So here's the latest crazyness of the Dubai Landlord scene. Some of my friends have recently moved within the same building. Not a big deal one would think.
Well....they all had to pay the real estate company a commission of 5% AGAIN, although they had already paid that when they moved in the building the first time.
Of course, taking advantage of the occasion, they also raised the rent more than the 15%. But here's the nice little deal of the real estate agent: "I'll lower the rent for you a few thousand Dirhams but you have to pay me the difference". (I save you 5000 AED so you owe me half of that). Nice little pocket money.
Do that a couple of hundred times in a year and bedome a Millionaire by ripping of people.
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4 comments:
If your friends have lived in the building for some time, can't they contact the building owner directly and forego the agent. Why should the building owner care if the agent gets his cut or not?
This place seriously needs to start requiring real estate agents to be licensed.
Good idea. But are you sure they aren't already? How does one go about getting the government to do so--a media campaign?
this is just same outrageous, may be more. rent raised by the landlord two years in a row, without tenant moving, without property changing! and guess who the owner is? leter in 7days explains it.
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