Thread Status:
Not open for further replies.

Re-rental dilemas

Discussion in 'Dubai property' started by DOC-KASH, Oct 14, 2008.

  1. DOC-KASH

    DOC-KASH New Member

    I rented out my studio for AED 38,000 with 2 cheques. Now i hear the going price is 55,000- 60,000 AED. Is there a rule that a tenant wil get a renewal on the same terms as last year?

    I rented through a real estate agent and i in the authority letter i clearly mentioned for 1 year only. Now the agent says that i might have to settle for the same rent as last or if you on your behalf workup a deal with the tenant.

    How long can a tenant force me to do so.I heared that you can increase the rent 5% annually and its only for the 2and year that a tenant can force u to renew the contract.

    Please advise me wat is the market norms in these conditions as i have no idea of rent procedures of dubai.

    I will be grateful.
     
    Last edited: Oct 14, 2008
  2. cansaw

    cansaw New Member

    Rental is capped for two years. More information on the legal side of rentals in Dubai is available on the RERA (Real Estate Regulatory Agency, Lands Dept, Govn of Dubai).
     
  3. anil

    anil New Member

    Last edited: Oct 15, 2008
Loading...
Thread Status:
Not open for further replies.

Share This Page