I can now only increase my rent by 0.6%. It used to be 2%!!!

L

landlord

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I haven’t paid too much attention to the format of the rent press zone calculator in the past as I have just filled it out and it’s always seem to have been allowing a 2% increase each year.
This year it seems that the increase has been restricted to a HICP (harmonised indices of consumer prices) at 0.6%
That’s approximately a €10 increase in rent allowed on €1600 monthly rent. Unless I’m doing something wrong, that’s absolutely shocking.
I’m hoping someone can confirm I’ve made a mistake
 
The allowed increase is 2% or inflation (which ever is lower). Inflation must be currently (officially anyway) running at less than 2% so you are getting the lower figure.
 
landlord said:
This year it seems that the increase has been restricted to a HICP (harmonised indices of consumer prices) at 0.6%
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But the annual % change to HICP was 1.5% to June 2024.

Where are you getting 0.6% from?

Edited to correct % change in HICP
 
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landlord said:
previous rent at 26/11/23
New rent set 26/11/24
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You cannot set the rent for a date in the future.

As far as I know you said the rent today and it applies after 90 days.

Choosing November gets you a strange result because there is no HICP data for the months of July to November yet so it is defaulting to June’s index number.
 
If the current rent was last reviewed on 26 November 2023, then you can’t review it again until 26 November 2024.

The earliest any rent increase can take effect is 90 days after it is reviewed.

If you were in a position to review today, then you could give notice of a 1.5% increase.

Edit: annual % change in HICP was 1.5% to June 2024
 
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In the past couple of years I never managed to reach 2 per cent with the calculator as there is often a delay with the loading of information on the calculator
 
My bad - I was looking at the wrong figure.

The annual % change in HICP was indeed 1.5% to June 2024.
 
I have a feeling I have been doing this wrong for many years.


First question is what does it mean the “date the rent was last set” ? If I gave them three months notice. Do I give the date that I initially gave them notice or the date the rent was actually changed and they started paying the new rent. I had always given the latter date here.
The same question to “the date the new rent is set”
My tenants should be paying new rent on 26/11/24, so that is the date given.
 
Premos said:
In the past couple of years I never managed to reach 2 per cent with the calculator as there is often a delay with the loading of information on the calculator
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The CSO only releases the HICP index for a given month on the second Thursday of the following month.

Whenever I’ve looked the RTB website it’s updated pretty promptly.
 
Dr Strangelove said:
The CSO only releases the HICP index for a given month on the second Thursday of the following month.

Whenever I’ve looked the RTB website it’s updated pretty promptly.
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I had longer delay than that a couple of times. Hicp index from January when I reviewed in mid March last year
 
That’s interesting.

RTB is generally useless so not surprising that they can’t update an online tool with a number once a month.
 
Well, inflation has been well over 2% for most of the last few years so I doubt it makes any difference.
 
Dr Strangelove said:
You cannot set the rent for a date in the future.

As far as I know you said the rent today and it applies after 90 days.

Choosing November gets you a strange result because there is no HICP data for the months of July to November yet so it is defaulting to June’s index number.
Click to expand...
Does the 90 day rule apply as standard?
 
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