Has the rent increase limit been extended? When does the 25% rent increase end?

With the announcement of the inflation figures, the rate of increase in rents, which is evident every month, was set at 25 percent last year. A 25 percent increase limit will be extended to the rent, which will expire in July. Justice Minister Yılmaz Tunç made a statement on the 25 percent rent increase limit.

IS THE 25 PERCENT RENT INCREASE EXTENDED?

Justice Minister Yılmaz Tunç declared that from July 2, 2023 to July 2, 2024, the upper limit of the rent increase rate will be applied by 25 percent for one year.

Tunç made statements about the execution of the lease and the real estate purchase and sale contracts at the notaries.

Minister Tunç recalled that the regulation that imposes a 25 percent increase limit on rents was made last year and that it has a one-year term, and has specified that this term will expire on July 1.

EXTENDED BY 1 YEAR

Tunç stated that a new decision should be made in line with the demands regarding the rental agreement, and President Recep Tayyip Erdoğan announced this agreement at his party’s Parliamentary Group Meeting yesterday, adding: “On July 1, included in last year’s deadline. Starting July 2, 2023 and ending July 2, 2024, the rent increase on residential rents will be applied as a maximum limit of 25 percent for one year.

Noting that, as the Ministry of Justice, they have completed the technical work on rent regulation, Tunç said that the regulation will come to the agenda of Turkey’s Grand National Assembly.

Minister Tunç has indicated that this issue will be one of the first works of the Assembly after the party and that the regulation will be promulgated with the law bag that will be presented.

LANDLORD AND TENANT DISPUTES

Noting that some complaints from citizens about exorbitant rents were received and that they could not be ignored, Tunç said that the Ministry of Commerce took some measures regarding exorbitant prices. Yılmaz Tunç recalled that sanctions for exorbitant prices were made before.

Stating that mediation in rental disputes will become a condition of litigation from September, Justice Minister Tunç stated that these disputes will be resolved peacefully without going to court. Minister Tunç has stated that they want the disputes between the landlord and the tenant not to deepen.

REAL ESTATE SALE BY NOTARY STARTS ON JULY 4

When giving explanations about the practice of making real estate purchase and sale contracts at notaries, Tunç recalled that legal regulations have been made on this subject.

Stating that the new application will reduce the density in property registry offices and allow citizens to complete their transactions in a shorter and faster time, Tunç continued as follows:

“As of July 4, it will be possible to sell real estate and buy and sell real estate in our notaries. This is important. Our notaries are also open on weekends with the request for a notary on duty. Therefore, while the sale of real estate can only be carried out during the week in the deed offices, since this opportunity is available in the notaries, the sale of real estate will also take place on weekends”. (AA)