Rental Increase Rate in Turkey for December 2024

In Turkey, rental increase rates are regulated under Article 344 of the Turkish Code of Obligations. This article aims to protect tenants while setting the limits for rental increases for both residential and commercial properties. The rental increase rate for December 2024 has been determined based on the data published by the Turkish Statistical Institute (TÜİK). The Consumer Price Index (CPI) for the twelve-month average as of November 2024 has been announced as 60.45%. Therefore, any rental increase in December must comply with this rate.

This article will provide examples of the maximum permissible rental increase rates for both residential and commercial properties for December 2024. It is crucial for both landlords and tenants who plan to renew their rental agreements to consider these calculations and act within the legal framework. Accurate determination of rental increase rates ensures that both parties avoid disputes and contributes to the sustainability of rental agreements in the long term.

Rental Increase Rate for Residential Properties: December 2024

The rental increase rate for residential properties is determined under Article 344 of the Turkish Code of Obligations, based on the twelve-month average CPI. As of December 2024, this rate is set at 60.45%. This limit ensures that rental increases remain manageable and do not cause undue financial strain on tenants. Therefore, it is mandatory for landlords and tenants to adhere to this rate in their rental agreements.

Example:

• Monthly rent for December 2023: 8,000 TRY

• Applicable CPI rate for December 2024: 60.45%

• Maximum allowable rental increase:

  
  

  8,000 TRY x 60.45% = 4,836 TRY (increase amount)

• New monthly rent: 8,000 TRY + 4,836 TRY = 12,836 TRY

In this example, the monthly rent of 8,000 TRY in December 2023 can be increased to a maximum of 12,836 TRY in December 2024. Such a regulated increase ensures that tenants are protected against excessive financial burdens while allowing landlords to rent their properties at a sustainable economic value.

Rental Increase Rate for Commercial Properties: December 2024

The same rental increase rate applies to commercial properties. The twelve-month average CPI rate of 60.45% can be used as the maximum allowable increase. This rate ensures that rental adjustments for commercial properties align with economic conditions, maintaining balance and sustainability in the landlord-tenant relationship.

Example:

• Monthly rent for December 2023: 15,000 TRY

• Applicable CPI rate for December 2024: 60.45%

• Maximum allowable rental increase:

  
  

  15,000 TRY x 60.45% = 9,067.5 TRY (increase amount)

• New monthly rent: 15,000 TRY + 9,067.5 TRY = 24,067.5 TRY

In this scenario, the monthly rent of 15,000 TRY in December 2023 can increase to a maximum of 24,067.5 TRY in December 2024. This regulated rate supports tenants in maintaining their business operations while allowing landlords to lease their properties in accordance with current market conditions.

Legal Regulations and Points to Consider

Under Article 344 of the Turkish Code of Obligations, the rental increase rate cannot exceed the twelve-month average CPI rate announced by TÜİK. This legal framework aims to protect tenants from excessive rent increases while ensuring that landlords can lease their properties in line with market standards.

Disputes between landlords and tenants over rental increases may be resolved by a court, which will determine the rent increase rate based on the twelve-month average CPI, without exceeding this legal limit. To avoid disputes, it is essential for both parties to communicate clearly and comply with the legal provisions when renewing rental agreements.

Conclusion

For December 2024, rental increases must adhere to the CPI rate of 60.45%, as announced by TÜİK. Both residential and commercial properties must comply with this legally mandated rate in accordance with Article 344 of the Turkish Code of Obligations. By following this framework, tenants are protected from excessive rent increases, while landlords’ rights are safeguarded within the legal boundaries.

When renewing rental agreements, it is essential to base the calculations on the announced CPI rate to prevent potential conflicts between the parties. Clear communication and transparency between landlords and tenants are key to maintaining a healthy and sustainable rental relationship. By adhering to these legal regulations and fostering mutual trust, rental adjustments can be carried out in a way that satisfies both parties, ensuring the longevity of the rental agreement.