Rent Increase Formula:
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This calculator helps tenants and landlords in Ireland determine the new monthly rent after an annual percentage increase, in compliance with Irish rental laws.
The calculator uses the formula:
Where:
Explanation: The calculator first applies the percentage increase to the annual rent, then divides by 12 to get the new monthly amount.
Details: In Ireland, rent increases in Rent Pressure Zones (RPZs) are capped at 2% per annum or the rate of inflation (HCPI), whichever is lower. Outside RPZs, increases must be justifiable and not exceed market rates.
Tips: Enter the current annual rent amount in EUR and the proposed increase percentage. The calculator will show the new monthly rent amount after the increase.
Q1: How often can rent be increased in Ireland?
A: In RPZs, rent can only be increased once every 12 months. Outside RPZs, frequency depends on the lease terms but must be reasonable.
Q2: What is a Rent Pressure Zone (RPZ)?
A: RPZs are areas where rents are highest and rising fastest, with special rules limiting rent increases to prevent excessive hikes.
Q3: Can landlords increase rent by any amount?
A: No, increases must comply with legal limits in RPZs and must be justifiable compared to local market rates elsewhere.
Q4: Is notice required for rent increases?
A: Yes, landlords must give 90 days written notice using the proper form (Notice of Rent Review).
Q5: What if I disagree with a rent increase?
A: You can dispute it through the Residential Tenancies Board (RTB) within 28 days of receiving notice.