Any views about the new rental law passed on Monday, which lifts the 2yr rental freeze and also removes the cap on the percentage(%) increases which will be allowed now?
If the landlord decide to raise the rent in the middle of a contract, does it mean that the tenant have a right to say no and walk away from that contract?
this is the upshot of hastily designed legislation!
NOBODY was allowed to raise rent, even when their Villa was earning less than half the equivalent elsewhere. Now there is a release. All these guys hoping to make up for lost opportunities are rubbing their hands together. Likewise every tenant in overpriced houses are looking to move. Interesting times!The market will win! Prices downsized as everywhere else in the overheated GCC msrket!
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If the landlord decide to raise the rent in the middle of a contract, does it mean that the tenant have a right to say no and walk away from that contract?
this is the upshot of hastily designed legislation!
NOBODY was allowed to raise rent, even when their Villa was earning less than half the equivalent elsewhere. Now there is a release. All these guys hoping to make up for lost opportunities are rubbing their hands together. Likewise every tenant in overpriced houses are looking to move. Interesting times!The market will win! Prices downsized as everywhere else in the overheated GCC msrket!
Gulf Times front page today...
from where you heard..mention the link plzz..