What is Deposit Concept in Turkey? How much should Deposit Amount be? - Izmir Estate

What is Deposit Concept in Turkey? How much should Deposit Amount be?

There may be damages that may occur in the case of renting immovable properties such as residences or workplaces. The deposit is expressed as the money or valuable papers requested by the landlord from the tenant in order to secure these losses. So is the deposit refundable? In which cases does the deposit not be returned to the tenant? Here we have compiled the answers to all these questions you are looking for about the deposit…

You have found a house or workplace that meets your criteria and fully meets your expectations, and you have decided to rent it. The landlord will demand another payment under the name of a deposit, together with the rent, during the first rental process of the real estate. So what is this deposit and how much is it? The deposit is requested for the purpose of guarantee against any damage that may occur during the evacuation of the real estate. According to the Code of Obligations, this fee cannot exceed the maximum 3-month rental fee in rental transactions. In order to be considered legal, the money or documents determined as deposit must be formalized through the bank. When money is preferred as a rental deposit, it is in your best interest to deposit the money into a bank account bearing the landlord’s name. If the deposit in question is not money but valuable documents, you must keep the document by the bank in the same way. Otherwise, you cannot claim a right in case of any injustice that may occur. The bank delivers the deposit to you only with the consent of both parties, the finalization of the execution proceeding or a court decision.

When is the deposit refunded?

If you do not cause any damage to the property during the lease term, the landlord is obliged to return the deposit. If there is any damage to the immovable that will require renovation, the landlord also has the right to deduct the loss from the deposit fee. If the landlord does not want to pay the deposit or wants to deduct more from the deposit by exaggerating the damage to the house, you can file an enforcement action against the landlord and have the right to demand the deposit.

When is the deposit non-refundable?

– In case you damage the property or fixtures,

– In case you do not pay your rent,

– You will not be able to get your deposit back from the landlord if you fail to pay an invoice or apartment expenses you are liable to pay.

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