1. What is the Rent Increase Calculator?

The Rent Increase Calculator helps landlords and tenants in Ireland's Rent Pressure Zones determine the maximum allowable rent increase based on current rent and the Harmonised Index of Consumer Prices (HICP) rate.

2. How Does the Calculator Work?

The calculator uses the Rent Pressure Zone formula:

Where:

• \( \text{Current Rent} \) — The existing rent amount in euros
• \( \text{HICP Rate} \) — The annual percentage change in the Harmonised Index of Consumer Prices
• \( 0.02 \) — The maximum allowable increase (2%) in Rent Pressure Zones

Explanation: The calculation ensures rent increases in designated zones don't exceed 2% per year or the HICP rate, whichever is lower.

3. Importance of Rent Pressure Zones

Details: Rent Pressure Zones are areas in Ireland where rents are rising quickly. Special rules apply to limit rent increases to 2% per year or the HICP rate, whichever is lower.

4. Using the Calculator

Tips: Enter current rent in euros and the HICP rate as a percentage (e.g., 1.5 for 1.5%). The calculator will determine the maximum allowable new rent under Rent Pressure Zone rules.

5. Frequently Asked Questions (FAQ)

Q1: What are Rent Pressure Zones?
A: These are areas in Ireland where rents can't increase by more than 2% per year or the HICP rate, whichever is lower.

Q2: How often can rent be increased?
A: In Rent Pressure Zones, rent can only be increased once every 12 months.

Q3: Where can I find the current HICP rate?
A: The Central Statistics Office (CSO) publishes the HICP rate for Ireland.

Q4: Does this apply to all rental properties?
A: No, only properties in designated Rent Pressure Zones and not exempt for other reasons.

Q5: What if my property isn't in a Rent Pressure Zone?
A: Different rules apply. Rent increases must still be fair and reasonable, but aren't capped at 2%.