MIL OSI Translation. Government of the Republic of France statements from French to English –
Source: Republic of France in French The French Republic has issued the following statement:
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The new rent reference index (IRL) was published on October 15, 2020 by the National Institute for Statistics and Economic Studies (Insee). The Q3 2020 index now stands at 130.59, which represents an annual increase of 0.46%. As a reminder, it had increased by 0.66% in the second quarter of 2020.
The IRI sets the annual rent increase ceilings that landlords can demand from their tenants when the lease includes an annual rent review clause.
It applies to furnished and unfurnished residential leases.
The IRL corresponds to the average, over the last 12 months, of the change in the consumer price index (CPI) excluding tobacco and excluding rents.
Note: The rent of a dwelling subject to the 1948 law is reassessed each year according to specific rules unrelated to the IRL.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.