I am trying to understand how it works.
To work out an index link on property rent that cost £20 last year and what the cost would be to day.
Also to back track 17 years on a rent that cost £22.
Rent today is still £22. The rent now needs to be updated on the 1st April.
Is it possible by to find out what it would cost to day over that period of time had it been indexed linked.
probably not possible but if any one knows it would be appreciated.
Looked on Google but I cant find a index table.
I am paying the rent and its been over looked for years and we want to sort it in a fair way if it cant be done we will come to an agreement in an other way.
There's a problem with index-linked rents, in that they can sometimes exceed the open market rental. That's because both the RPI and the CPI are based on tracking certain goods and services, but not property rentals.
There's also the problem of differing inflation rates.
In general, I wouldn't advocate index-linking for domestic property - far better to negotiate an acceptable rent, and proceed from there with a system of fixed rental increases at the review dates. It can be tricky, because you are both (landlord and tenant) predicting what will happen in the future, but if you know each other fairly well it can be the easiest solution.
You should be able to negotiate a figure for past years without recourse to complex calculations.