New era in residential rentals: Starts on January 1, 2025

Changes have been made to the Electronic Advertisement Verification System (EİDS). The system, which was previously announced to be applied to residential sales as well, will be implemented only for rental listings for the time being.

"NEW ERA STARTS ON JANUARY 1"

Speaking about the new regulation, Real Estate Expert Mustafa Hakan Özelmacıklı said, "According to the regulation made by the Ministry of Trade, it has been decided that the EİDS Authorization Verification Application will be implemented only for rental real estate listings as of January 1, 2025, and that for real estate listings for sale, advertisements can be posted without verification even if the EİDS query result is negative until a second instruction."

Changes have been made to the Electronic Advertisement Verification System (EİDS), which will become mandatory for all real estate listings as of the new year.

Making evaluations on the subject, Altın Emlak Global General Manager Mustafa Hakan Özelmacıklı said, "The second phase of the Electronic Advertisement Verification System (EİDS), the authorization verification application, was put into effect on September 15, 2024.

"IT WILL BE MANDATORY FOR RENTAL PROPERTIES FOR NOW"

In fact, tests were also conducted in all advertisement types in our provinces of Bolu and Manisa. As a result of the feedback received from advertisement platforms and industry representatives, our Ministry has decided that the EİDS advertisement authorization verification process will be valid only for rental properties as of the new year. The authorization verification process will not yet be started for listings for sale," he said.

Stating that with the implementation of the practice for rental properties, it will only be possible to authorize real estate businesses with authorization certificates, Özelmacıklı said, "EİDS control will be mandatory for rental listings entered after January 1, 2025.

Listings for rental properties that are not granted permission to advertise via e-Government will not be able to appear on platforms, except for exceptions.

"IT WILL NOT BE APPLIED TO PROPERTIES OWNED BY FOREIGNERS"

Properties owned by foreigners are within the scope of the exception. The owner of the property will be able to enter the rental listing for a property belonging to themselves, their first and second-degree blood relatives, or their spouse."

Verified listings will include a logo indicating that authorization verification has been performed via EİDS," he said.

"TRANSITION PROCESS WILL BE COMPLEX"

Özelmacıklı said, "The Electronic Advertisement Verification System (EİDS) will be implemented for rental listings belonging to both legal and real persons. Postponing the process for listings for sale will allow advertisement platforms more preparation time for the full-scale implementation of EİDS.

"THERE IS NO CLEAR DATE FOR LISTINGS FOR SALE"

It is not clearly known when listings for sale will be included in the EİDS system.

However, the fact that different processes will be applied for rental and for-sale listings may also create confusion in the sector.

Ultimately, the EİDS system was developed to increase the reliability of listings in the real estate sector and to prevent fake listings," he said.

"THERE MAY BE DECLINES AFTER JANUARY 1"

Stating that over 200 thousand rental residential listings and over 50 thousand rental workplace listings are entered on a monthly basis on just a single advertisement portal in our country, Özelmacıklı said, "We may see some declines in these listing numbers after January 1.

Because for all rental listings, advertisement permission granted by the property owner via e-Government will be required."

"AUTHORIZATIONS WILL BE MADE VIA E-GOVERNMENT"

Authorizations to be made via e-Government will last for 3 months and will be mandatory for rental properties in the first stage. While approximately 30 percent of residential listings are for rent, 70 percent are entered in the for-sale category.

In commercial listings, we can say that for-sale and rental listings are at approximately the same levels," he said.