From short lets to regulated rent: the +20% of the 2025 agreement

What the 2025 agreement says

Among the aims of the agreement signed on 15 December 2025 is to “favour the return to the traditional housing market” of homes that ended up in short lets. The tool is art. 9.2.A: for these homes “a rent increase of up to 20% is allowed”. The conditions:

• it applies only to ordinary regulated leases: the 3+2 and longer terms (4+2, 5+2, 6+2);
• in the year before signing, the home must have been genuinely used as a B&B, holiday home or flat, guest rooms (affittacamere) or short let;
• the landlord must prove it;
• it is an “up to”: a lower increase, or none, can be applied;
• like all the 2025 increases, it is added to the others, applied once only to the minimum and the maximum of the band and lasts for the whole term of the lease.

A home coming from short lets is often already furnished. With full furnishing (up to 22%) and the return from short lets (up to 20%) the two percentages are added together. Watch the conditions for furnishing: the kitchen must have an oven, a hob and a fridge, and the list of furniture must be attached to the lease. Without a furnished, complete kitchen, furnishing gives no increase; indeed, read literally, the text says that in that case “no increase” at all can be applied. Whether this also affects the return from short lets is unclear: ask whoever issues the certificate.

What the text does not say

• Which proof. The agreement only asks the landlord to “prove” the use. A short let leaves many traces: listings with the CIN code, bookings and payments on the platforms, the tourist tax, the tax return. Which ones are enough the text does not say: before signing, ask whoever issues the certificate of compliance (attestazione di rispondenza) which proof they accept.
• Which year. The text says “in the year before the signing”, but does not specify whether it is the previous calendar year or the twelve months before signing.
• How much use. There is no minimum number of nights or months: the text only says “genuinely used”.
• Under which agreement. The increase exists only in the 2025 agreement. The 2022 agreement, which the City publishes as still in force and which, as we read the texts, can be chosen for a new lease, does not provide for it (see 2022 or 2025 agreement). The lease and the certificate must cite the same agreement, and the certificate is issued by an association that signed the 2025 agreement or has adhered to it.

And if I choose the transitional lease?

The return-from-short-lets increase does not apply to the transitional lease. Under the 2025 agreement, however, the transitional lease has its own increase, also up to 20%. In return it requires a real, documented temporary need, of the landlord or the tenant: a home does not become transitional because the landlord does not want to commit it for years. The rules are in the article on the transitional lease.

On the comparison between transitional and tourist lets we have also written about why in Trieste, in many cases, a transitional lease is a better deal than tourist lets.

The rules for short lets today

• What it is. For tax purposes a short let is a residential lease of up to 30 days, including linen and cleaning, made by a private individual outside a business activity.
• Cedolare secca. It is 21% for one home only, the one indicated in the tax return, and 26% for the second.
• Two flats. From 2026 the regime applies to at most two flats: beyond that, the activity is presumed to be run as a business.
• CIN. The national identification code must be displayed outside the building and written in every listing. Without a CIN the fine is €800 to €8,000; if you do not display it or write it, €500 to €5,000, with removal of the listing (unless the same violation is already punished by a regional rule).
• Safety. Gas and carbon monoxide detectors, and fire extinguishers, are required.
• Tourist tax. In Trieste in 2026, in short-let properties, it is €2.30 per person per night, up to 5 consecutive nights. Those exempt include minors under 18.

Short let or regulated 3+2: what changes

We do not give you average figures: the result depends on the home, the area, the seasons and the work you put in. Here are the differences in the rules.

There is also a flip side. A 3+2 lasts at least three years. At the first expiry, if the parties do not agree, it is extended by law for another two, unless the landlord wants to use the home, carry out works on it or sell it in the cases provided by law (arts. 2 and 3 of Law 431/1998). The home stays committed for a long time. What happens at expiry we explain in renewal and ISTAT.

The right comparison is not the rent against the gross takings: it is what is left at the end of the year, after taxes, costs, empty nights and time. The calculator gives you the regulated-rent range for your home, return from short lets included; the takings from short lets you know yourself. The tax details are in cedolare secca and ILIA.

Moving to regulated rent, in practice

1. Gather the proof of tourist or short-let use in the year before signing.
2. Calculate the range with the calculator, indicating the return from short lets and the furnishing.
3. Choose the agreement: for the +20% you need the 2025 one. Assistance or the certificate comes from an association that signed it or has adhered to it.
4. Write the lease on the ministerial model for the ordinary lease, Annex A, with the list of furniture attached.

If you want to do the sums for your home, with your short-let figures next to the regulated-rent ones, we will do them with you.