Reviewing a tenanted property for resale and exit
A resale review of a tenanted property must answer two different commercial questions: what rental relationship will pass to the buyer, and what obligations still belong to the seller at the transfer date? Treating the apartment as “sold with tenant” is too vague. The exit file should identify the tenant, governing lease, current rent, deposit, payment status, notices, disputes and any agreement for vacant delivery.
Assume the lease matters after sale until the law and documents show otherwise
Article 310 of the Turkish Code of Obligations provides a clear starting point: when the leased property changes owner after the lease is formed, the new owner becomes a party to the lease. A seller cannot promise vacant possession merely because the title will move to the buyer. If vacant delivery is commercially essential, the buyer needs a legally and factually reliable basis for it, not an assumption that the old landlord can terminate at will.
For residential and roofed-workplace leases, Article 347 is also relevant to “expired” leases. A fixed-term lease generally extends for a year on the same conditions unless the tenant gives the required notice; the landlord cannot terminate only because the initial fixed term ended, subject to the statutory rules after the ten-year extension period. The resale file should therefore state the actual continuing term, not just repeat the first contract’s original end date.
Transfer the economic history cleanly
Reconcile the current rent, last paid period, arrears and any prepaid amounts. Keep bank evidence where possible. The buyer should know the next payment date and account instructions, while the seller should stop collecting for periods belonging to the buyer. If a rent increase or temporary concession was agreed, include the signed or otherwise reliable evidence that supports the current amount.
Deposit treatment deserves its own line. Article 342 limits contractual security in residential and roofed-workplace leases to three months’ rent and regulates monetary security. The resale file should state the amount, form, where it is held and how it will be transferred or accounted for. A buyer should not accept responsibility for returning a deposit that the seller still holds without a corresponding settlement.
List notices and disputes with their current procedural status
If there is an eviction undertaking, termination notice, two-notice allegation for nonpayment, enforcement proceeding, mediation or court case, include the actual documents and dates. Do not summarize a contested eviction as “tenant leaving soon.” Rental disputes generally require pre-litigation mediation under Article 18/B from 1 September 2023, subject to the statutory exception for eviction through non-judicial enforcement. The latest procedural result should be recorded so the buyer understands whether the matter is merely asserted, under negotiation, filed or finally resolved.
Make the tenant-facing handover part of the closing
Prepare a notice of the ownership/payment transition using the legally appropriate method for the case. The tenant should know the correct new payee and effective date, while the parties retain evidence of what was communicated. If management, utilities or building access systems identify the occupant, update them consistently without confusing service registration with the lease itself.
Distinguish an investment sale from a vacant-possession sale
For an investment buyer, continuity can be an asset: the file should document enforceable rent, payment performance and deposit. For an owner-occupier, continuing tenancy can be a material limitation requiring separate legal planning. The sale price and timeline may depend on which situation applies. Do not market the same occupied property as both “immediate move-in” and “income-producing with tenant” unless the documents explain how and when occupancy will change.
Close the seller’s file with a transfer statement
The final exit statement should show the tenant, current lease and addenda, current rent, last payment, arrears/credits, deposit, open notices or proceedings, the title-transfer date and the allocation of rent and security around that date. Where a point is disputed, state that explicitly rather than converting it into a clean warranty.
A well-prepared exit review makes the sale understandable to the next owner and to the tenant. It protects the buyer from inheriting an undocumented occupancy problem and protects the seller from later claims about rent or deposit that should have been settled at transfer.