Rent increases would be limited to once a year

Rent would be allowed to increase only once during any 12-month period under proposed rule changes announced by Iceland’s Minister of Education and Children, Inga Sæland, mbl.is reports.

Sæland announced the plans at a government press conference at the Cabinet House on Tuesday, where the coalition parties presented their priorities for the coming parliamentary session.

The government intends to ban monthly index-linked increases in rent. “Rent will only be allowed to increase once in each 12-month period,” Sæland said.

She said the change would provide tenants with greater security and predictability, particularly those with the least financial resources and the fewest opportunities to respond to sudden increases.

“People’s homes should not be a source of constant financial fear,” Sæland said.