Business And Markets

Rent Increases Over 25% Banned in Tehran

Latest data published by Central Bank of Iran show that during May 21-June 20, the price of rented residential properties in Tehran and across urban areas increased by 27.6% and 30.7% respectively compared with the similar month of last year
Rent Increases Over 25% Banned in Tehran
Rent Increases Over 25% Banned in Tehran

Tenancy agreements signed as of June 29 may not increase rents by more than 25% in Tehran and 20% rise in other large cities, President Hassan Rouhani said on Sunday. 
“As per the decision made by the National Taskforce to Fight Coronavirus, rent increases in other Iranian cities must not exceed 15% compared with that of last year,” he was quoted as saying by Hibna.  
In early May, the taskforce also approved a self-executing two-month extension of rental agreements with the termination date falling between February 20 and May 20 to control the spread of coronavirus and help tenants battling job and income losses during the pandemic. 
Courts were also required to not enforce penalty or evictions amid the outbreak while landlords and tenants were advised to be flexible in extending the lease contracts and scrap relocations to slow the spread of the virus.


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