- At the beginning of this year, new regulations came into force, which require all rent payments for residential or commercial properties over 500 TL to be made through a bank or PTT. Failure to comply with this rule will result in significant penalties for both landlords and tenants. The Ministry of Finance, aiming to prevent tax losses and evasion, has intensified its efforts: on the one hand, they are inspecting bank accounts, while on the other, they are increasing field inspections.
- All payments must be made legally
However, some landlords, seeking to avoid taxes, are still either not signing contracts and declaring the property vacant, or collecting part of the rent in cash and part through the bank. In such cases, both landlords and tenants face penalties. Therefore, the full rent amount must be paid via bank transfer or PTT with a clear indication in the payment description
Warning from experts to tenants
Experts warn tenants to make payments only through banks or PTT, and landlords are also required to comply with this rule. With the new law in effect, a special penalty will be imposed on anyone who continues to pay or accept rent in cash. The penalty will be 10% of the rent amount, with a minimum fine of 5,000 TL for each violation. The maximum fine can reach up to 20 million TL.
