rose2015

Can you please tell me how do I increase the monthly rent on a property I rent out. The increase is due in June, I want to do it correctly using the CPI but not sure how to go about it. We stated that rental increase would be in line with the CPI.

Loafing Along

The normal way is a letter advising of the increase inline with Clause .... of the contract

In Spanish it is the IPC not CPI and you can find the data using the Instituto Nacional de Estadistica .
INEbase / Nivel y condiciones de vida (IPC) /Índices de precios de consumo y vivienda /Índice de precios de consumo / Últimos datos

spainrico

Rents have gone up way above the general inflation level. This clause was in my contract but I had no choice but to agree a market level rent. Huge demand for rentals in popular areas.

rose2015

So according to the ipc how much can we increase a 600 per month rent. The renters agreed to this in the contract.

Loafing Along

From the IPC tables the interannual 2017 increase was 1,1 % , 2016 was 1,6%.

February 2017 - February 2018 it was 1,1 %

https://www.datosmacro.com/ipc-paises/espana

On a Euro 600 rental that means Euro 6,6 a month

missile

Is it really worth the hassle?

I would rather have a happy long term tenant than an extra 6.60€ / month. I would suggest you review the rent when tenant moves out.

jonboy

Sounds like goodwill would be more valuable?

rose2015

Thank you for all the replies. My tennants get plenty of goodwill, electricity included plus we go and see to their pets when they are away.

Dave n Dee

Not really worth the hassle?
If they decide to move out and you may just get a new tenant who turns out to be a bad one!
I would rather have a happy long term tenant than an extra 6.60€ / month. I would suggest you review the rent when tenant moves out.

spouse of scouse

I couldn't agree more.

dougal03

Just be pleased you have a good tenant.I used to rent out an apartment long term & people thought I was mad as my tenants included an Algerian,a Dutchman,a south American couple a Romanian etc. but I had a fixed sensible rate & with good fixtures & with everything to use & with a legal contract.Not one failed to pay as arranged.But I believe you should treat others as you would hope is reciprocated