We have gathered the terms you come across when buying, selling and letting property, briefly and with the meanings we use in our daily work. Each term has its own page, and the links inside it take you on to related topics.
- Service charge — The amount paid each month towards the shared costs of a complex or apartment block.
- Land share — The share of the land attributable to an individual unit.
- Gross and net square metres — Gross is the total area including the walls; net is the usable area inside.
- DASK (Compulsory Earthquake Insurance) — The earthquake insurance that is legally compulsory for homes.
- Inventory list — A written schedule of the furnishings and fittings left in a let property.
- Security deposit — The security sum a tenant leaves against any damage they may cause to the property.
- Expert appraisal (valuation) — A report on a property's market value prepared by an expert.
- Property tax — The annual tax property owners pay to the municipality.
- Comparables — Similar properties compared against when setting a price.
- Energy Performance Certificate (EPC) — The document showing a building's energy consumption class, from A to G.
- EİDS (Property Listing Verification System) — The state system that verifies property listings are posted by authorised people.
- Furnished letting — Letting a property together with the furnishings inside it.
- Attachment (seizure) — An official seizure entry placed on a property because of a debt.
- Shared title deed — A property being owned in shares by more than one person.
- Construction servitude (kat irtifakı) — A right established over a unit in a building that is not yet complete.
- Construction in return for flats — A landowner giving their land to a developer in return for a share of the units to be built.
- Condominium ownership (kat mülkiyeti) — A unit in a building registered at the land registry as a separate property in its own right.
- Rent increase rate — The legal upper limit that may be applied when a lease is renewed.
- Rental income tax — The tax paid on rental income above a set threshold.
- Lease agreement — The written agreement setting out the rights and obligations between the owner and the tenant.
- Commission (service fee) — The fee a real estate business charges for its brokerage service.
- Mortgage eligibility — Whether a property can be bought with a housing loan.
- Occupancy status — Whether the property is currently empty, owner-occupied or tenanted.
- Assessed value — The unit value the municipality uses as the basis for tax.
- Undertaking to vacate — The tenant agreeing in writing to vacate the property on a given date.
- Title encumbrances — All restrictions and annotations recorded on the title deed.
- Title transfer — The formal transfer of ownership at the land registry office.
- Title deed fee — The transaction fee paid to the state on a title transfer.
- Real Estate Trading Authorisation Certificate — The document that allows a real estate business to operate lawfully.
- Management plan — The agreement setting out how a complex or apartment block is to be managed.
- Mortgage lien — A right placed on a property as security for a debt.
- Occupancy permit (building use permit) — The document showing a building was completed in line with its plans and is fit to live in.
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