How do we Calculate Increase in Rent ?
In Turkey rent increase rates are regulated by law and it allows you the maximum increase rate of consumer price index ( Avarage of last 12 months ) . Before two months from the end of a rental agreement the owner has to make contact with the tenant to ask whether the tenant continue to rent or leave. If the answer is continue then the owner and tenant have to agree on a rent increase amount. The owner has right to make increase by the rate of consumer price index ( Avarage of last 12 months ) however sometimes the rental market becomes low and there could be cheaper properties same as yours in that time it is the matter of negotiation. We advise our members not to lose the tenants for small amount of difference in increase in rent if the tenant is regular payer on time. You could check the updated consumer price index from the link below;