Attention landlords and tenants: The maximum rent increase rate has been determined
The 25 percent ceiling on residential rent increases expired as of July 2. With the announcement of June inflation, the 12-month CPI figure, which affects rent increases, reached 65.07 percent. Thus, the maximum rent increase has been set at 65.07 percent.
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The 25 percent ceiling on residential rent increases expired as of July 2.
In the new period, residential rent increases will now be determined based on the 12-month CPI rate.
Consequently, landlords will not be able to exceed the CPI limit, and those whose contract renewal period was before July will not be able to request a new increase for this year.
With the announcement of the June inflation data, the new increase rate that landlords can apply to rents has been determined.
The Turkish Statistical Institute (TÜİK) announced the inflation rates for June.
According to TÜİK, the Consumer Price Index (CPI) increased by 71.60 percent annually and 1.64 percent monthly.
The 12-month CPI figure, which affects rent increases, was 65.07 percent.
Thus, the upper limit for rent increases has been set at 65.07 percent.