Sunday, January 7, 2024, 2:36 p.m.
Renting a home is one of the most chosen options among those who want to become independent or access a home. However, the rise in prices that the real estate market is constantly experiencing and economic instability make it increasingly difficult to afford to rent a home, especially due to the high demand that exists.
To try to solve this problem that affects thousands of people in our country, on May 26, the Housing Law came into force, which was published in the Official State Gazette (BOE) as Law 12/2023, of May 24.
A project developed by the Government “to increase the supply of housing at affordable prices, prevent tense situations from occurring in the rental market and support young people and vulnerable groups in accessing housing.”
Among all the points it includes, such as that the expenses and fees incurred for renting a home must be borne by the owner and not the tenant, it also includes a limit on the rental price to avoid large increases in prices. And this law stipulates the maximum percentages that landlords can raise for their renters during the year. For example, during 2023 this limit was 2%.
What is the maximum that your landlord can raise your rent in 2024?
Although in 2023 the limit was 2%, with the arrival of 2024, this percentage will experience a small increase and will stand at 3%. That is, if you are paying 900 euros, your rent will be increased by 27 euros, which will make you pay 927 euros per month, which in annual terms would be 324 euros more.
On the other hand, starting in 2025, it is expected that this increase will be linked to a new reference index for the annual update of lease contracts, in order to replace the CPI and avoid “disproportionate increases in rent.”
Furthermore, this increase is only related to the rental price, so it is prohibited to increase rents through other expenses that the tenant must face, such as the community fee or the garbage rate.
#landlord #raise #rent
