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The Most Important Things to Know About Security Deposit in Turkey

: 2019-05-17 Modified date : 2019-08-27

The Most Important Things to Know About Security Deposit in Turkey
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The lease for a person who wants to rent a property in Turkey regulates some of the controls stipulated by the law. Security Deposit is one of the important items, which are recognized in the lease, and the insurance controls some of the measures that we will address in this article.

First, we will learn about the meaning of this term and then talk about some important controls.

What is the Security Deposit?

Security Deposit : is an amount that the property owner takes from the tenant as a guarantee to repair property damage or damages during the period of the tenant's stay, such as repair of plumbing, repair of bathroom faults ... and other malfunctions or payment of proceeds and expenses, which is likely not to be paid by the tenant.

Insurance of rent

What are the cases where the Security Deposit is not given back to the tenant?

When the house and its fixtures experience any defect or damages that the tenant is not causing, the repair of the damage, in this case, it is the property owner's responsibility, In addition, the value of the insurance shall not be deducted from the deposit.

If any damage is caused to the home or its fixtures, and the lessee caused it, the owner of the property may deduct the repair allowance from the insurance. In this case, the tenant will not take back the deposit.

The amount of insurance in the lease contract

What is the value of the Security Deposit?

All about leases is set out in the framework of the Turkish Debt Law, under the title "Rental of houses and roofed workplaces" The value of the deposit is determined in article 342 of the mentioned Act.

Based on these provisions, the value of Security Deposit is set at the maximum rental value of the property for a maximum of three months, which the lessor is not entitled to exceed in any case.

This should be taken into account before concluding the contract between the lessor and the lessee, as the law prohibits determining more than the mentioned value, and allows less.

How should the Security Deposit be paid?

The method of payment of the deposit can be determined in cash or in the form of payment by means of securities of financial value, such as bonds, checks, etc. These two cases must be paid attention to. The purpose of this insurance is not to give a gift to the owner of the leased house; rather, it is the right of the lessee to deposit a trust with the lessor or in a bank account, from which the value of the damage would be deducted if it occurred intentionally from the lessee or due to default.

Anyway, it is recommended that in case of payment in cash, the payment is not by hand but by documents.

The amount of the Deposit amount should be written in the lease to be proof that this amount has been paid to the homeowner. Even in the case of payment of documents and checks, these securities can be deposited with the bank to increase the trustworthiness and protect from the deception of bad intentions.

How can a tenant take Security Deposit back?

The tenant can assure his right by documents, as explained earlier these documents will guarantee the right from the lessee. The rental law in Turkey provides that if the property owner does not inform the bank in writing within three months of the end of the contract that requested to be prosecuted for a breach in the contract, the bank must give the insurance back to the lessee. The amount can be refunded by submitting a request from the tenant to the bank.

lease

If the property owner has a legal claim or a prosecution based on the lease, the owner of the property cannot take any of Security Deposit deposited in the bank before the outcome of the action against the Tenant is rendered conclusive.

Consequently, the lease in Turkey is the most proof of the right of the tenant.

The purpose of the Security Deposit is to protect the right of the property owner in case of default or abuse of the tenant. In contrast, compliance with the previous points would also protect the lessee's right, if the default is not proved by him so that the lessee shall be entitled to give back the amount of the deposit that he has paid or the amount due from him.

Edited by: Imtilak Real Estate ©

Source: Emlak Kulasi

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