The recent introduction of the new rental law by the Dubai Real Estate Regulatory Agency (RERA) marks a significant step towards enhancing the landlord-tenant relationship.
In this article, we’ll explore the key highlights of Dubai new rental law, shedding light on its impact on landlords and tenants.
Dubai New Rental Law in 2023 – Landlord-Tenant Relations.
- Advancing Transparency and Stability.
Dubai’s new rental law is part of a broader set of property legislation aiming to bring more stability and transparency to the rental market.
This legislation offers enhanced protection to landlords and tenants, fostering a more secure and equitable environment for all parties involved.
- Rental Increase Rules.
One of the pivotal changes introduced by the new law relates to rent increases.
Landlords can now only increase the rent after the expiry of the tenancy agreement, and any rent adjustment must adhere to RERA’s rental increase calculator.
This calculator considers local rent averages, property conditions, and tenancy duration.
- Termination of Rental Contracts.
The new rental law sets clear guidelines for landlords’ termination of rental contracts.
If a landlord decides to terminate a contract, valid reasons such as non-payment of rent, breach of contract, owner’s personal use, or property sale must be provided.
The notice periods for termination vary based on the reason for termination.
- RERA’s Role in Termination Rules.
Dubai’s Real Estate Regulatory Agency (RERA) plays a pivotal role in outlining the rules for the termination of rental contracts by landlords.
These regulations offer structured procedures that must be followed to ensure a fair process for both parties.
FAQs about Dubai new rental law.
Dubai’s new rental law is a significant stride towards establishing a harmonious landlord-tenant relationship and creating a more transparent and secure rental market.
By setting clear rules on rent increases, termination, and other rental aspects, the law aims to protect the interests of both parties involved.
Seeking advice from experts like Al Mulla Lawyer & Legal Consultant can be invaluable in ensuring compliance and making informed decisions.