The rent increase rate in January came to the fore after the December inflation data announced today. Tenants and landlords, whose lease agreement will expire this month, are investigating at what rate the increase will be made. In this context, while investigating the details of the calculation of the WPI CPI rent increase rate, it was also a matter of curiosity how many percent would be hiked. So, what was the January 2023 rent increase rate? How much will the rent be increased this month?
What is the Rent Increase Rate in January 2023?
The new lease regulation is applied to lease agreements to be renewed until July 1, 2023, not exceeding 25 percent of the previous year. Accordingly, January 2023 rent increase rate will be applied as 25%.
Although the CPI rate is higher, it will not be possible to increase more than 25 percent due to the upper limit. The residential rent increase was limited to 1% until July 2023, 25. Therefore, the 12-month average CPI will not affect the rent increase in housing.
Important Rental Agreement Detail for Residences
Minister of Justice Bekir Bozdag said, “A provisional provision regarding the validity of the lease agreements to be renewed until 1 July 2023, provided that the increases to be made, provided that they do not exceed 25 percent of the previous rental year, will be added to the Code of Obligations in the Justice Commission. Thus, it is possible to increase the rents of the residences for a period of one year, not exceeding 25 percent of the previous year's rental price.
Accordingly, in contracts renewed between June 11, 2022 and July 1, 2023, the tenant will not be able to raise more than 25 percent.
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