H
Howsbuya
New Member
Landlords
Interesting! So that means the landlord has to rent for 3 years? He/she cannot rent for 1 year? And the rent is fixed for the 1st 2 years? Even though the landlord wanted to rent for 1 year only??? Nowhere else in the world would this happen.
HB
Interesting! So that means the landlord has to rent for 3 years? He/she cannot rent for 1 year? And the rent is fixed for the 1st 2 years? Even though the landlord wanted to rent for 1 year only??? Nowhere else in the world would this happen.
HB
Hi,
Below is a reply from my agent in Dubai who is looking after my 1 bedroom apartment in International City, Dubai. Hope this heps.
Salim
The current tenancy contract is for a one year period, 10th September 2007 - 9th September 2008. The rental amount at the beginning of this tenancy was AED 45,000. As long as the current tenant is wishing to renew at the end of this tenancy period, the rent will remain the same according to the UAE government regulations. Landlords cannot increase the rental amount until the 2nd tenancy renewal and this is capped at 5%. If the tenant does not wish to renew, then the landlord is able to increase the rent accordingly. At the moment, a 1 bed in International City is going for around AED 54K.