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Turkey

Rental Management

Overseas property is separated from the owner by some distance. In these circumstances self management can be complicated and difficult. Oracle Property Developers can provide a full range of property management options to take the stress out of renting your overseas property.

These include tenanting (for both long term and holiday lets), maintenance services and tenant services (welcome packs, cleaning, key holding, Airport transfers etc). Most investors are not content to sit on their investment and wait to realise the capital gains, nor should they be.

It is important to see an investment property working for you from day one, through Oracle Rentals aim to exceed your rental income expectations and has a highly respected position within the travel industry and close working relationships with no less than 500 high street travel agents.

Oracle Rentals rent properties through Online Rental portals such as Holiday lettings.co.uk, Rental systems.com, ownersdirect.com, apartmentsdirect.ie, villarenters.com and many more.

Oracle Rentals also supplies rental properties for tour Operators such as Aegean Beds, Travelite, Gold Trail, Barhead Travel, and constantly working to sign on more agents for selling holiday accommodation and through their affiliations with other letting agents in Turkey.

With such an extensive network of travel industry contacts, both at home and abroad, and extensive use of press and internet advertising, you can be confident that Oracle Rentals has the ability and experience to ensure your property (or properties) will be marketed properly and effectively.

In addition to short term holiday lets, Rental Management can also arrange long term lets for suitable properties for up to 12 months long term rentals.

Services provided by Oracle Rentals

Oracle Rentals offer a full rental management service. This includes the following:

Tour Operator Rentals

We are one of the only companies managing rentals of client apartments in Turkey for tour operators. We do have the 22 years of experience and an excellent track record.

Why choose to rent through tour operators?
For those looking for a rental income in the Beach resorts and the coastal areas it represents a major opportunity and by far the largest market for rentals of apartments.

How can I rent my apartment?
All the major tour operators take on properties on a development by development basis working with an experienced rental management company. It is not possible for individual owners to sign agreements with tour operators.

With the increasing accessibility of Turkey there is now a growing demand for private rentals as well as package holiday makers. This has the advantage of higher nightly rates compared with tour operators.

How do I furnish and decorate my apartment?

To purchase complete furniture packages for your Turkish Holiday Property, we recommend you visit our Furnishing Department at www.oracleproperties.co.uk. Oracle Properties provides a comprehensive furniture package and offers additional options. Oracle Properties ensures placement, delivery and installation of your order in a timely manner. The units they furnish contain all the basic components to insure occupants have what they need for a worry free stay. But Oracle Properties does more than provide the basics; they create a comfortable holiday home.

Property owners may also choose to furnish their own units. Several have done a fabulous job, while others may not qualify for our program or be required to offer their units at our budget pricing. If an owner is interested in furnishing the apartment themselves, or through another company, please feel free to contact us so we can provide a list of items that we recommend for best possible rental.

Higher quality furniture will last longer and be more appealing to potential renters. For Rental Management purposes, owners will want to consider Oracle Rentals standards for holiday home furnishings. All Oracle Rentals properties must have hot water. Additionally, the installation of air-conditioning units in the bedrooms and the living room is highly recommended as rental prices are set in accordance. Oracle Rentals Linen program takes into account standard bed sizes, and our linens may not fit custom beds.

What is the advantage of installing Hot Water and AC/Heat Pump units?

Though it is not standard in Turkey for builders to install hot water heating, Oracle Properties requires water heater installation by those in our Rental Management program. The AC and Heat Pump units are extremely important to a successful rental management program and contribute toward establishing the rental price on individual units. During high season outside temperatures and humidity determine which units renters will request. Many Europeans prefer air-conditioning in their bedrooms. For this reason, Oracle Rentals highly recommends the installation AC units in all bedrooms and the living room. Oracle Properties installs adequately sized hot water units and air conditioning/heat pump units with guarantees and employs a reliable electricians and plumbing engineers.

Q & A Regarding Oracle Rentals Property Protection

Will Oracle Rentals provide updates on my holiday home?

For clients who sign up for Oracle Rentals Property Protection Service, which is a prerequisite for Rental Management, we will visit your apartment regularly to test electronic equipment and utilities as well as the contents and condition of your holiday home. For your convenience and peace of mind, we will have quarterly reports providing easy access to the latest a financial report, inventory, your home’s current condition, as well digital photos on request.

Will Oracle Rentals control the keys on Holiday homes?

Securing keys is invaluably helpful toward Oracle Rentals meeting the expectations of both owners and renters. The keys are secured in a safe place that allows Oracle Rentals access to your unit to ensure that your property is cleaned, aired, and repaired on a monthly basis. Additionally, key holding allows Oracle Rentals employees to access your vacation home in a timely manner to update inventory and snap digital photos to prepare quarterly updates. For clients who sign-up for our Rental Management program, key holding allows rental clients access to your home.

Q & A Regarding Oracle Rentals Rental Management

What do I need to do in order to utilize Oracle Rentals Property Management services?

To utilize our Property Management Services you will need to provide us with the following:

How do I obtain property insurance for my vacation home? What are the insurance requirements?

