Real EstateTurkiye

New Era in Rental Housing: Importance of Your Credit Score

Amid ongoing disputes between landlords and tenants, a new era has dawned in the rental housing market. Nowadays, landlords are increasingly seeking working civil servants as guarantors for rental agreements, with tenants’ credit scores playing a crucial role in securing accommodation.

The 25% cap on rent increases, which was introduced in 2022, is set to expire on July 1, 2024. Landlords argue that despite receiving minimal rental income, they are constrained by rental increase limitations and are urging for the removal of this cap.

As reported by Ekonomim, landlords facing challenges in evicting tenants and enduring prolonged legal battles are now demanding additional documentation from prospective tenants.

To safeguard their interests, landlords are requesting documents such as credit score reports, SSI certificates, and criminal record copies during the application process. Furthermore, eviction clauses granting landlords the right to terminate tenancy at any time are now standard in rental contracts.

Landlords assert their preference against renting to tenants with low credit scores and insist on a public servant acting as a guarantor for added security in rental agreements.

Source: NTV / Prepared by Irem Yildiz

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