The reference rent index (IRL) for the first quarter of 2022 rose by 2.48% (to 133.93), which confirms its rebound after +1.61% in the previous quarter and +0.83% in the third quarter of 2021. It is of course the return of inflation which causes this change while the progression of the IRL was still almost zero in the first quarter of 2021 (+0.09%). We must also go back to the fourth quarter of 2008 (+2.83%) to find a more pronounced rise in the IRL, ie nearly 14 years earlier.
Return of inflation
This index published by INSEE is in fact calculated from inflation excluding tobacco for the last 12 months and serves as the basis for the annual rent review. Concretely, on each anniversary date of the lease, the rent can be revised upwards according to the last known IRL. Thus, this publication concerns leases that refer to the IRL of the first quarter, ie leases whose anniversary date falls between mid-April and mid-July.
Example of revision
The revision is made on the rent excluding charges. A tenant with a rent of 700 euros (including 50 euros of charges) will, for example, see his naked rent go from 650 euros to 666.1 euros (+ 2.48%), or 716.1 euros including charges.
to know
The next Q2 IRL will be released on July 13, 2022.