Dubai Property <http://www.alineah.com/> Dubai Property <http://www.alineah.com> Daily News Letter : www.alineah.com <http://www.alineah.com/images/page-img/head_top.gif> Sunday, April 19, 2009 Changes to tenancy laws but 5% rent cap will stay Alineah.com - Changes to tenancy laws but 5% rent cap will stay <http://www.alineah.com/news/321/detail.htm>
A five per cent cap on rent increases in the capital will stay in place, the Government announced yesterday. Sheikh Khalifa, President of the UAE and Ruler of Abu Dhabi, issued amendments to laws governing tenant-landlord relations, which covered the maximum rent increase allowable and minimum notice periods, the state news agency WAM reported. According to the new laws the maximum annual increase for an existing tenancy will be the same as last year's rent cap of five per cent. However, falling rents in Abu Dhabi mean some landlords are unlikely to be in a position to impose the maximum increase. Residential rents in the capital dropped by up to a fifth in the first quarter of 2009, according to data published last week. Despite a continuing shortage of flats and villas, average rents fell most in mainland Abu Dhabi, which has seen drops of around 20 per cent, with rates for properties on the island slipping by about 10 per cent, according to a report by Asteco, the UAE's largest property services company. The company found rates fell back to where they were in the middle of last year. Average rents in some areas more than doubled during 2007 and 2008 as the rent cap applies only to existing tenancies. When the market was rising quickly, there were many cases of landlords evicting tenants at the end of their contract so they could set a much higher level for new tenants. Under the changes announced yesterday, a lease will be automatically renewed at the end of the contract period unless either party requests it be terminated, or changed, before the end of the term. For residential units the notice period for a non-renewal of contract is two months, while for non-residential units the notice must be three months, WAM said. A landlord cannot evict a tenant until four years from the start of the first contract. . (more news detail <http://www.alineah.com/news/321/detail.htm> ) Property Week <http://www.alineah.com/apartment/19131/detail.htm> Apartment for Rent 75,000 AED MAG 214 Jumeirah Lake Towers <http://www.alineah.com/apartment/19130/detail.htm> Apartment for Rent 55,000 AED Saba Tower 3 Jumeirah Lake Towers <http://www.alineah.com/villa/3961/detail.htm> Villa for Sale 2,181,200 AED T196 Al Hamra Village <http://www.alineah.com/villa/3960/detail.htm> Villa for Sale 16,900,000 AED Signature Palm Island Jumeirah <http://www.alineah.com/office/2208/detail.htm> Office for Rent 200,000 AED Fortune Tower Jumeirah Lake Towers <http://www.alineah.com/apartment/18697/detail.htm> Apartment for Sale 650,138 AED The Bridge Dubai Sports City The National See more Dubai Properties and Real Estate News Visit us: www.alineah.com <http://www.alineah.com/images/page-img/head_bottom.gif> Abu Dhabi <http://www.alineah.com/en/about-uae/abu-dhabi/index.htm> | Dubai <http://www.alineah.com/en/about-uae/dubai/index.htm> | Sharjah <http://www.alineah.com/en/about-uae/sharjah/index.htm> | Ajman <http://www.alineah.com/en/about-uae/ajman/index.htm> | Umm Al Quwain <http://www.alineah.com/en/about-uae/umm-al-quawain/index.htm> | Ras Al Khaimah <http://www.alineah.com/en/about-uae/ras-al-khaimah/index.htm> | Fujairah <http://www.alineah.com/en/about-uae/fujairah/index.htm> Dubai Real estate Brokers <http://www.alineah.com/broker.asp> | Dubai Developers <http://www.alineah.com/developers.asp> | Dubai Real Estate Law <http://www.alineah.com/law.asp> | Dubai Agents <http://www.alineah.com/broker_display.asp> |Freehold Dubai <http://www.alineah.com/real_terms.asp> | Legal <http://www.alineah.com/legal.asp> UAE Home Loans <http://www.alineah.com/loans.asp> | Dubai Properties <http://www.alineah.com/property_search.asp> | Links <http://www.dubairealestatelinks.com/> | Site Map <http://www.alineah.com/sitemap.asp> | Home Insurance UAE Dubai <http://www.alineah.com/insurances.asp> | Blog <http://www.alineah.com/blog> | Contact Us | Privacy & Policy <http://www.alineah.com/privacy.asp> © 2006-2007 Alineah.com , All rights reserved. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Dubai & International Trading Society" group. To post to this group, send email to DubaiTrading@googlegroups.com To unsubscribe from this group, send email to dubaitrading-unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/DubaiTrading?hl=en?hl=en in association with www.buildingarabia.com -~----------~----~----~----~------~----~------~--~---
