Commercial Lease IndexILC
Indexing of commercial leases.
The Commercial Lease Index (ILC) was introduced by Article 47 of Law no. 2008-776 on the modernization of the economy of 4 August 2008 introduced the Commercial Rent Index (ILC).
Since the Act 2014-626 of 18 June 2014 (Article 9) which amends the former act and the article L145-34 of the Commercial Code resulting two indices can be used for the revision of commercial property leases:
- The Commercial Lease Index (ILC) for commercial and craft activities;
- The Tertiary Activities Rent Index (TARI) for tertiary activities other than commercial which are carried on in business premises, including in particular professions and activities in logistics warehouses.
Decree no. 2008-1139 of 4 November 2008, relating to the commercial rent index, defines the calculation and publication procedures for this index, in addition to the indices concerned.