The Federal Council has opened a public consultation on an amendment to the Ordinance on Residential and Commercial Leases (OBLF). The amendment aims to specify the calculation of the permissible rate of return in tenancy law, clarify the application of recent Federal Supreme Court case law, and thereby increase legal certainty. The consultation period runs through June 5, 2026.
The project is based on Article 269 of the Swiss Code of Obligations, which prohibits excessive rent when the leased property generates an excessive return. However, the law does not distinguish between net and gross returns, nor between current income and investments that generate capital appreciation. These distinctions stem from the case law of the Federal Supreme Court and have given rise to several landmark rulings in recent years. It is now necessary to define them precisely by ordinance in order to preserve the uniformity of the system.
The project aims to define the yield that can be considered eligible based on the current reference interest rate, which requires an amendment to the OBLF. In particular, it provides for the inclusion of the following clarifications:
· Up to a reference interest rate of 2%, a surcharge of 2 percentage points remains permissible, in accordance with the case law of the Federal Court.
· Starting at a reference interest rate of 2.25%, the allowable surcharge is reduced in increments of 0.25 percentage points. This helps, on the one hand, to avoid an abrupt change in the system and, on the other hand, to smooth out rent increases.
· Starting at a reference interest rate of 6%, the surcharge remains unchanged at 0.5 percentage points. This ensures that the interests of both tenants and landlords are taken into account.
· The concepts of gross return and value-added investment are clearly defined and aligned with recent Federal Supreme Court case law.
· The calculation of interest and depreciation for investments that generate capital gains is specified, particularly with regard to the capitalization rate, the useful life, and the inclusion of routine maintenance costs.
The amendment improves legal certainty and predictability for tenants and landlords. The consultation period will end on June 5, 2026.
Source: news.admin.ch