Oracle Properties can offer you a insurance quote, who can provide you with coverage on your property and its contents. Our Administrative Services package includes assistance with purchasing insurance for your home and an annual reminder for payment. Our staff researched prices on Turkish and European insurance companies and provides you with best cover and price options.

Will Oracle Rentals leave consumable products in the apartment after clients or renters leave?

We at Oracle Rentals are devoted to making sure our clients are comfortably and safely settled in their homes. Due to possible food contamination or expiration dates passing, we deem it unsafe to leave consumable products other than paper goods and cleaning products in the unit between occupants. Maintaining this standard is a precautionary step toward preventing an infestation of unwanted pests. For Oracle Rentals members we recommend, a lockable personal storage area in which personal belongings may be kept.

How will I be notified when my unit is occupied and if it is available?

We at Oracle Rentals recommend our clients let us know as soon as they establish personal travel plans and are aware of dates their unit is available for rent. It is required by Oracle Rentals that holiday home owners provide Oracle Rentals enough notification of owner occupancy and rental availability dates. Providing advanced notification regarding owner occupancy and unit availability allows us to book your unit as soon as a renter inquires.

Renters may request a specific unit. If they do not state a preference, requests for units will be rotated among owners whose units are available. If owners have not provided us with availability information and a potential renter requests a particular unit, we will contact an owner via email regarding a specific request and await confirmation before booking a unit. If confirmation is delayed more than three working days, we will suggest the rental client consider another available unit.

Will renting in high season give me a better chance of rental?

Yes, definitively. High Season, which starts at the beginning of July and ends on 1st of September, is a very active period for the region for international holiday makers as well as Turkish ones. The coast has a warm, Mediterranean climate tempered on the eastern coast by southwest trade winds. Turkey has nice weather and beautiful beaches is attracting an increasing number of tourists every year, which is very promising for any property owner renting his apartment.

Will I pay a commission for Oracle Rentals if I possibly wanted to use my apartment or for family/friends?

No. Owners do not pay commission to Oracle Rentals if you are planning to host friends or family in your property. However, we want you to inform us of the arrival and departure dates beforehand so Oracle Rentals reserve this period for you and/ or relatives and friends. Cleaning fees and other extra services (if any) will be charged.

What are the market indicators for holiday home rentals along the Aegean Coast of Turkey?

Does Oracle Rentals guarantee rental income?

Guaranteed rental schemes are fairly new in the international real estate market The real advent of guaranteed rental schemes took place in Florida around six years ago, before moving swiftly onto Bulgaria, France, and are now available in most destinations. The truth behind such schemes is that they are seldom based on true market demand. Guaranteed rent is usually offered during the off-plan building stage and the guarantees last around two-years. In practice, most developers raise their prices by the same amount and often the properties sit empty. The bottom line in such schemes is: the owner pays their own rent! Clients who have purchased through Oracle Properties have acquired property at a market-beating price. In order to ensure their clients receive maximum benefit from their savings, Oracle Properties did not tie any such "guaranteed rental scheme" into their prices. The good news is that the Oracle Rentals is booming. The rental market, especially the local market, is incredibly strong. We intend to take full advantage of this situation by maximizing our marketing strategy in order to strive for high occupancy rates for our clients during the summer months. We are optimistic that your investment will be profitable.

Please be assured that it is in our best interests to do our very best to ensure that your property is rented./p>

We will take advantage of the internet market and be an information resource for our email contacts. Oracle Rentals is creating weekend getaways as well as all full package holidays including flights, transfers and holiday rep services in an effort to maximize holiday home occupancy throughout the year. For advertisement abroad, we are working with a marketing consultant and have been in contact with well known travel agencies and tour operators.

What one time additional fees are required in addition after a client signs up for Oracle Rentals Starter Pack Plus?

There are not any other fees; the Starter Pack Plus is all inclusive.

How is Turkish rental income tax calculated?

Investors from the UK, looking to let their Turkish property, pay tax on any rental income that is generated over...per year. For tax advice, we recommend you consult with a tax expert and please note you are responsible for your tax issues.

Q & A Regarding Oracle Rentals Administrative Services

How will my utility payments be processed?

Our Rentals Services can assist opening a bank account, setting up a direct debit for your utility payments for water and electricity providing you with peace of mind knowing your services will continue without interruption. Establishing a reserve account with your Bank such as Direct Debit allows bills to be paid on a regular basis. Oracle Rentals Administrative Services will inform you on any payment delays or oversights. Tracking prevents utilities getting shut off before your arrival or that of your renters.

Other Questions?

Please feel free to email us or call us with any other questions or doubts that you might have!

Routine Cleaning

Basic general routine cleaning

Deep Cleaning

Deeper and more thorough level of cleaning for which longer hours are expected

Laundry

Charged per  apartment unit according to the size  and type of your property

Cooking

Varies in quality on the culinary knowledge of the cook, and is limited to simple preparation

Catering

Call with requests and availability

Parties/Events

Call with requests and availability

Welcome Packages

Varying from basic wine and cheese packages, to certain necessities, as well as special requests for content

Minor Repairs

These are minimal and general repairs understood to be of normal necessity

Major Repairs

These are left to the discretion and ability of the maintenance crew, and may be subcontracted to a third party

Maintenance Programs

These are left to the discretion and knowledge of the maintenance crew, and may be subcontracted to a third party that cover special additional maintenance needs you may have

Installations

Installation of appliances or amenities

Property Checks

This is a check on the condition of the property not included in the service packages

Emergency Visits

An emergency check of the property not included in the service packages, the hour and extent of emergency may vary. In cases where the situation requires this service due to a prior agreement, the fee may be added, even without prior approval, as long as the services prevent further loss and ensure the wellness of the property.

