Tenants in Colombia must prepare for an adjustment in the value of lease contracts in 2025, which will be determined by the inflation recorded at the end of 2024, which was 5.2%, according to the National Administrative Department of Statistics ( Dane). This percentage establishes the maximum limit for the annual increase in the rental fee, a measure that seeks to protect the purchasing power of citizens and guarantee stability in rental contracts.
The adjustment is added to other economic increases that will impact the pockets of Colombians in the new year, such as transportation and EPS co-payments.
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Likewise, it should be taken into account that the calculation of the rent increase is done by applying a very simple formula. For example, If the monthly fee is $1,500,000, the allowed increase would be $78,000, which would raise the new value to $1,578,000. The adjustment, however, can only be applied when the contract is one year old, which means that not all tenants will face the increase at the beginning of the year, but on the date corresponding to the anniversary of their agreement.
This calculation is essential so that both landlords and tenants can adjust the values fairly and in accordance with regulations. Additionally, it allows tenants to anticipate the financial impact these adjustments will have on their personal finances.
The lease contract is a legal document through which a person, known as the landlord, transfers the temporary use of a property to another person, in this case the tenant, in exchange for a periodic payment. The payment, called the rental fee, must be adjusted each year based on inflation, but under strict legal conditions.
The increase cannot exceed the inflation percentage of the previous year, which in this case is 5.2%. Furthermore, the adjustment can only be made on the date on which the contract reaches one year of validity.
For example, If a tenant started the contract in February 2024, the lessor may apply the increase only in February 2025. Trying to make the adjustment before that date or exceeding the allowed percentage constitutes an infraction that can be reported to the competent authorities.
In the event that a landlord attempts to apply an increase greater than permitted or does so outside the established time, tenants have the right to file a formal complaint.
Complaints can be directed to the Secretary of Habitat, where a written request must be submitted detailing the irregularity.. If it is proven that the landlord failed to comply with the regulations, they could face sanctions imposed by the Financial Superintendency.
Of course, the complaint mechanism seeks to protect tenants from potential abuse and ensure that adjustments to lease agreements are made fairly and in accordance with the law. It is important that citizens are informed about their rights and the legal tools available to enforce them.
Without a doubt, one of the sectors most sensitive to the variation in the CPI is rentals. According to data from Dane, 40.3% of households in Colombia live in rent, which represents more than 21 million people. This percentage highlights the importance of the CPI increase, since lease contracts are usually adjusted annually based on this figure.
This variation, although expected, can generate adjustments in family budgets, especially in low- and middle-income households.
In this regard, the commercial manager of Fincaraiz, Lina Torres, stated that “during 2024, 217 million visits were made to the rental platform, which shows a growing demand for rental housing.” He noted that the most searched cities were Bogotá, Medellín, Cali, Bucaramanga and Barranquilla, which stood out for their economic dynamism and job opportunities.
