Rent Pressure Zone Formula:
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The Rent Pressure Zone (RPZ) calculator determines the maximum allowable rent increase in designated areas of Ireland. The increase is capped at the lower of 2% or the Harmonised Index of Consumer Prices (HICP) rate.
The calculator uses the RPZ formula:
Where:
Explanation: The calculation ensures landlords in RPZs cannot increase rent by more than 2% per year or the HICP rate, whichever is lower.
Details: Accurate rent increase calculation is crucial for both landlords and tenants in Rent Pressure Zones to ensure compliance with Irish rental laws and prevent unlawful rent hikes.
Tips: Enter current rent in euros and the HICP increase rate as a percentage (e.g., 1.5 for 1.5%). Both values must be positive numbers.
Q1: What are Rent Pressure Zones?
A: RPZs are areas in Ireland where rents are highest and rising fastest, with special rules limiting rent increases to protect tenants.
Q2: How often can rent be increased in RPZs?
A: Rent can only be increased once every 12 months in Rent Pressure Zones.
Q3: Where can I find the current HICP rate?
A: The HICP rate is published by the Central Statistics Office (CSO) Ireland on their official website.
Q4: Are all rental properties subject to these rules?
A: No, only properties in designated Rent Pressure Zones. Newly rented properties (first tenancy) and certain other exceptions may not be covered.
Q5: What if my landlord increases rent by more than allowed?
A: Tenants can dispute unlawful increases with the Residential Tenancies Board (RTB) in Ireland.