The Rent Increase Rate Cap is Set to 25% for Housing Rentals

Certain amendments are made in Turkish Law of Obligations no. 6098 and Attorneyship Law no. 1136 with the “The Law on the Amendment of the Attorneyship Law and Turkish Law of Obligations” numbered 7409 which has published and entered into force with the Official Gazette dated 11 June 2022 and numbered 31863.

With the provisional article added to the Turkish Law of Obligations no. 6098, only being limited for the housing rentals, the rent increase rate cap to be applied to rentals is determined as 25% for the rental periods to be renewed between the dates of 11/06/2022 and 01/07/2023 (this date inclusive). In the case that the twelve-month average of the consumer price index (TÜFE) of the previous rental period would be under the designated rate of 25%, the rent increase rate cap for the renewal period shall not exceed the 25%.

It is important for the parties to the rental contracts to fulfil their obligations pursuant to the mandatory rules of the Turkish Law of Obligations and act in accordance with the changes in the legislation in this regard.

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