The vast majority of landlords with rented houses believe that the Government will again limit rent increases in 2024, according to a survey by the Lisbon Owners Association (ALP).
“[…] More than 92% of the landlords surveyed believe that the Government will once again prevent rents from being updated under the terms of the law”, indicated, in a statement, the association, adding that, in 2024, “it will surely be greater than 7 %”.
Almost half of the owners defended that, if the Government intervenes again in this matter, “it will reflect on their continuity in this market”.
In turn, 42.4% said that their confidence will be shaken, but “they are already used to this type of arbitrariness”.
Still with regard to updating rents, 5% use other forms such as percentage rates or pre-established increases, while less than 1% have non-renewable short-term leases.
For 37% of owners, income losses and absorption of the impact of inflation should not fall on them, for the second consecutive year.
Thus, they argue that the Government should grant subsidies to needy tenants “who are unable to withstand increases in legal inflation on the value of their rent”.
According to the same note, 19.4% of respondents consider that the Government should sit down at the table with representatives of landlords and tenants to establish an agreement on updating rents for 2024.
“Updating rents to 2024 is yet another uncertainty that hovers over the lease […]. Thousands of Portuguese landlords were the only economic agents who suffered price fixing and will only be partially compensated for the brutal increase in the cost of living of 2023 in the 2024 IRS, with the announced tax credit which, as the ALP denounced, does not fully cover the losses”, said the president of the association Luís Meneses Leitão.