How does a tenant's security deposit work?

What is a security deposit?

In lease agreements, the landlord may request a security deposit from the tenant against potential damages and debts. This matter is regulated under the Turkish Code of Obligations and must be clearly agreed upon in the contract.

The legal upper limit

In residential and roofed workplace leases, if the contract imposes an obligation to provide a security deposit, this amount may not exceed three months' rent. Parties are free to agree on a lower amount.

How is the deposit held?

• If cash is agreed as the deposit, the tenant must deposit it into a time savings account.
• If securities are agreed, they must be deposited with a bank.
• The bank cannot return these assets to the tenant without the landlord's consent.

Releasing the deposit

The bank may only release the deposit with the joint consent of both parties, or based on a finalized enforcement proceeding or a final court decision. Neither party alone can request release from the bank.

What happens when the lease ends?

After the lease ends, the landlord must act within a certain period. If the landlord has not notified the bank in writing, within three months following the end of the lease, that a lawsuit related to the lease has been filed or enforcement/bankruptcy proceedings have been initiated against the tenant, the bank is obliged to return the deposit upon the tenant's request.

Practical points to note

• It is important that the deposit amount is clearly stated in the contract.
• Depositing the amount in a bank, rather than handing over cash, protects both parties' rights.
• Paying attention to notification deadlines at the end of the lease helps prevent disputes.
• It is advisable to consult your own lawyer for disputes regarding the deposit.

Our approach at Home&Booking

In rental processes in Bodrum, our real estate consultants inform both tenants and landlords so they understand their rights regarding this process. However, we recommend consulting a lawyer for legal evaluation in any specific case.