It's an acronym that may not speak to you, especially if you are looking to buy rather than rent a home.
It stands for “Rent Benchmark”.
This index indicates the maximum increase that landlords can apply to the rent they charge tenants.
In the first quarter, it climbed 2.48% compared to the first three months of 2021, according to INSEE.
Unheard of since the end of... 2008!
And the last time the IRL broke the 2% mark was 10 years ago!
Read alsoReal estate: does inflation spell the end of good deals?
Only rental contracts providing for an annual review of the rent are affected by this IRL.
Which is generally the case.
Thus, on each anniversary date of the signing of the lease, the owner can increase the rent without therefore exceeding the level of increase of the IRL.
Unless the rent has obviously been undervalued or if the lessor has carried out improvement/beautification work on the accommodation.
In these two cases, the owner can apply an increase higher than the IRL…
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