03 May, 2009

RERA backtracks on rental index update

Is anyone really surprised by this?

It's laughable that the same people responsible for setting this "index" are, in the most, landlords themselves.....

http://business.maktoob.com/20090000002242/RERA_backtracks_on_rental_index_update/Article.htm

12 comments:

Emjay said...

I am surprised that it took them 2 days to backtrack. But that may be because of the Friday.

Proud Emirati said...

It might be a technical error? This cannot be true because it wouldn't make sense.

Anonymous said...

RERA had not said the rental index was been officially updated yet, but the site seemed to indicate changes were in place.

Not official... seemed... Assumptions are bitches.

Anonymous said...

@PE Nothing ever makes sense..

Anonymous said...

I actually had high hopes for RERA to play a constructive role in ensuring both landlords and tenants rights are not violated.

I renewed my least a month ago and took on a 10% increase no less! RERA and Sheikh Mo's (landlords can increase by 20% if RERA says there is a big gap) was plastered all over their walls.

Gee, thanks. Did I mention that my building has no gym, swimming pool, etc, etc. like all the other buildings around it? Oh wait.. did I mention that my entire neighborhood for the most part consists of hotel apartments? So, I know RERA's figures are off.. by a long shot..

but I thought, hey, that's just me and my situation is slightly unique in that my building doesn't look like the others in the neighborhood. I took it like a champ!

I'm tired.

Anonymous said...

When I checked - the new figures were there.

Anonymous said...

I think Proud Emirati just had a EUREKA moment when it comes to how his country works. :)

Anonymous said...

'EUREKA moment' very very funny, made me laugh

Proud Emirati said...

Anonymous 16:44, actually it is u who people think the worst in Emiratis and the UAE whenever there is something. You guys need to take a break.

Anyway, I was proved right !

Proud Emirati said...

I should add

AGAIN !

Stained said...

A landlord plans to increase the rent by 20% as stated by sheikh Mo as the maximum possible increase even though according to the calculator it should be 15%...we can't argue cause we'll be kicked out on the basis of maintenance or late payment or whatever knew trick the landlords have learned...BTW the building is 15years old without any amenities...

unJane said...

When I meet people new to Dubai who are frustrated by the lack of infrastructure, etc I always say "Don't look for the logic". It's what we as westerners tend to do to make sense of and understand an issue but it just doesn't work that way here. I am not slagging Dubai, so back off. It may well be that way in other countries, too but this is the bulk of my expat experience.

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