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EWmums

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ewmoda

New rent cap for 2011

2958

Posts

EW EXPERT

Latest post on 14 January 2011 - 07:49

So my understanding is that your rent can only be increased by max 5 % if your existing rent is 25% lower than the published RERA band. For many of us that's surely no rent increase for another year - yay!

http://gulfnews.com/business/property/uae/dubai-landlords-get-some-leewa...

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3220

Posts

EW MASTER

Latest post on 15 January 2011 - 18:32

If you are looking for another place to rent it still comes down to us lot to drive the rent down as much as possible and I know that some people just accept what the rent is advertised at. You really need to be playing a few properties off each other and not showing any estate agent desperation OR believe what they say. We need to get more bullish in the renters market!!! Hear! Hear! :)

spongemonkey980

4329

Posts

EW MASTER

Latest post on 15 January 2011 - 18:27

so 5 years of "boom" at the top line of 280,000 whoah there, Springs villas were going for 280k at the height of the boom, Meadows were up to 350k or even higher, saw some at 400k. were people really paying that to sit and look at a bunch of power lines and desert? :\: My goodness... ( we were talking about the Meadows/Springs way up the back there - M9 I think?) <em>edited by spongemonkey on 15/01/2011</em>

333

Posts

EW EXPLORER

Latest post on 15 January 2011 - 15:47

If you are looking for another place to rent it still comes down to us lot to drive the rent down as much as possible and I know that some people just accept what the rent is advertised at. You really need to be playing a few properties off each other and not showing any estate agent desperation OR believe what they say. We need to get more bullish in the renters market!!!

edna.welthorpe36638

516

Posts

EW GURU

Latest post on 15 January 2011 - 15:33

so 5 years of "boom" at the top line of 280,000 whoah there, Springs villas were going for 280k at the height of the boom, Meadows were up to 350k or even higher, saw some at 400k.

spongemonkey980

4329

Posts

EW MASTER

Latest post on 15 January 2011 - 13:55

What was someone saying on here the other day? A landlord owning streets of houses in Meadows 9 (?) - oh dear.... They probably bought that street off-plan in 2002, so it will have been cheap, and with the insane rental increases during the boom it'll be long since paid for. Those houses were not built until 2005 or so? so 5 years of "boom" at the top line of 280,000 = 1,400,000 in rent - houses were what? 2 million or so? minus service fees and maintenance? Cutting it fine, I would say...plus they are still paying ever increasing service fees on empty properties....

551

Posts

EW GURU

Latest post on 15 January 2011 - 10:07

We are in a villa in AR and the street I'm on has no problem being occupied , the rent signs go up and down in a day, so very popular area , and we negotiated 15,000 dhs from our yearly rent, as we pay in one cheque we thought we had a strong position and just tried it anyway ( we would have paid old amount and had no intention of moving ) and the LL agreed. U in Alma? Already woried about next renewal in Aug - last time he tried to rip us off.

edna.welthorpe36638

516

Posts

EW GURU

Latest post on 15 January 2011 - 09:53

What was someone saying on here the other day? A landlord owning streets of houses in Meadows 9 (?) - oh dear.... They probably bought that street off-plan in 2002, so it will have been cheap, and with the insane rental increases during the boom it'll be long since paid for.

spongemonkey980

4329

Posts

EW MASTER

Latest post on 14 January 2011 - 23:11

What was someone saying on here the other day? A landlord owning streets of houses in Meadows 9 (?) - oh dear....

edna.welthorpe36638

516

Posts

EW GURU

Latest post on 14 January 2011 - 22:48

Sucky news for landlords:\: hard to feel sorry for them. it was like fantasyland for landlords before the crash, lots of them were incredibly greedy and unreasonable, and now it's time for tenants to get a much better deal. That's life. If people bought property to rent thinking that rental values could only keep going up, more fool them.

Servants Quarte...

384

Posts

EW EXPLORER

Latest post on 14 January 2011 - 22:26

Sucky news for landlords:\:

spongemonkey980

4329

Posts

EW MASTER

Latest post on 14 January 2011 - 22:23

Article in the Xpress about this ie GLUT of property - dumb comment though in there about landlords not renting out because it is cheaper not to pay service fees etc- they still have to pay, empty or not....

272

Posts

EW NEWBIE

Latest post on 14 January 2011 - 12:31

so where do we find the RERA band list ? where is it published?

edna.welthorpe36638

516

Posts

EW GURU

Latest post on 14 January 2011 - 12:11

I think that a lot of these empty apartments are owned by people that don't really need the money. A whole other discussion but they are not desperate to rent out the place. Even if that was true and lots of landlords were deliberately keeping their properties empty rather than accept lower rents, how come rents are still falling? The only logical answer is there are still far too many rental properties and far too few tenants. Supply is still years ahead of demand. That means that the landlords who "don't really need the money" are irrelevant. <em>edited by edna.welthorpe on 14/01/2011</em>

414

Posts

EW EXPLORER

Latest post on 14 January 2011 - 08:20

I really don't know how do anyone calculates what is the rental value these days in Dubai. Rental prices have crashed, same as the propety prices. This cap seems like some way of showing control perhaps?! I'm more then glad to see rentals go down further. <em>edited by Goose on 14/01/2011</em>

200

Posts

EW NEWBIE

Latest post on 14 January 2011 - 08:16

We are in a villa in AR and the street I'm on has no problem being occupied , the rent signs go up and down in a day, so very popular area , and we negotiated 15,000 dhs from our yearly rent, as we pay in one cheque we thought we had a strong position and just tried it anyway ( we would have paid old amount and had no intention of moving ) and the LL agreed.

310

Posts

EW EXPLORER

Latest post on 14 January 2011 - 08:16

Dont know why they bother publishing this as so many places are standing empty and not being rented. Sorry Landlords....it's a renters market! I think that a lot of these empty apartments are owned by people that don't really need the money. A whole other discussion but they are not desperate to rent out the place. Many are also empty from defaulters too I don't know why banks and mortgage companies don't start auctioning these places off. Easiest way to recuop monies and you will have some very happy new owners if they are bought at good rates.

2958

Posts

EW EXPERT

Latest post on 14 January 2011 - 08:11

Dont know why they bother publishing this as so many places are standing empty and not being rented. Sorry Landlords....it's a renters market! I think that a lot of these empty apartments are owned by people that don't really need the money. A whole other discussion but they are not desperate to rent out the place. Many are also empty from defaulters too

310

Posts

EW EXPLORER

Latest post on 14 January 2011 - 08:09

Dont know why they bother publishing this as so many places are standing empty and not being rented. Sorry Landlords....it's a renters market! I think that a lot of these empty apartments are owned by people that don't really need the money. A whole other discussion but they are not desperate to rent out the place.

2958

Posts

EW EXPERT

Latest post on 14 January 2011 - 08:09

Yeah I suppose it's for those people who have been here for many years and are still paying very low rents - just reinforcing to their landlords that there is still a rent cap for those properties.

3220

Posts

EW MASTER

Latest post on 14 January 2011 - 07:58

Dont know why they bother publishing this as so many places are standing empty and not being rented. Sorry Landlords....it's a renters market!

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