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how much contracts will increase in June 2024

how much contracts will increase in June 2024

Rental contracts signed under Law No. 27,551, which update rental prices annually through the Rental Contract Index (ICL), will rise below inflation, but will suffer a record increase. How much progress will be?

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The rental contracts signed under law No. 27,551which update the rental price annually through the Lease Contract Index (ICL), will suffer an increase of 233.7% in June in front of a stage inflation year-on-year that is beginning to slow down, but in April it was at 289.4%. For May, an index of 4.6% to 7.5% is expected for that month.

With the increase of 233.7%if a tenant was currently paying $100,000 will now pay $333,700. Although, if the contract ends, the owner can request a different amount for renewal.

The ICL is the indicator prepared by the Central Bank and is made up of the variation in the price and wage index.

Rentals with the Casa Propia index: how much does it increase?

In June there will also be semiannual updates Through the index of Own house for the latest housing rental contracts signed under the modification of the law which was carried out by Congress in October of last year and promulgated that same month by the now former president, Alberto Fernandez.

We detail that they will be the last because that modification of the rental law It was very short-lived. The government of Javier Milei repealed it in December with the mega DNU. There it was contemplated that the increase would be semiannual instead of annual, but with a new indexing index called Own house. The prohibition of publish properties in dollars and that the agreements between parties are exclusively in national currency.

The formula is based on the lowest indicator between average salary variation and the inflation during the semester. Likewise, a limit of 0.9 is incorporated, which is equivalent to 90% of the lowest indicator.

The increase in this index in June will be 56.5%. That is, if a tenant began their contract by paying $150,000 in June, they must pay $234,750.

It should be noted that the new rental contracts are no longer compulsorily governed by the ICLbut the parties are “free” to decide the index that they like for indexing, nor are they annual – they decide this prior to the contract – since the repeal of the rental law promoted by the Government of Javier Milei deregulated housing rental contracts.

Source: Ambito

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