierge service allows home owners in Turkey an easy way to care for and maintain their property. We take care of everything: from marketing your home to after-rental cleaning to ensuring you're paid on time. Read more about our dedicated concierge service here.