The housing market in Dubai is booming at the moment. This means that action is being taken to ensure that tenants and landlords alike are well protected. A new rent law has been drafted and it proposes that the relationship between tenants and landlords should be standardised. It is hoped that this will protect the rights of both parties.
A New Rent Law in Dubai Has Been Created
This new rent law aims to protect the rights of tenants and landlords, as well as aiming to increase competitiveness in the real estate market in Dubai. The law also provides a new standardised process for increasing rent in residential and commercial properties. As well as focusing on rent and the relationship between the two parties, this new law also takes into consideration when someone can be evicted. It clearly states the circumstances in which someone can be evicted and puts legal provisions in place to reduce the number of disputes over evictions.
Ahmad Saeed bin Mashar Al Muhairi, Secretary General of Supreme Legislation Committee in Dubai, explained that the new rent law is expected to come into effect before the end of the year. He also went on the state that the law classifies rental contracts into four types of property. These are office, commercial, residential and industrial.