Regulation with custom CPI interval
In this guide, we will go through how you can adjust with a custom CPI interval. This is a function that retrieves the CPI index from Statistics Norway when it becomes available.
For more information about the actual implementation of regulation, you can read here: Regulating rent in LAFT
If you already have a tenancy in the system, the first thing you need to do is edit the tenancy. This is done by going to the rental object, clicking on the tenancy tab, and then clicking on the gear > Edit.
You can also set up regulation with CPI when creating new tenancies, as you will be taken to the same editing page.
When you scroll down to Regulation, you can first choose whether the regulation should follow the start date of the tenancy or not. If you do not want it to follow the start date, uncheck it and select the date you want the tenancy to be adjusted.
Once the date for the first price change/regulation has been determined, you can go ahead and select the CPI months that will apply to the first regulation . If you check the box to automatically adjust the CPI interval, the month you select as the end month will become the start month for the next regulation period, and the end month will be 1 year after the start month.
You can also choose to regulate with a fixed rate. If you set a fixed rate, this will override the CPI interval that may have been set above.
Remember to check “Update new rent” before saving!
Once you have set the CPI interval or fixed rate, you can complete the regulation at Economy > Price regulation of tenancies. If you changed so that the regulation should not follow the start date of the tenancy, the date from which the regulati0on should apply will appear in the column "next regulation date". Under "Regulation %" you will see the CPI interval you have set. This is illustrated by an icon showing "CPI" behind the rate. If you have set an interval where the CPI rate is not yet available, it will say "not set", but the correct rate will be automatically filled in as soon as it is available from Statistics Norway.
The price listed under "New rent" is the new price that will apply from the next regulation date, after the regulation has been completed.
Read more about regulation here: Regulating rent in LAFT