A few hours ago, Dane revealed the CPI for the month of December 2024 and also the value that inflation reached in Colombia during the last twelve months. In this context, the country’s residents consult When there may be a modification in the rent payment and of course the amount you must pay.
In January the value you pay for your accommodation will not increase. This will have to be done during the renewal of the contract and when at least 12 months have passed.
For example, if you have the renewal in April 2025, from that moment on the owner of the property will increase the rate.
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In this regard, it must be taken into consideration that the figure should not exceed 100% of the amount presented by DANE on January 9, which indicates that inflation in 2024 reached 5.20%. For all of the above, the increase would not exceed the previously indicated value.
If you currently have a contract close to $1,800,000, you will have to add the 5.2% increase, which is $93,600. In this way the price will be $1,893,600.
Do not forget that in these situations the owner will have to leave you a written note mentioning from when you must pay the new amount.
What happens if the tenant charges you more than what is stipulated?
When do you have to pay the rent increase?
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In the event that the owner of the property make the decision to charge more money than allowed, you have to know that it is an illegal matter, since in the country the laws provide protection for all tenants.
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If you face such a situation, it is recommended that you attend the Superintendence of Industry and Commerce with the intention that you can receive advice and support in this process.
