6.94% rent cap in 2024
The maximum increase on rents that landlords can charge tenants has been set at 6.94% for 2024. This percentage has been fixed under the New Urban Rental Regime (NRAU) and the coefficient is the result of the average inflation rate over the past 12 months (not including on housing) registered on the previous August 31.
The so-called ‘old rents’, which will not for now transfer to the New Urban Rental Regime – NRAU, may eventually be updated based on the inflation-indexed coefficient.
According to the law, house renters with housing rental contracts signed before 1990 will find their rents updated based on a coefficient following the inflation index which will be used to update rents in 2024 for other housing rents.
In the case of ‘old rental’ contracts, landlords will be able to apply for monthly compensation from July, 2024.
Landlords who intend to update the value of their rents based on the defined coefficient will have to inform their tenants giving 30 days notice, providing at least a year has passed since the last update in rental charges.
The landlord must do this in writing via a registered letter signed for on reception. They may also deliver the intention to increase the rent by hand and get the tenant to sign for receipt of the letter.