What are The Procedures for Converting Commercial Real Estate to Residential and Vice Versa in Turkey?

In some cases, real estate owners may want to convert their residential real estate into commercial real estate, or vice versa, and what is meant here with the commercial real estate is the real estate that is used as the headquarters of a business or company, and the intention is not the real estate acquired with the intent of trade as it may come to the minds of some, so the real estate acquired according to a residential contract It remains residential even if it is intended for sale or investment.

When making this decision, real estate owners go to the transfer application to the real estate in turkey Registry “Tabu” to convert their shops or commercial offices to residential homes or vice versa, and although the conversion of the property is relatively easy, attention should be paid to some of the issues that may cause problems to arise In the future for the property owner, and generally, changing the type of property may require a long period, due to the necessity of convincing all owners in the same building of this process and the need to obtain their approval in this regard, while the duration of formal procedures is short in itself, and the property owner must also He owns all documents that Yolk has changed the type of property provided to the competent authorities, and then begin converting the type of record mortgage procedures, and good information in this regard. Further information on this blog.

The documents required to transfer the type of real estate registry

• Title deed of the property “Tabu” who wants to change its type in the real estate registry.

• Owner approval within the building itself.

• A copy of the identity card of the property owner.

• A personal photo of the property owner, or his representative, according to a certified official agency.

• A permit statement issued by both the municipality and the state concerned with the property, to demonstrate that there is no obstacle to changing the type of this property.

Pros and cons of commercial real estate

Pros: In the case of commercial real estate, the owner of the property does not have to deal with expenses that are related to repair and maintenance of the property or its development significantly, because in many cases it is only a tenant, and he will deal with the property in a way that suits his work temporarily, which makes him the most beautiful picture And perform the purpose of the drug. Also, the flow of money from the commercial property is excellent for a long period of time, because the lease can extend for a long period of time that may reach 6 years or more, with ample room to supply it. Also, the property owner is not required to deal with the tenants, especially if the investment is large, such as building retail shops, or office apartments in Istanbul, as he is not required to solve their problems or to collect the rental costs because large real estate investments are often managed by management companies Real estate, whose task is to deal with all these matters without the inconvenience of the owner, and in the case of buying commercial real estate in Istanbul , the tenants own the money well because they are commercial or work in trade and sale, which relieves the owner of the problems of periodic financial benefits.

The negatives: As for investing in commercial real estate, this requires a large amount of money because it costs a lot, and often tenants rent a place to manage their business in difficult economic conditions, which makes the possibility of them leaving fast before the lease ends, and this matter will leave the landlord an empty space without Rent or own for a long time, while being forced to cover operating or continuing costs such as electricity, water, maintenance and other services until he finds another tenant, and that real estate investment in Istanbul needs a lot of cash to invest in this type of real estate, at What is that bank loans for this type of real estate are much less than residential real estate, and therefore the person who wants to buy a commercial property must have a large amount of money before thinking about this type of investment, in addition to the difficulty of finding tenants sometimes, is one of the negative aspects of this type of Real estate, and sometimes it is difficult to find who pays the required amount for rent, apart from all of this, it is also difficult to sell commercial property, because the demand for buying a commercial property in Istanbul is not thick enough.

Pros and cons of residential real estate

Pros: Ease of finding a tenant in residential real estate, because people are always looking for a house or apartment to live in, just as investing in residential real estate does not cost as much as commercial real estate, and investment continues in this type because people do not tire of searching for a place You live in it, and the financial flow may be a little compared to commercial real estate, but it is continuous, and the place will not be empty at any time, whether there are difficult economic conditions or not, except for the ease of selling residential properties, especially if they are in an attractive area and close to Vital sites with public facilities in them.

The negatives: If you want to invest in the field of residential real estate, you will have to deal directly with the tenants and find solutions to their problems on your own, because contracting with a real estate manager can be more costly to you than the rental fees themselves, and you may face multiple problems, such as not paying the rent In his time, and also not leaving the house at the end of the lease term, and some tenants may cause you damage to the property, which puts you in charge of repair and maintenance of the property after the tenants leave and before renting it to another person.

Generally If you are looking for a property in Istanbul, and are interested in obtaining Turkish citizenship, investing in the real estate in Istanbul  field, or searching for real estate in cash or in installments, our team is ready to help you find the right property, you can call at any time, or leave your information and let us call you, Contact us now. Consultation is free.