Changeovers

This service assists prior to, or after guests or tenants leave. It includes cleaning, changing of sheets and towels, inventory of property, and any other general services that may be needed

Call Out Services

We check on your property additionally from any service packages agreed on

Chauffering

We drive you around, assisting you as we go

Airport Services

Pick up or drop off service

Guest Meet & Greet

Welcoming guests, picking them up, and other services needed

Guided Tours

Assistance and guidance as you tour Turkey.

Starting Services

Assist you in setting up the paperwork, billing, legal, and accounting prior to your arrival

Mail Forwarding

Mail forwarding from Turkey

Survey - consulting

Call with requests

Successful property investment is achieved by following certain basic criteria: producing a positive cash flow and investment costs vs. income. Determining cash flow begins by determining rental value. We determine the rental value of your property by comparing it to the local market (common properties, amenities, location, season, etc…). Turkish Holiday homes do not typically rent for 365 days of the year, Unless you agreed to do long term rental to locals. During low-season rental rates are difficult to determine but typically rental property income during one summer month produces more revenue than in 6 months during low season. We aim to balance the amount of rental income with property demand and provide tourism to increase demand.

Rental Income covers operating costs, management and changeover fees, property maintenance, garbage collection, applicable taxes, mortgage payments, insurance, utilities, etc. Property age and quality of furnishings plays factor into property repair costs. Maintaining the property in peak condition insures the highest cash flow possible.

If you choose to sell your home, property values commonly follow an upward trend. In increasingly popular resort areas, this trend is normally multiplied even more. The longer you hold onto your property, the more appreciation you build, and the more your property should be worth. A good cash flow record helps raise property value to the highest possible rate, with which you are able to prove your winning track record to potential buyers. Our priority is to successfully partner with you to provide maximum possible rental income. Making you successful makes us successful as well.

Real estate investment may not be as rewarding as more risky investments like the stock market, but smaller gains are better than the risk of loss, and lower risk ensures you are not “gambling” with your money, but rather wisely increasing it. By way of example: say someone takes out a £40.000 loan with an interest rate 7.5%, with a monthly payment of £280. Oracle Rentals rents out that property and produces a positive cash flow of £52 in a month for you. Additionally, the property value appreciates by 6%. You now have a monthly increase in value of £200 on a £40.000 property, thus creating an investment increase of £252 in a month. In this way, investors may decrease mortgage debt by one month. If one were to apply the £252 towards a mortgage payment, this would reduce ones mortgage payments by eight months! Our goal is for our services to pay for themselves through protecting your investment from loss, by maintaining and/or increasing property value, and by providing additional opportunity for income

We go above and beyond to ensure your property stays occupied. We cater to Europeans, Turkish tourists, and even your personal guests. We cater to any person willing to pay rent, and upon request and availability we offer additional services. We market and advertise our rental management package without further cost to you. Consider us as your liaison and representative within Turkey.

Watch our website for exciting seasonal holiday package offerings!

Your Rental Agreement

For owners looking to rent their properties with Oracle Rentals, on either short or long term lets, the rental management contract is provided once you have signed the purchase agreement for your property and paid a deposit.

The rental agreement will ask you to pay the first 12 month’s rental administration costs in advance, however, only where these can be added to the mortgage loan agreement, some mortgage developers don’t allow costs to be added so alternative arrangements are available. In such cases any fees, including your security deposit, will be paid by your solicitor on completion of the building work.

On completion of the construction, Oracle Rentals will inspect the property on your behalf to ensure the quality of the work is of a sufficiently high standard. The results of this check will be sent to you and your solicitor. Where necessary, this report will list any remedial work required before the property can be rented.

Should any such work be needed, Oracle Rentals will revisit your property and conduct a further inspection to ensure that the remedial work has been completed to the required high standard. Once that standard has been reached, you and your solicitor will be sent the advice that the work is now acceptable to all parties and you can take final possession of the property.

For extra security, once final possession is complete, Oracle Rentals will arrange for an initial clean to remove builder’s dust. You will also be provided with a local contact name and telephone number.

After the initial cleaning, any furniture and electrical packs will be installed followed by a final ‘sparkle clean’ to ensure your property is perfect for the first holiday makers – after all, you only get one chance to make a first impression!

Preparing your property ready for the rental market involves proper preparation. Your property must meet the required standards of the main tour operators and the estimated costs of meeting these standards are explained throughout.

Rental income

All income generated will be paid in Sterling or Euro into each client’s nominated bank account. The Oracle Rentals Management agreements are renewable and must be agreed in time for the next holiday season to ensure maximum rental income.