Tuesday, February 07, 2006

Rent increases

OK, OK, I know the rent increases are way over the top, but I have a question for all of the renters whinging and complaining about blood-sucking, greedy, unreasonable landlords. If you owned the property, wouldn't you also be charging the highest rent the market could stand?


nzm said...

Fair comment - I think that I would try that too.

I think that where it becomes unfair is when the rental tribunal decides in favour of the tenant, and then the landlord starts getting nasty.

Cutting off power, water and aircon is not uncommon. They try to force the tenants out.

One of my co-workers lives in Bur Dubai. Her landlord raised their rent 25% after painting the main hallway from the front door of the apartment block - never mind the peeling paint and unreliable elevators!

Most of these people can't afford to go to the rent tribunal, as it costs them a percentage of the rental amount to do so. And then the landlord bites back - as above!

Seabee said...

I agree, the tactics aren't all they should be!
What annoys me is the abuse and name calling, when I'm sure they'd do exactly the same thing if they owned the place.

redstar said...

I would charge what the market would stand, but then again I'd expect a government that planned things properly for its residents so that they could actually afford to live somewhere. I'd also expect some kind of rent committee that actually had teeth.

My rent went up 32% and when I spoke to the property company they told me that the increase was recommended to them by the rent committe itself. Bizaree - a tenants' rights organisation telling the landlord to increase his prices.

The UK has a policy in certain areas where so called 'sitting tenants' have a capped rate and new tenants pay the full market rate. It'a good example of government involvement in what's otherwise a free market.

CG said...

Charge what you like, but once tenants are renting the property don't force them out by exhorbitant increases. Tenants will start to take less interest in the upkeep of the property/garden etc if they know there is a chance of being forced out. This works well for me, and you will find your property remains in better condition.

Dubai Property said...

The land lords and the owners of properties are allowed only to increase the rent by 15% annually. This was a move by Sheikh Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince, UAE Defense Minister and Chairman of the Dubai Executive Council as the expansion of the real estate sector has always attributed to the increase in the rent of both commercial as well as residential properties which in turn had made living in Dubai quite expensive.