Is it legal for me to raise my rental price in 2023?

In 2023, the cost of renting your home can only go up by a maximum of 2%

It was established in a regulation approved extraordinarily in March 2022

In general, landlords can increase the rental price at the end of the lease term if it is allowed by law and if it has been stated in the lease. However, the new housing law makes it clear that there are maximums (or limits) that cannot be exceeded. And since it will be approved in a matter of hours, it is convenient to review this data.

Can you raise my rent in 2023?

Yes, they can raise the rental price of your home in 2023but as of this year there are some limits that the landlord or owner must comply with. The State Law for the Right to Housing includes:

• In 2023, the cap will be 2%. This maximum was already established in a decree approved extraordinarily by the Government in March 2022.
• In 2023, the maximum will be 3%.
• In 2025, an index based on the CPI, but lower and more stable, will be established.

The exception for which they can raise the rental price up to 10%

However, there are two exceptions for which the owners can raise the rental price up to 10%.

• If you own a property in a stressed areain the new contracts the rental price can increase up to 10% over the current rent in the past 5 years if it lasts for at least a decade.
• If the house has been rehabilitated in the last two years (complying with minimum energy efficiency and accessibility), the amount may also be increased.

It is important to carefully review your lease to see if there is a rent increase clause and what the specific terms are. Surely, many contracts will have to be reviewed by the new Housing Law.