The resolution limiting the increase in rent in the amount of 25% for the prolongation of long-term (annual) contracts, which was supposed to be valid for a year starting from the middle of last summer, remained and remains in force until July 1, 2023. Although the owners of real estate before the New Year insisted on revising this rule - and, accordingly, re-raising rental rates. Nevertheless, the tenants were protected: in March, despite the much higher inflation in terms of percentage points, when extending the lease agreements, they will increase their monthly fee by no more than 25%.
Office tenants, however, were not lucky: taking into account the change in the Consumer Price Index (CPI) by 57.68% year-on-year and by 6.65% over the past month, when the lease agreement is extended in March, the rate will already be 54.69%. For example, if an employee paid 6 000 Turkish lira (TL) per month for the removal of a workplace, now – with an increase of this amount by 54, 69%, or 2 500 TL, the final monthly contribution will already amount to 8 500 TL.
But the tenants were informed that if the building is considered risky in the sense of insufficient seismic resistance, then lease agreements can be terminated ahead of schedule without penalties.
The authorities are also vigilant to ensure that owners and realtors do not abuse the situation: exorbitantly inflated rental prices will be monitored, and the initiators of unjustified increases will be fined.