The figure millions of tenants and landlords have been waiting for has been announced! June rent increase ceiling is set
Following the Turkish Statistical Institute's announcement of May inflation data, the rent increase rate applicable for June has become clear. The ceiling increase rate for residences and workplaces has been calculated at 32.24 percent.
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With the Turkish Statistical Institute (TÜİK) releasing inflation data for May, the maximum rent increase rate that can be applied in June has been determined.
According to the announced data, the ceiling increase rate applicable to residential and workplace rents in June has been calculated at 32.24 percent.
JUNE RENT INCREASE CEILING IS SET
The increase rate, which concerns tenants and landlords who will renew their lease agreements in June, was determined by taking into account the 12-month inflation average announced by TÜİK.
In this context, the maximum increase rate that can be applied to rent contracts renewed in June is 32.24 percent.
CALCULATION IS BASED ON THE 12-MONTH INFLATION AVERAGE
According to current practice, the ceiling increase rate that can be applied to residential and workplace rents is calculated based on the 12-month average consumer price index data announced by TÜİK.
For this reason, the new rent increase rate becomes clear with the inflation figures announced each month.
THE 25 PERCENT LIMIT IS A THING OF THE PAST
The 25 percent rent increase limit applied to residential rents came into effect in 2022 and was implemented for two years.
While the regulation in question expired in July 2024, rent increases began to be determined again according to the 12-month inflation average following the removal of the practice.
ALL EYES ON RENEWING RENT CONTRACTS
Residential and workplace tenants and property owners who will renew their lease agreements in June will be able to apply the increase rate for the new period at 32.24 percent.