ARTICLE 344 - The agreements of the parties on the rental price to be applied during the renewed lease periods are valid provided that it does not exceed the rate of increase in the producer price index in the previous lease year. This rule also applies to leases of more than one year.
If an agreement on this issue has not been concluded by the parties, the rental price is determined by the judge according to equity, taking into account the situation of the lessee, provided that it does not exceed the rate of increase in the producer price index of the previous lease year.
Regardless of whether an agreement has been concluded by the parties in this regard, in leases renewed after five years or after five years and at the end of every five years thereafter, the rental price to be applied in the new lease year shall be determined by the judge in accordance with fairness, taking into account the rate of increase in the producer price index, the situation of the lessee and the precedent rents. The rental price determined in this form in the year of the lease after every five years may be changed according to the principles set out in the preceding paragraphs.
Ifthe rental price is agreed in foreign currency in the contract, then no change in the rental price can be made unless five years have passed. However, Article 138 of this Law, entitled “Excessive difficulty of performance”, is reserved. In determining the rental price after five years have elapsed, the provision of the third paragraph is applied, also taking into account changes in the value of foreign
currency.
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