The Ministry of Housing has created a calculator in which tenants will be able to find out what is the maximum price to which they can update the rent, depending on the rent they pay and the date of their contract. “The tool details the maximum price at which the rent can be updated in the current month, using the update formula that corresponds to the type of contract,” they explain from the department headed by Isabel Rodríguez in a note.
This new tool is published on the same day that the National Institute of Statistics has announced the first rate of the new reference index for housing rentals, with which the Government wants to “avoid disproportionate increases” in rent, when inflation is triggered, by disabling the updates of this indicator. Thus, contracts signed after the entry into force of the new housing law, in May 2023, that have to be reviewed in January may increase by up to 2.2%.
The Housing simulator will allow us to differentiate between these contracts and those signed previously, to which the index does not apply, which is activated with inflation above 2%. Thus, an income of 800 euros from a contract prior to May 2023 could rise to 819.2 euros per month, while those after or subject to the INE formula is 817.60 euros.
For the new price index, which will be updated month by month, the INE will use as a limit for the annual update of the contracts the minimum value between the annual variation rate of the CPI, the underlying and the adjusted average annual variation rate, in addition of an estimate from Economy and a coefficient established by Housing.
The calculator is available on the website of the Ministry of Housing and Urban Agenda, through this link.
#Housing #creates #calculator #find #rent #raised #contract
