Surely you have heard of this term before, especially if you have bought a property in Turkey, but we are keen to make information about real estate in Turkey clear, but before you buy apartments in Turkey.
Monthly returns profits .
What are the monthly returns? Who is paying the rent, the tenant or the owner of the apartment?
What happens if the apartment resident does not pay the monthly returns?
How much is the profits of residential and real estate projects in Turkey?
First: What are the monthly returns profits ?
It is a sum of money paid monthly in exchange for periodic services provided by the project-based entity, such as external electricity, swimming pools, gyms, and electric elevators, and in return for periodic maintenance of these services.
The entity in charge of the project pays these revenues as monthly wages to security guards, cleaners, and staff of the complex in general.
It is important to know that there is no fixed number of monthly returns, as you may find a housing project whose monthly returns are very low compared to the returns of a complex next to it.
The owner of the apartment is informed before signing the contract of the value of the monthly returns, as it has become a prerequisite within the complex.
The value of returns varies based on several factors that will be mentioned later in this article.
Second: Who pays the monthly returns?
All material relations are based on a textual agreement between the two parties, but we are talking about logic and the majority.
The tenant is the one who pays the monthly returns to the complex, because he is the one who benefits from them in the end, as he is the one who benefits from security, gyms and swimming pools.
Therefore, we can generalize that the tenant is the one who pays the value of the monthly returns to the complex.
Third: What happens if the apartment resident does not pay the monthly returns?
If the tenant doe not pay the value of the monthly returns for more than a month,
then the administration of the complex imposes a financial violation on the tenant who must pay it, and if he does not respond, the administration of the complex has the right to cut off services to the tenant, including electricity, water and gas.
Of course, it is forbidden to benefit from the services of swimming pools, iron halls, etc.
But if the tenant completely refuses to pay , the last step taken by the administration
of the complex is to sue the tenant legally with the judicial departments and the court.
Fourth: What is the profits of residential and real estate projects in Turkey?
The value of the monthly returns varies according to several factors, most notably:
The area where the complex is located
How many services are available in the complex?
The quality of services provided by the complex.
The area of the apartments.
The value of the monthly returns is calculated in meters. Meaning (a sum of money for every square meter).
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