Rent will increase by four percent this 2024 under the Rent Control Act, according to the Department of Human Settlements and Urban Development (DHSUD).

The four percent increase applies only to tenants who pay rent of P10,000 and below. This adjustment covers residential units, dormitories, and bed spaces.

There are more than 2.70 million renters falling within the P10,000 bracket, according to DHSUD data.

"Kung nangungupahan tayo for the purpose of industrial, commercial, and the like [ay] hindi po 'to covered ng rent control," Usec. Henry Yap from DHSUD, said.

The rate increase is a one-time adjustment for the year. It will not be immediate and should follow the terms of existing contracts.

"Kunwari meron tayong kontrata ngayon at 'yung kontrata natin nagsimula middle of last year to middle of this year, hindi puwedeng dagdag immediately ng four percent," Yap said.

The adjustment is effective until December 31, 2024.