4 Things to Keep in Mind When Renewing the Rent

Quite a lot of real estate experts had predicted the rent prices in Dubai would go up or

may be even double. It had undeniably frightened a lot of residents into believing they

could either be forced to pay the price

or be kicked out by the owners.

Thankfully they became reasonable.

Nonetheless, the end of an apartment

lease is horrifying. It is indicative of

three things: a letter from the landlord

to renew it, modify it, or simply vacate

the apartment at the earliest. Choice

lies in your hands. Just like you, every

month, thousands of residents in Dubai

face the same issue. Thus, it becomes extremely vital for you to be acquainted with

your rights as a tenant.

1. An increase in rent : First and foremost, you should know the more years you

live in an apartment in no way means an increase in the chances of you having

to pay a higher rent. Keep this in mind, the rent prices are not in proportion to the

duration of your tenancy at all. Make certain that you are not fooled by the owner

into anything of this sort. What’s more, the rate is calculated as per the average

in rates in the area you stay as per RERA’s calculator. (Real Estate Regulatory

Agency)

2. Has the notice period reached you on time? If at all you think you will be

asked to pay an increase, your landlord has to make sure there is a legal notice

given 90 days prior. It is a necessity by the law. Besides, the rent can be raised

only if you and the proprietor agree. If you happen to decline it, it is a must for the

owner to ask for a review from RERA. (Real Estate Regulatory Agency)

3. The good goody tenant: When you are the good tenant i.e. you pay your bills

on time, take good care of the place, are rarely to no reason behind a brawl, your

landlord certainly wants to keep you. After all, a good tenant can be a pretty

difficult task, and if you can convince the landlord, it most certainly will save him

the problem of re-renting the apartment and you from having to rent a new place

at such a short notice.

4. Do a quick calculation: How much rent do you currently pay, and what is the

average rental fee the neighbourhood you live in? These will help you figure out

whether or not the landholder is permitted to increase the annual rent. If you face

a problem you can always visit the RERA. They will help you to figure out

whether you are paying too little or too much.