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rent increase - 30% in one week

Discussion in 'Dubai property' started by georgihh, Jul 8, 2008.

  1. georgihh

    georgihh New Member

    So fanny all the rental prices in IC are gone up by 30 % for the last one week and
    nothing is available.
    30 % increase in resale will follow by the end of the year
     
  2. Demoniise

    Demoniise New Member

    are u sure? I have 2 flats in IC. Are u a rental agent?
     
  3. georgihh

    georgihh New Member

    I am not a rental agent but have a properties in IC and nothing is available.
    If you look at the newspaper you will find 4-5 adds for rental in IC in comparison to 2 months ago when 50-60 were advertised.
    If you look for a studio today they are not available and the asking price is 55000 if available.
    So get your tenants out and get the proper rent
     
  4. jakob1986

    jakob1986 New Member

    FIrst of all my friend is this not a legal action to vacate a property to raise the rent and no Landlord should use that as a option.
    I would drag you to the rent commite and you would lose. the rent is fixed for 2 years and you can raise it than for 5 % after giving a notice one year before. Laws are there to follow them even in Dubai my dear.
     
  5. georgihh

    georgihh New Member

    When you find a studio for 40000 DHS give me a call, for the time being find
    15000 DHS more as you might end up on the street
     
  6. jakob1986

    jakob1986 New Member

    yeah right..will let you know...people like you make this place so wonderfuel to stay...

    and btw

    The point was that this is not legal...i am sure a guy like you knows what it means to end up at the rent commite and I am also sure that you read something about the index which will come in the next year? hm did i mentioned that I work in real estate? anyway I should have a word with your tenants.
     
    Last edited: Jul 8, 2008
  7. georgihh

    georgihh New Member

    Something for you from today,s newspaper

    International City Fully Furnished Studio Dhs 6,000 P.M. Fully Furnished One-bedroom Hall Dhs 9,000 P.M. One Month Advance RENT and One Month Deposit
     
  8. jakob1986

    jakob1986 New Member

    and something for you as well

    what they are asking and what they are getting are two worlds and it is pointless to gimme peaks!

    but you dont get it you give advise to act not accordingly to the law. this is not acceptable
     
  9. georgihh

    georgihh New Member

    Legal or not legal is not your problem.
    I hope you don’t re rent your studios for less than 55000 as you might end up without job
    Very soon
     
  10. jakob1986

    jakob1986 New Member

    yeah you got a clue...i'll inform the admin just to make sure that you dont advise any other people to act illegal
     
  11. georgihh

    georgihh New Member

    I hope the owners in IC understand that their properties are gaining value week after week and is in our common interested to rise the prices of our properties as much as possible.

    The current rents are
    Studio – 55000
    One bedroom - 75000
     
  12. jakob1986

    jakob1986 New Member


    As a information a Studio in Discovery gardens is 60k with all the white goods and a avarage size of 570 sqft and a nice balcony a quality that is at least 2 levels above IC.

    And now you put it in the right way but still the only thing I was concerned about is just your advise. Still I tell you when I signed the contract
     
  13. georgihh

    georgihh New Member

    As much as people like you are trying to undervalue the properties of IC the reality is as follows

    No flats are currently available in IC and if available for the prices I have mention earlier
    Nakheel are improving the quality of the district as to increase the prices of the new projects.
    IC normally is 25-30% cheaper than DG since the very first day and the studios in DG are smaller and most of them have no balcony.
    And finally I am renting one of my studios for 6500.00 per month and I had 20 phone calls from people wanting the property.
    And finally there are approximately 10000 studios in IC and you cannot get even one for the price you would like to pay no way back my friend.

    Just accept the reality or go to Ajman but hurry up you might face huge increase even in Ajman
     
  14. jakob1986

    jakob1986 New Member

    As usal people like you overvalue theyre properties...the quality we are facing in dubai is so poor further more if you are renting your studio for 65 your client has just no idea of the market. I can give him a studio in DG with 59 sqm a great balcony in a well and clean developed area for the same price and he will have alle the white goods.

    Of course it's your property and you can be proud of and everything is great but stop screwing the market.....
     
  15. georgihh

    georgihh New Member

    I have made some phone calls today and nothing is available for less than 50k in IC
    Next months rents like 50k plus will be well acceptable as the demand is more than the availability.
    There is nothing on the market with reasonable leaving conditions less than 50k in Dubai.
    IC is not great place but the cash is cash and doesn’t matter where comes from.
    On top of that I don’t understand what your problem is as higher the rent bigger your commission is.
    And please don’t blame the owners for making more money from the properties as no body is here in Dubai to enjoy but to make money
     
  16. jakob1986

    jakob1986 New Member

    greed my friend greed....not more not less
     
  17. georgihh

    georgihh New Member

    studio 60k
    one bedroom 80k

    how far can this go?
     
  18. gtmash

    gtmash New Member

    I rented my studio out for 39k in January. I told the tenant of the laws and that I'll follow the laws. My tenant is happy and I have no regrets. I'd rather lead a clean life than screw people over for money.
     
  19. jakob1986

    jakob1986 New Member

    gtmash...thats the way it should be...very good...btw..I found an apartment for 45...last week
     
  20. Roshan

    Roshan New Member

    WOW, who wouldn't like to have a landlord like you. It's nice to know that kind people like you exist. IN turn the tenant wil take good care of your property.

    Always good to build a long term relationship with your tenant, then demand money just because you are in the drivers seat.

    Keep up the good work and I am sure your tenant will say that extra prayer for you everyday.

    Regards

    Roshan
     
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