by | Oct 26, 2023 | Fiscal, Owners, Rentals, Tenants

The Government, via the Housing Minister, Marina Gonçalves, announced today during the press conference of the Council of Ministers that it has decided not to apply any limit on updating rents in 2024 and approved an increase of 4.94% to support the monthly payment paid by tenants.

The monthly rent for long-term contracts can be increased by 6.94% in January 2024. Tenants with income up to the 6th IRS progressive tax bracket (up to €38,632) are eligible for monetary aid of up to 4.94% if the rent is more than 35% of their total income.

It is to be remembered that this increase applies to existing rental contracts that are renewed (not new contracts), and the owner must inform of the increase 30 days before it is applied, by registered letter.