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EWmums

EWfood

ewmoda

Offer from landlord, what do you think?

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 11:52

Hello ladies, I need some advise on the offer I got from a LL in Arabian Ranches.
3BR +study, upgraded from the usual structure in al reem.
165k in 2 cheques with all white goods and furniture in place.
LL will sign a maintenance contract.
Has a barbecue area.
No increase in next years rent if we sign a 2 years contract.

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4393

Posts

EW MASTER

Latest post on 13 July 2015 - 13:15

It probably doesn't. I believe, and no doubt someone will correct me if I'm wrong, but it is only updated by using the rents of those people who register for Ejari and although we are all supposed to do that, I know of a lot of people who haven't bothered.

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 13:13

Many thanks a lot for the comments and insights. I found the below article while searching the internet that says that the rent calculator may not reflect current mkt realities. http://m.thenational.ae/business/property/dubais-rera-index-has-been-left-behind-by-falling-rents-say-brokers

8965

Posts

EW MASTER

Latest post on 13 July 2015 - 12:43

I would take it for AED165000 The rent calculator stipulates a 3 bed should be over AED200,000 Two beds in the Greens ( Apartments) are going for AED130,000-140,000 therefore AED165000 for a 3 bed and study is a bargain I would worry though about his stipulating not raising the rent for 2 years as even if it is in writing the rent calculator overrides that so as the property at present is worth over AED200,000 according to the calculator he may get wind of that and is entitled to raise the rent. However if the rent drops you can ask for a discount. Thanks for that Sarah, its the next year rent that would not be increased. Can you share how to access the rent calculator please? Is he allowed to change the content of the contract during the tenure? I believe he has to be bound by it if I am committed to my own terms right. Rent contracts only run for one year and changes can only be made 90 days before the end of the first contract Both parties have to agree though https://www.dubailand.gov.ae/English/Pages/Rental-Increase-calculator.aspx ( On main area click freehold on the drop down box) http://www.justrentals.com/search/dubai/villas/arabian-ranches/al-reem-(all)/cid/3/bd/3/fr/4/ct/1/lc/12/sl/3191/sort/score__desc/per_page/20

4393

Posts

EW MASTER

Latest post on 13 July 2015 - 12:42

I would take it for AED165000 The rent calculator stipulates a 3 bed should be over AED200,000 Two beds in the Greens ( Apartments) are going for AED130,000-140,000 therefore AED165000 for a 3 bed and study is a bargain I would worry though about his stipulating not raising the rent for 2 years as even if it is in writing the rent calculator overrides that so as the property at present is worth over AED200,000 according to the calculator he may get wind of that and is entitled to raise the rent. However if the rent drops you can ask for a discount. The rent for a Three bedrooms villa in Arabian Ranches is in the range 200000 to 240000 AED per year. Your rent is 21% to 30% less than the average similar rent in the area. So you are entitled to a maximum increase of 10% ( 16500 AED per year) Rent does not include water,electricity or any other fees. I have checked on dubizzle though and similar properties (unfurnished) are going for btw 165k to 180k. The rent calculator must be very high. The rent calculator is based on what people actually pay and not what properties are advertised at

4393

Posts

EW MASTER

Latest post on 13 July 2015 - 12:41

If he wants to change anything in the terms of the contract he must notify you more than 90 days before the contrat is due. SarahLou my laptop is playing up and I can't get access to the RERA calculator, to link it !!! One thing I will say is that it is only updated every 3 months, so you cannot look too far ahead.

685

Posts

EW GURU

Latest post on 13 July 2015 - 12:40

I'd take it. The price sounds right. And if the landlord previously lived there chances are it's been properly maintained.

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 12:40

I would take it for AED165000 The rent calculator stipulates a 3 bed should be over AED200,000 Two beds in the Greens ( Apartments) are going for AED130,000-140,000 therefore AED165000 for a 3 bed and study is a bargain I would worry though about his stipulating not raising the rent for 2 years as even if it is in writing the rent calculator overrides that so as the property at present is worth over AED200,000 according to the calculator he may get wind of that and is entitled to raise the rent. However if the rent drops you can ask for a discount. The rent for a Three bedrooms villa in Arabian Ranches is in the range 200000 to 240000 AED per year. Your rent is 21% to 30% less than the average similar rent in the area. So you are entitled to a maximum increase of 10% ( 16500 AED per year) Rent does not include water,electricity or any other fees. I have checked on dubizzle though and similar properties (unfurnished) are going for btw 165k to 180k. The rent calculator must be very high.

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 12:37

I would take it for AED165000 The rent calculator stipulates a 3 bed should be over AED200,000 Two beds in the Greens ( Apartments) are going for AED130,000-140,000 therefore AED165000 for a 3 bed and study is a bargain I would worry though about his stipulating not raising the rent for 2 years as even if it is in writing the rent calculator overrides that so as the property at present is worth over AED200,000 according to the calculator he may get wind of that and is entitled to raise the rent. However if the rent drops you can ask for a discount. Thanks for that Sarah, its the next year rent that would not be increased. Can you share how to access the rent calculator please? Is he allowed to change the content of the contract during the tenure? I believe he has to be bound by it if I am committed to my own terms right.

8965

Posts

EW MASTER

Latest post on 13 July 2015 - 12:30

I would take it for AED165000 The rent calculator stipulates a 3 bed should be over AED200,000 Two beds in the Greens ( Apartments) are going for AED130,000-140,000 therefore AED165000 for a 3 bed and study is a bargain I would worry though about his stipulating not raising the rent for 2 years as even if it is in writing the rent calculator overrides that so as the property at present is worth over AED200,000 according to the calculator he may get wind of that and is entitled to raise the rent. However if the rent drops you can ask for a discount. The rent for a Three bedrooms villa in Arabian Ranches is in the range 200000 to 240000 AED per year. Your rent is 21% to 30% less than the average similar rent in the area. So you are entitled to a maximum increase of 10% ( 16500 AED per year) Rent does not include water,electricity or any other fees.

4393

Posts

EW MASTER

Latest post on 13 July 2015 - 12:23

Again who should pay DEWA deposit, LL or tenant ? Tenant

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 12:19

Again who should pay DEWA deposit, LL or tenant ?

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 12:18

I would say go for it, 'cause even if the property prices do drop at the end of this year, you can almost guarantee that the RERA index won't go down. What about the rent amount itself, think its a god deal? Wondering if I could get it cheaper within Arabian Ranches for same conditions as the LL is refusing to reduce the rent further.

4393

Posts

EW MASTER

Latest post on 13 July 2015 - 12:11

I would say go for it, 'cause even if the property prices do drop at the end of this year, you can almost guarantee that the RERA index won't go down.

13

Posts

EW NEWBIE

Latest post on 13 July 2015 - 12:10

A. Is that what you want ? and B. Is the LL prepared to put all this in writing and sign to make sure he stands by his promises ? Yes we want the property. Its been properly maintained since the landlord currently lives there. We proposed that no rental increase and mtce contract and this will be part of the signed contract.

4393

Posts

EW MASTER

Latest post on 13 July 2015 - 11:56

A. Is that what you want ? and B. Is the LL prepared to put all this in writing and sign to make sure he stands by his promises ?

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