| 09 Jan 2009 |
|
Tenancy Disputes Rise in 'Absence' of Rent Cap
- Text size
DUBAI - The top official of the body in charge of regulating the real estate market has said that he has "no idea" when the new rent cap will be introduced for the emirate.
Marwan Bin Galita, Director General of the Real Estate Regulatory Authority (RERA)Real Estate Regulatory Authority (RERA)
, said that no date had been set for the reintroduction of the annual rental cap, which has previously stood at five per cent.
Reports suggest that landlords are raising rents in some buildings to almost double in the absence of any rules limiting the maximum rise.
Mohammed Al Shaikh, Secretary General of the Dubai Rent Committee, said that they were currently experiencing about 15-20 complaints per day from residents in dispute with landlords."We get lots of complaints all year round," Al Shaikh said.
"I don't know what the situation is with the rent cap, but we could get more if it isn't introduced."
The previous cap of five per cent has expired with no new ruling to replace it, although sources claim it is still in force.
Elaine Jones, CEO of property management company Asteco, said that it was business as usual.
"It would be wrong of us to say that we are immediately putting up rents."
It is believed that the annual rent cap will no longer be necessary in the future after RERARERA makes available its new rental index.
The agency is planning on publishing a list of average rents in areas of Dubai once 60 per cent of tenancy contracts have been registered on its new Ejari web site.
© Khaleej Times 2009
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Loading ...
Post a Comment
Community Comments (1)
This is a request to all tenants in Dubai who holds old teneancy contracts to get register as urgent as possible in order that RERA comes up with a reasonable index based on the registered tenancy contracts.
This will benefit all tenants living in Dubai as RERA will decide the index based on the tenancy contrcats registered with them (Pls refer the news article) Also, sicne RERA is going to decide once the 60pct of the contract are registered, needless to state, those holding new contracts with high value to hold them until the index is published.
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.