Will I be able to increase the price of my rental apartment in 2024?

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This 2023, the rental price has been limited to annual periods and with a cap of 2%, but now that there are only days left to change the year, it is normal as an owner to ask yourself, can I increase the price of my apartment for rent in 2024 ? In today's article we will find out.

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Housing Law: What does it say about raising the price Latvia Phone Number List of my rental apartment in 2024?
The objective of the Housing Law is to promote access to housing, increasing the supply of rental housing and reducing prices , which is why as an owner you must be attentive to its general measures and those that your autonomous community decides to apply, since that not all of the proposals are implemented equally.

The Housing Law brought with it the cap on rental prices, which in 2023 was 2%, but will change next year. As an owner you can increase the price of your rental apartment in 2024 up to 3% . Of course, remember you can only increase the price of your rental apartment if it is stipulated in the rental contract. Furthermore, this increase must be made only once a year and you must notify the tenant one month in advance of the compliance date. contract.

Our Housfy Rentals owner manager, Anaïs Serrano, explains in the following video in which situations the rental price of a home cannot be increased:


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Increase the price of my apartment for rent in 2024 according to the CPI
The Consumer Price Index (CPI) is used as a reference indicator to determine the fair price of rentals , that is, when you have updated the rental contract for your tenant, it has been based on the CPI.

This implies that the price of rentals will rise or fall depending on whether the CPI does so.

To calculate the increase or decrease in the rental price, you must apply the CPI published two months prior to the update date . For example, if you update your rental contract in December , your reference CPI will be the one corresponding to the month of October .




Although now, as a result of establishing caps on rental prices, the relationship between the CPI and the rental price of a home is not so strict. When the CPI is higher than the established rent limit, in this case 3% from 2024 , the increase in rent cannot exceed this limit, therefore, the rental price will be a maximum of 3%. On the contrary, if the CPI is less than the rent ceiling, the increase in rent may not exceed the value of the CPI on the update date.