What was the rent increase rate in October 2022? October rent increase rate calculation

The rent increase rate for October 2022 came to the fore with the announcement of the inflation figures for September. Tenants and landlords, whose lease agreement will be renewed, began to wonder about the rent increase rate for October. Rent increases are determined based on the 12-month average of Inflation (CPI) figures. So, how is the October rent increase rate calculated? Here, the rent increase and October 2022 rent increase rate calculation according to inflation figures.

HOW MUCH WAS THE RENT INCREASE RATE IN OCTOBER 2022?

September inflation data were announced by the Turkish Statistical Institute (TUIK).

Accordingly, TURKSTAT Consumer Price Index (CPI) was 83.45% annually and 3.08% monthly.

Consumer price index (CPI) was 83.45% annually and 3.08% monthly

The change in CPI (2003=100) in September 2022 is 3.08% compared to the previous month, 52.40% compared to December of the previous year, 83.45% compared to the same month of the previous year and according to the twelve-month averages It was 59.91. However, in accordance with the rental regulation, the owners will be able to legally increase their tenants by a maximum of 25 percent in September.

OCTOBER 2022 RENTAL INCREASING RATE CALCULATION

Current Rental Fee: 3,000,00 TL

Increase Rate You Entered: 25%

Rent Increase Amount: 750.00 TL

New Monthly Rent Amount: 3.750.00 TL

Annual New Rent Amount: 45,000,00 TL

In contracts renewed between 11.06.2022 and 01.07.2023, the tenant will not be able to raise more than 25 percent.

Minister of Justice Bekir Bozdag said, “A provisional provision stating that the increases to be made on the condition of not exceeding 25 percent of the previous rental year are valid for the lease agreements to be renewed until 01.07.2023. It is possible to make an increase not exceeding 25 percent of the previous year’s rental price,” he said.

Regarding the new lease arrangement, Minister Bozdag said, “A temporary article will be added to the Code of Obligations in the Justice Commission of the Turkish Grand National Assembly today. A temporary provision will be added to the Code of Obligations stating that the increases to be made, provided that they do not exceed It is clearly stated that the increase to be made above this is not valid. We paid particular attention to the fact that it is temporary while making this arrangement. It is a temporary arrangement. In this arrangement, we took care that both the tenant and the owner stay at a point with a certain sacrifice without prejudice to the law. I hope it meets the expectations. I hope the result we expect gives birth to them,” he said.


Source: STAR.COM.TR by www.star.com.tr.

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