Tenants will again suffer a new record increase in rental prices during the month of September. The Rent Law establishes that every 12 months they have to increase in a percentage according to inflation and salaries, so the readjustment will have a strong impact on the pockets. In this case, the increase will be at least 60%, applicable to those who started their contract or designated the update date during the ninth month of the year.

August was marked by a rise of more than 60%, and the situation is expected to worsen in September. From real estate they take for granted that the increases will impact the price of expenses and services.

Rent increase: How to calculate the increase?

The increase in the rental price is calculated using National Law 27,551. The rule establishes that the contracts last at least three years and that the values ​​increase according to a formula that is calculated “using an index made up in equal parts of the monthly variations of the Consumer Price Index (CPI) and the Average Taxable Remuneration of the Stable Workers (RIPTE)”.

As inflation does not stop increasing, this formula will show a rise of at least 60% in the rental price for the month of September.

To calculate the increase in the rental price, owners and tenants must consult the Index of Leasing Contracts (ICL) published daily by the Central Bank on the official website (http://bcra.gob.ar/).

It is an indicator that considers in equal parts the variation in inflation (according to the CPI measured by the Indec) and wages, according to the average remuneration of stable workers (Ripte), whose mandatory nature was introduced in the market with the new rental law.