Rent Calculation.xlsx

	A	B	C	D	E	F	G	H	I	J	K	L	M	N	O	P	Q	R	S
1	Element	Element Value	Charge Value	Start Date	End Date	Actual Increase applied	September RPI Year	September RPI	September RPI + 0.5%	February RPI Year	February RPI	February RPI + 0.5%	Correction Increase %	Correct Rent Value	Difference per mth £	Annual Difference £	Months Charged	Plus Interest @ 8%	Comments
2	RENTMTHLY	386.63	386.63	1-Jul-10	31-Mar-12														Starting rent value, increase not applied till 1st April 2012
3	RENTMTHLY	410.32	410.32	1-Apr-12	31-Mar-13	6.1%	2011	5.6%	6.1%	2012	3.7%	4.2%	4.2%	402.87	7.45	89.42	12	7.15	February RPI Applied as lower
4	RENTMTHLY	423.04	423.04	1-Apr-13	31-Mar-14	3.1%	2012	2.6%	3.1%	2013	3.2%	3.7%	3.1%	415.36	7.68	92.19	12	7.38	September RPI Applied as lower
5	RENTMTHLY	438.76	438.76	1-Apr-14	31-Mar-15	3.7%	2013	3.2%	3.7%	2014	2.7%	3.2%	3.2%	428.65	10.11	121.33	12	9.71	February RPI Applied as lower
6	RENTMTHLY	451.10	451.10	1-Apr-15	31-Mar-16	2.8%	2014	2.3%	2.8%	2015	1.0%	1.5%	1.5%	435.08	16.02	192.26	12	15.38	February RPI Applied as lower
7	RENTMTHLY	456.98	456.98	1-Apr-16	31-Mar-17	1.3%	2015	8.0%	8.5%	2016	1.3%	1.8%	1.3%	440.73	16.25	194.95	12	15.60	September RPI Applied as lower
8	RENTMTHLY	468.45	468.45	1-Apr-17	31-Mar-18	2.5%	2016	2.0%	2.5%	2017	3.2%	3.7%	2.5%	451.75	16.70	200.36	12	16.03	September RPI Applied as lower
9	RENTMTHLY	489.15	489.15	1-Apr-18	31-Mar-19	4.4%	2017	3.9%	4.4%	2018	3.6%	4.1%	4.1%	470.27	18.88	226.50	12	18.12	February RPI Applied as lower
10	RENTMTHLY	507.74	507.74	1-Apr-19	31-Mar-20	3.8%	2018	3.3%	3.8%	2019	2.5%	3.0%	3.0%	484.38	23.36	280.28	12	22.42	February RPI Applied as lower
11	RENTMTHLY	522.46	522.46	1-Apr-20	31-Mar-21	2.9%	2019	2.4%	2.9%	2020	2.5%	3.0%	2.9%	498.43	24.03	288.36	12	23.07	September RPI Applied as lower
12	RENTMTHLY	531.00	531.00	1-Apr-21	31-Mar-22	1.6%	2020	1.1%	1.6%	2021	1.4%	1.9%	1.6%	506.41	24.59	295.14	12	23.61	September RPI Applied as lower
13	RENTMTHLY	559.67	559.67	1-Apr-22	31-Mar-23	5.4%	2021	4.9%	5.4%	2022	8.2%	8.7%	5.4%	533.75	25.92	311.03	12	24.88	September RPI Applied as lower
14	RENTMTHLY	598.85	598.85	1-Apr-23	31-Mar-24	7.0%	2022	12.6%	13.1%	2023	13.8%	14.3%	7.0%	571.11	27.74	332.84	12	26.63	Rent increase capped at 7% - National agreement
15	RENTMTHLY	655.14	655.14	1-Apr-24		9.4%	2023	8.9%	9.4%	2024	4.5%	5.0%	5.0%	599.67	55.47	554.71	10	44.38	February RPI Applied as lower
16	Total Refund Due															3,290.31		254.35
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18	Review Calculations and Approach																	3,544.66
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20	Signed off By	Mel Winterflood																3,544.66
21	Signed off Date	1/8/2025
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24	Background:
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26	Query received question Rent increase which has been applied over the years.
27	Actual increase which has been applied is September RPI +0.5%, however through review of the Lease (please see Lease snips for reference), it has been identified that RPI to be applied should be February + 0.5%.
28	September RPI to be honored as part of correction only if Lower than the February RPI - February RPI + 0.5% must be used going forward from April 2025
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