The state becomes a landlord: TOKİ granted rental authority

The government is taking a new step against the exorbitant rent increases in the housing market. In the new model to be carried out by the Housing Development Administration (TOKİ), the state will directly assume the role of a landlord.

With the legal regulation currently being prepared in this context, it is planned to grant TOKİ the authority to rent out housing. The goal is for TOKİ, which currently only has the authority to build and sell housing, to be able to implement rental housing projects with the new regulation.

The project, the details of which will be announced in the coming days by President and AKP Chairman Recep Tayyip Erdoğan, is at the center of the government's strategy to "facilitate citizens' access to housing" and "balance exorbitant rents."

TOKİ WILL ALLOCATE SPECIAL QUOTAS FOR RENTAL HOUSING

According to the report in the Türkiye newspaper, special quotas will be allocated for rental apartments within social housing projects. These apartments will not be offered for sale; they will be allocated to those in need solely through a rental model.

In the new system, where TOKİ will directly manage rental transactions, the state will act as both the property owner and the landlord. Thus, it is aimed to keep rents within a certain balance, unaffected by market pressure.

FIRST IMPLEMENTATION WILL START IN ISTANBUL

The first implementation of the new model, developed within the scope of the government's target to produce 500 thousand social housing units by 2028, will be launched in Istanbul.

In the first phase, it is planned to produce more than 10 thousand housing units for rent. Depending on the results obtained from the pilot application in Istanbul, the project will be expanded to major cities such as Ankara, İzmir, Bursa, and Antalya in the future.

TENANTS WILL BE DETERMINED BY LOTTERY

A lottery method will be used for renting the properties. Priority in the lottery will be given to low-income and disadvantaged groups.

These groups will include retirees, the disabled, families of martyrs and veterans, newlywed young couples, and families with three children.

The main promise of the project is that these residences will be offered to citizens at rental prices significantly below market conditions.

The necessary legal regulation work to grant TOKİ the authority to rent has been initiated by the AKP. In this context, it is envisaged to add the term "renting" to the existing legislation that includes the authority for housing production and sales.