Quote:
Originally Posted by Rammah
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
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I see, yes that makes perfect sense, thank you Rammah. In that case I would imagine that it would be down to the tennant report any increases to the rent over that allowance, and then the authorities would take any actioned required, if the landlord had over stepped the mark!?
Although I would imagine most Landlords would adhere to these regulations, but the question is whether this is common knowledge between Landlords, and whether Dubai Govenment will do enough to enforce and ensure everyone is aware of this.
What action would they take to prevent a Landlord over increasing their rent?