Changes made to timeshare rentals for tourism purposes

Changes regarding timeshares in the regulations for daily rentals were published in the Official Gazette. With these changes, management companies chosen by the owners of timeshares are now authorized to rent out these properties for short-term stays. The management company can now use the timeshares for short-term rental purposes.

Changes were made to the regulations governing the rental of residential properties for tourism purposes. The regulations, which set the procedures and principles for renting residences for tourism purposes for 100 days or less at a time, came into effect on January 1, 2024. According to these regulations, a permit must be obtained for short-term rentals.

Timeshares Can Be Rented by Management Companies

Changes were made in the regulations regarding the rental of timeshares. According to the text published in the Official Gazette today, timeshares can be rented out by management companies based on the joint decision of the owners.

For each independent unit with timeshare rights registered in the title deed, the representatives chosen by the co-owners will have their decision notarized. A sample of the timeshare agreement and zoning status document will also be submitted when obtaining the permit. The permit will be issued in the name of the management company to which the rental is transferred.

Source: ekonomim.com