The annual rent increase was determined by 25% according to Temporary Article No. 1 added to the Turkish Debt Law on June 11, 2022. This addition is effective until July 1, 2023. Any increases that occur after this date will be applied according to the percentage mentioned for that date. Homeowners may not increase the rent percentage more than the percentage specified by the Turkish debt law.
A tenant whose rent increased last year between June 11, 2022 and July 1, 2022 by 25%, will increase this year, according to the laws, by 25% as well, and it cannot be increased. This law will make the tenants happy, but the homeowners will be sad
Now anxiety grips tenants and landlords alike. Will the 25 percent rent increase limit be extended or not? Some statements indicate that the 25 percent limit will be extended.
This can also happen with the law. Although the 25 per cent rent increase limit has been applied temporarily until 2 July 2023, there is no legal obstacle for the new Parliament to restrict it, extend it or make it permanent with a new law at the same or a different rate. Parliament convenes 3 days after the Supreme Council for Elections announces the final results.
How will the situation be after the elections?
In the event that Parliament agrees to specify a rent increase by a certain percentage after July 2, 2023, this will result in the following: The rent rate will increase before July 1, 2023 by 25%, then it will rise again after the percentage is determined by Parliament on July 2, 2023, and things will be mixed. Tenants and homeowners, and to avoid this situation, Parliament must determine the rate of increase well in advance of July 1, 2023, and talk about all aspects in Parliament.