Rent Cap

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Rent cap Jan 05, 2009
Okay, so a couple of people were talking about it the other day. There's been no rent cap announced for this year. What does that mean? It's down to your negotiating skills?

Chocoholic
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Jan 05, 2009
bump

Interesting point.....anybody?
smoggie
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Jan 05, 2009
Shouldn't the old law cover you for a while? It did stipulate 2 years at same rent, and 5% in the 3rd year.
gtmash
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Jan 05, 2009
If one has lived in the same apt/Villa for say 9 years and has been covered by the rent caps.....therefore still paying a reasonable rent, Will this give landlords the right to exploit the situation and impose massive % rent increases
smoggie
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Jan 05, 2009
smoggie wrote:If one has lived in the same apt/Villa for say 9 years and has been covered by the rent caps.....therefore still paying a reasonable rent, Will this give landlords the right to exploit the situation and impose massive % rent increases


Yeah, I guess the landlord can be a dck about it, if he chooses. I am surprised RERA is quiet this year. I guess they are building that average-rent-per-area thingy.
gtmash
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Jan 06, 2009
There is not going to be a rent cap for this year because RERA are near to completing a rent system based on Area's (ie Marina/Barsha etc) and square footage. This will become the benchmark and guideline for all rents.

Like every new initiative in Dubai, it wont work because the new system cannot take into account "market forces".
arniegang
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