Certain amendments were 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. These amendments were made 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 was 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%. These amendments were posted with our legal alert dated 12/06/2022.
As per the Article 23 of the “The Law on the Levying of Additional Motor Vehicles Tax for the Recovery of Economic Losses Caused by the Earthquakes Occurred at the date of 6/2/2023 and Amendment of Certain Laws and Decree Law no. 375” numbered 7456, which has published and entered into force with the Official Gazette dated 15 July 2023 and numbered 32249, that has stipulated the Provisional Article 2 under the Turkish Law of Obligations no. 6098 which reads, once again 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 02/07/2023 and 01/07/2024 (this date inclusive). Hence the application of the rent increase cap of 25% that is in force for housing rentals has been extended until the date of 01/07/2024.
It is important for the parties to the housing 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.