Quote:
Originally Posted by Dubai Rental Properties
Can someone provide some more details to exactly how this works please? I have tried to investigate what exactly this entails, but details seem quite vague.
I can't really see how the Government will police this, especially with my customers who are renting out their properties online, with their own specified rental prices.
I agree with these actions by the Government, but as said, cannot see how this legislation will work, especially with the online community.
I have had no personal contact with any representatives from the government, in any way shape or form, so as far as I can see, things with pretty much stay as they are.
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I think that it's about "renewals". So, if you have a new instruction, you probably can have an asking price of your choice. However, once you rent it, you cannot increase the rent on your tenants for more than 5% in the following rental term [year i suspect it to be].
Does it make sense?
Rammah