I have been in Doha for 2 years and want to start a business but the problem with the KEY MONEY . IS KEY MONEY JUSTIFIED . This middlemen spoiling the name this Country. DO the GOVT have any control on this BLACK-MARKETERS.
I was told by a friend that a few years back key money for a TINY shop in the gold souk (about 2 meters by 3 meters) was something like 300,000 QR when the shop itself only rented for 2500/month.
Key money is generally for those places which are already in the main market or having cheap rent and also it depends on the current market value of the place. Actually it happens when someone is winding up their business and intended to hand over the place to another business man and he demands the key money as a gesture of goodwill of the place .Key money is very common trend in business market and the business man’s are paying it frequently as they know the value of their investment.
It has become a very common trend of the market and, one after one doing the same...
Alternatively if you are going for the newly constructed commercial property then you don’t have to pay any key money but ofcourse rent will be as per the current market position
:( We have it in the UK brit in some commercial properties, especially well known,high end RE. They say it is a like a deposit but it's closer to being extortion for having the pleasure of renting a commercial property.
Money collected by the Land Lord or the person vacating the shop as Good will or Indian terminology they call it as Pagadi.Regarding legalisation has to be addressed or discussed else where
QATAR High Authorities should take serious action against it who are selling shops for their key money which is beyond our needs & budget and should be considered illegal..
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I was told by a friend that a few years back key money for a TINY shop in the gold souk (about 2 meters by 3 meters) was something like 300,000 QR when the shop itself only rented for 2500/month.
Sadly, this happens all over the world ... Perhaps the costs are higher in Qatar..
But you still have to pay for a newly constructed commercial property (in Doha) :(
Key money is generally for those places which are already in the main market or having cheap rent and also it depends on the current market value of the place. Actually it happens when someone is winding up their business and intended to hand over the place to another business man and he demands the key money as a gesture of goodwill of the place .Key money is very common trend in business market and the business man’s are paying it frequently as they know the value of their investment.
It has become a very common trend of the market and, one after one doing the same...
Alternatively if you are going for the newly constructed commercial property then you don’t have to pay any key money but ofcourse rent will be as per the current market position
or even local regulation, fine. But if there's no legal basis, then it's illegal! Why transact illegally? Transact at your own risk!
:( We have it in the UK brit in some commercial properties, especially well known,high end RE. They say it is a like a deposit but it's closer to being extortion for having the pleasure of renting a commercial property.
Money collected by the Land Lord or the person vacating the shop as Good will or Indian terminology they call it as Pagadi.Regarding legalisation has to be addressed or discussed else where
What is key money ?
QATAR High Authorities should take serious action against it who are selling shops for their key money which is beyond our needs & budget and should be considered illegal..