The inflationary effect felt by the country this year could be transferred to 2023 with a strong impact on the prices of various services such as rental, which historically it rises based on the amount of inflation caused, as established in article 20 of Law 820 of 2003.
(What you should know about the rental rate adjustment).
However, the high inflation, which in its annual variation for November exceeds 12.53%, worries many, and even from the construction sector it is proposed that the way in which rental fees are set be reassessed, through of concerted increases.
“We want agreements to actually be carried out because we know of the social problem that exorbitant increases can become or that suddenly the royalties will exceed the real values of a lease”the president of Fedelonjas, Karina Reyes, told Blu Radio, who proposes that there be a negotiation between the tenant and the landlord so that the increase is lower than inflation.
(Rentals rise in the country: this is how the rental price will remain).
By law, landlords have inflation as a ceiling for rent increases.
It should be noted that not all leases have an immediate increase, since the adjustment must be applied at the moment in which each lease, already signed, It will be renewed during 2023.
The impact could be felt more strongly for people whose rent is due in the first quarter, because inflation is expected to start to subside over the next year.
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