"H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in his capacity as Ruler of Dubai, has issued a decree on rent allowance in the Emirate of Dubai.
The new rent allowance was decided after taking into consideration Decree no. 2 of 1993 and its amendments, which set up a special committee to look into and settle disputes between landlords and tenants, and Decree no. 14 of 2005 which set a ceiling for any rent increase in the emirate.
According to the new decree, rent allowance shall not exceed 7% of the annual rent charge of the property. This shall apply to all rent contracts that are to be renewed in 2007 on condition that no rent increment was made on that property in 2006.
No rent allowance increment shall be made in 2007 on properties whose contract had already been signed in 2006, Article 2 of the new decree said.
The decree tasked the special judiciary committee in charge of settling disputes between landlords and tenants to come up with the appropriate measures for the implementation of the new decree, which takes effect from the date of its issuance, January 1, 2007 and is to be published in the official gazette."
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8 comments:
wow
i dinnae believe it
well,golly!
This law is of no use...the house I live in, the rent was increased by 30% as the contract ended in Nov 06 & at that time this decree did not exist...& 30% was allowed...
what a waste to me atleast...
but generally a good move...7% is low enough so that its not a burden on the people...
Alhamdullilah! So does this mean that since my rent was jacked up in 2006, they WON'T be able to raise it in 2007? Sweet. So maybe I'll get a raise in my paycheck this year. Last year's was eaten up by spiralling rents...
stained -- I got nailed the year before, so I feel your pain. My place went up 24% in 2005 (about a month before the cap was put in place) and then another 15%in 2006.
Balushi -- What do you mean, 1 in 2 people sublet? Where are you getting this info from? I know loads of people and not a single one who sublets anything!
balushi and a blessing in tragedy plz stfu and take fight elsewhere otherwise commenting will be disabled on this post for all (which would be a pity)
balushi your comment has been deleted.
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