What is the New Lease Regulation, When Will It Be Released? How Much Will The Rent Increase Rate Be?

While the exorbitant increase in rents has been on the agenda for a while, the button on the subject has been pressed. The last statement about the rent increase rate was made by Minister of Justice Bekir Bozdag. Minister Bozdag made a statement regarding the rental arrangement, 'We will make a determination on the rate, not on the amount. The final stage has been reached. "This will be a temporary arrangement," he said. In the last minute statement, he gave information about how the new rent increase rate will be determined and how long it will be valid. So, what is the new lease arrangement? What will the rent increase rate be in July? When and how will the lease arrangement be implemented? How will the rent increase rate be and how will it be calculated?

Rental regulation, which is one of the important issues that has been worked on recently, is expected by thousands of landlords and tenants. Minister of Justice Bekir Bozdag announced the limit of increase in rents.

THE INCREASE WILL NOT EXCEED 25 PERCENT

In the previous statements, it was announced that the new regulation was on the way to prevent exorbitant rent increases. The statement about the rent increase rate was made by the Minister of Justice Bekir Bozdag. Speaking at the “Reconciliation Award Ceremony and Symposium” held in Ankara, Bozdag included the sentence "The increase in rental agreements will not exceed 1 percent of the previous year until July 2023, 25". For example, with the new rent increase rate, an apartment with a rent of 1000 TL will be increased by 25 TL with a 250% increase. The new rental price will be 1250 TL.

HOW LONG WILL THE REGULATION BE?

The temporary regulation to be made in the Code of Obligations will cover a period of 1 year. Minister of Justice Bekir Bozdağ announced that the rate of increase in rental agreements to be renewed until July 1, 2023 is limited to 25 percent.

Minister Bozdag said, “In this arrangement, we have taken care to ensure that both of them are at a certain point without prejudice to the law of the tenant and the owner. I hope it lives up to expectations," he said.

FOUR MINISTRIES ARE WORKING

The work carried out jointly by Vice President Fuat Oktay, Minister of Environment, Urbanization and Climate Change Murat Kurum, Minister of Treasury and Finance Nureddin Nebati, Minister of Trade Mehmet Muş and Minister of Justice Bekir Bozdağ is expected to be completed in a short time and announced to the public.

Afterwards, in case of new conflicts between the tenants and the lessors, a new step will be taken in which the mediator formula will come into play in order to resolve this faster. Rental disputes will be resolved by a mediator rather than a court.