Quote:
Originally Posted by Friend1422
Hi folks,
I purchased a 1 bed apartment in International City - Greece, via MINC / ROMOTEC / DUBAI GUERNSEY, about 3 years ago (nearly completing end Jan / Feb). This company has tied us into an 8 percent rental agreement on the original purchase price + Management fees for 2 years. Which is about 30,000 AED obviously the rent today is around 50,000 AED. The service charge on completion was 8,500 AED. So leaves about 21,500 (3,000 GBP per year at today’s rate !!!!!!!!).
Any one know what the service charge will be for future years, will this stay the same, go up or go down?
Any one dealt with this company on this forum? There contract also says they will make me pay for maintenance and utility charges that will eat - even more into the rent I get from them.
Looks like there 2 years 8 percent rental agreement is a total sham. I have tried to get out of their contract but they keep telling me because I signed up to them 3 years ago they are now going to hold me to it. I looks like I might have to pay them even more than what I receive in rent each year from the maintenance and utility charges.
Any one know what to do ?????
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Friend1422 I am in the same position as you, when you take rental agreement you have to stick for it for the contract period which is 2 years in my case also
the rent is crappy and probably half the full market rent but saves you headache and plus since all the greece sector flats are coming online theres alot of competition unless your there hunting for tenets you gona have a hard time finding tenets from UK like me