How much can my landlord raise my rent starting in 2023? there is a limit

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With little more than a month to go until the end of the year, there are many people in Spain who live off rentalespecially groups such as university students, workers in large cities, as in the case of Madrid, Barcelona, Valencia either Sevilleor simply those who cannot or do not want to access a home at the moment, those who are wondering now: How much can my landlord raise my rental price from 2023? Well, this question makes a lot of sense, especially if one takes into account the high rate of inflation, which moderated to 7.3% in October, but which, nevertheless, last August broke the barrier of two figures, with 10.4%, something that had not happened in the last thirty years.

There is a limit to the rental price set by the Government

The first thing to keep in mind is that the recent approval in Congress of the new General State Budgets, supposes the rent cap at 2%, at the latest, from January of next year. The Executive led by Pedro Sánchez agreed with EH Bildu extend the limit of the rental price for another year at 2%, currently in force, which will also be extended for the next twelve months. To better understand this measure, we must go back to March, when the Government approved the extraordinary limitation of the annual update of the rent of housing lease contracts.

In other words, those owners who had a rented apartment, and whose contract was to comply with its annual renewal, could not raise the rent to their tenants by more than 2%. This was reflected in the BOE through the publication of Royal Decree-Law 11/2022, of June 25. Therefore, if today in the contract between landlord and tenant there is a monthly payment of 600 euros, and the renewal term is met, the ceiling that could be raised would be set at 12 euros more each month. That is, 612 euros per month.

Precisely in this sense, it should be noted that until March of this year, the law allowed owners to raise the price of the rental contract, according to the rise in inflation. However, because it is skyrocketing, as its evolution has been seen over the last six months, if it were so, it could mean a significant outlay for the pockets of almost 3.5 million renters in Spain, according to calculations estimated by the Ministry of Transport, Mobility and the Urban Agenda, led by Raquel Sánchez. So if we use the aforementioned example, in the event that the renter had to renew his rent during the month of October, instead of paying 612 euros, due to the 2% cap, he would spend almost 44 euros. To be more exact, 43.8 euros, coinciding with the 7.3% inflation marked in October.

Source: lainformacion.com

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