Since there are only a few days left until the onset of 2023, some homeowners want to raise rents at the beginning of the year, referring to the expected increase in the minimum wage in January. And this is despite the fact that, according to the law, in long-term rental contracts extended annually, it is prohibited by law to raise rates by more than 25% every 12 months.
Hakan Akdogan, founder and president of the Association of Business Real Estate Consultants (TÜGEM) and Chairman of the Real Estate Committee of the Istanbul Chamber of Commerce (ITO), spoke about the increase in the consumer price index (CPI) for November and that rates for renting jobs increased by 70.36% over the year. He also reminded that a very large number of owners in different cities have almost doubled their rent due to inflation and rising real estate prices as such, so there are actually few who observe the "25% rule".
Be that as it may, the tenant has the right to go to court and defend his rights if he does not violate the rules of residence, pays rent on time, etc. In this case, he has the right not to agree to an increase in rental rates by more than 25% during the year. However, if five years of rent have already passed, then the landlord can already go to court with a demand to revise the rate: raise it much more, taking into account inflation and average market prices.
Experts told whether to expect a reduction in rental rates in 2023. Recall that the average tariff for renting apartments in key cities of Turkey exceeded 10,000 Turkish lira.
Also, at the end of the year, the average rates for renting housing in different districts of Istanbul were published.