New insurance system protects investment interests
Sunday, June 1, 2008
Overseas property investors are being encouraged to take advantage of recent developments in Turkey. Kirelax is one of the new innovations from Century 21 launched in Turkey and the first in the world that covers risks for both tenant and landlord, from its offices in Germany and Croatia.
Turkish daily news has reported that Kirelax's objective is to find a resolution to tenants' apprehensions for inability to pay the rent and Kirelax will pay the rent for one year if the tenant is unable to do so, for reasons of unexpected unemployment, bankruptcy, mishap or sickness etc. Kirelax Plus also supports property-owners by paying rent, maintenance fees and any attorney's fees and court fees that may crop up should the landlord not receive rent for whatever reason.
Barış Birol, Century 21's Director of Channels and Operations in Turkey stated that their aim is to reach a total of 1 million people in five years.
Birol believes that the the insurance scheme they developed in association with insurance brokers ACP Sigorta & Reasürans Brokerliği will also encourage foreign investment. He also added that overseas investors like to invest in real estate that already has tenants and higher rental yields. He further said that the insurance will increase the influx of major real estate investments because it gives assurance in terms of rental yields, and the property investors will feel more comfortable to invest.
Social BookmarkingTurkish daily news has reported that Kirelax's objective is to find a resolution to tenants' apprehensions for inability to pay the rent and Kirelax will pay the rent for one year if the tenant is unable to do so, for reasons of unexpected unemployment, bankruptcy, mishap or sickness etc. Kirelax Plus also supports property-owners by paying rent, maintenance fees and any attorney's fees and court fees that may crop up should the landlord not receive rent for whatever reason.
Barış Birol, Century 21's Director of Channels and Operations in Turkey stated that their aim is to reach a total of 1 million people in five years.
Birol believes that the the insurance scheme they developed in association with insurance brokers ACP Sigorta & Reasürans Brokerliği will also encourage foreign investment. He also added that overseas investors like to invest in real estate that already has tenants and higher rental yields. He further said that the insurance will increase the influx of major real estate investments because it gives assurance in terms of rental yields, and the property investors will feel more comfortable to invest.
Labels: Investment-property, Latest-news
