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How to increase rent of studio apartment as per current market

Discussion in 'Dubai property' started by Kind, Aug 31, 2008.

  1. Kind

    Kind New Member

    I rented out my studio apartment for only 38,000 Per annum one cheque. Contract was for one year. As per agent, I can not remove tenant at the end of tenancy agreement if tenant wants to stay for another year and can not increase the rent Unless I prove that I want to live by myself. For that I will have to give some sort of guarantee to Dubai Municipal Corp. showing my real intention.

    After two years I can increase the rent as per prevailing market but some say you can increase only 5% per annum after two years ?

    Does anyone have similar experience ? I am not greedy to increase the rent but just like to know the rule.
  2. Demoniise

    Demoniise New Member

    I too would like to know.
  3. Capricorn 1

    Capricorn 1 New Member

    I have a one bed apartment rented out for AED 41,500, contract for 2 years (paid in 3 cheques) to expire next March. Is this the going rate? I too would like to know if rents can be increased?
  4. Kind

    Kind New Member

    Rent of Studio apartment in international city is between 50,000-60,000 AED
    One bed should be 80,000 AED at least.
  5. Howsbuya

    Howsbuya New Member


    Hi Capricorn
    The rent situation is as stated - no increase for the 2nd year and then 5% the 3rd year. You have to prove yr moving in yrself to get the tenants out.
    The going rate for a 1 bed apartment now is 75,000 Dirhams per year.
    Hope this helps.
  6. Kind

    Kind New Member


    Thanks for your input.
    It means those who rented out cheap are stuck for forever ?
  7. nabeelc

    nabeelc New Member

    yes u r stuck forever. now stop being greedy. it is because of landlords like yourself that the rents have skyrocketed. STOP THE GREED!
  8. anwar khan

    anwar khan New Member

    Nabeelc I am not being nasty or anything but it never depends on landlords to put the prices up for their properties , its the market in dubai . Everything is going up n up and its the growing rental value in dubai which determines the rental value of Intl City. Its not that landlords are asking for any rent and they are getting it, it all depends on the market to be honest.....Greedness is everywhere whether you are a buyer or seller, tenant or landlord, thts how it works my friend...
  9. georgihh

    georgihh New Member

    This website is not for idiots trying to be smart but for investors who wants to invest and increase the initial capital of the investments as much as possible.
    Yes IC is the last place where you can get a dissent rent in Dubai but if you cant afford it go home or do something else. Once more people invest money in Dubai and they want return and the government supports them
  10. georgihh

    georgihh New Member

    1. More than two people per studio and three per one bedroom are allowed to stay in IC.
    2. Tell your tenants you are selling the flat and they have to vacate it as per the wish of the new owner
    3. Tell your tenants you are going to stay in the flat

    If none of the above helps you increase the rent gently until you find the way to get the market value
  11. Capricorn 1

    Capricorn 1 New Member

    What is the position regarding the 4th year? If I am obliged to let tenants stay on for 3rd year for 5% increase - I don't want to sign a 2 year contract if there is a possibility of increasing rent in year 4.
  12. sameer.dada

    sameer.dada New Member

    Maybe you could say that you are selling the unit. So they have to vacate it when their 365 days is up.

    Rent in Dubai is really becoming ridiculous. Almost like New York rates.
  13. Kind

    Kind New Member

    Dear georgihh

    Thank you so much for your input and advice. I was so ashamed after reading nabeelc message that I stopped reading the forum for a while.
    You are right it was purely for investment purpose and I think everyone would like to get max. return from his investment.
  14. SAH

    SAH New Member

    The way to increase your rent

    Dear Guys,

    I own an apartment there but my friend requested an apartment in international city i call real estate people they says 55,000 AED studio i said why n how my apartment 38,000 you rented out and now my freinds needs an apartment u r saying 55000 amazing!!!

    Then i put pressure on real estate people do something!!!

    My real estate peoples perform good after my pressure
    now we have to pay 15,000 to the tanent so he can go to different aparment
    15000+38000=53000 AED

    My apartment is empty now i can have new tanent with new rent
    and terms & conditions with (2 cheques not 3 like before)

    I dont ' no this deal was OK or not but my apartment will have 55,000 2 cheques and for next 1 YEAR ONLY
  15. Kind

    Kind New Member

    Dear Sah,

    That's a wonderful idea. I will try to work on it by paying some to tenant at the end of my one year contract.

  16. sameer.dada

    sameer.dada New Member

    WHich unit do you won?

    And how much did you buy it for?
  17. anwar khan

    anwar khan New Member

    I have a got a 1 bed unit in Italian cluster with balcony and I m getting 56k in 3 cheques.. I think I will have to try out something to get atleast 70k ...

  18. passi0nate

    passi0nate New Member

    Just for Info .. Rent now is 58000 for 2 Chqs ..

    I can help to rent it out at this rate .. can send me the details by pm ..
  19. anwar khan

    anwar khan New Member

    Everybody is getting 65k to 75k for 1 bed and you are saying that rent now is 58k !!! didnt get that at all ...Could you plzz explain a little bit more what you were trying to say....
  20. dalvir bains

    dalvir bains New Member

    Hi anwar,
    I think passi0nate wants to rent a balconie in one of your 1 bedroom apartments,
    Last edited: May 1, 2009
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