Landlords
While Dubai appears to be pretty civilised on the surface long term residents here are well aware that the subject of housing or more particularity landlords is rapidly taking over conversation.
Cases of massive rent increases are now commonplace with a round 50% being the preferred figure, and it appears that landlords are also blithely breaking contracts to try and prise greater rent from expats.
This is not rumor, today the Weasel was handed a faxed eviction notice. Now we are half way through our second protected year, our fully paid up (one year in advance) rental agreement notwithstanding, it stated that the money grubbing landlord wanted me out and that 2 months notice would be fine. Now the contract does not expire until February 06 but this appears to offer little deterrent to this type of behavior.
Clearly they believe that we cannot fight this and to be honest they may be right, going against a powerful local landlord here is the definition of pissing in the wind, but if Dubai really cares about future growth they need to control this type of behavior.
It is pure unfettered greed and it is evident in almost every landlord in this town, in the short term this will fill a few grubby hands but the long term will see the cities net worth concentrated into a few hands instead of spread around shops and entertainment areas contributing to employment and commerce.
At work we have already lost 3 potential recruits who had initially accepted jobs, the reason in all cases is the cost of living here, and housing of course, is the biggest part of this, I cannot believe this experience is unique to our firm..
It is short term thinking of the tallest order, especially with thousands of houses under construction on the outskirts of town. 3 years ago rents were in a slump here and I cannot wait for the day the new stocks are released onto the market, perhaps the grubbers will then realise that their best long term returns come from looking after good tenants not turfing them out so they can put the rent up 50+ % without facing the rent committee.
This will run and run, still it should be an interesting subject .
A growling weasel.
Cases of massive rent increases are now commonplace with a round 50% being the preferred figure, and it appears that landlords are also blithely breaking contracts to try and prise greater rent from expats.
This is not rumor, today the Weasel was handed a faxed eviction notice. Now we are half way through our second protected year, our fully paid up (one year in advance) rental agreement notwithstanding, it stated that the money grubbing landlord wanted me out and that 2 months notice would be fine. Now the contract does not expire until February 06 but this appears to offer little deterrent to this type of behavior.
Clearly they believe that we cannot fight this and to be honest they may be right, going against a powerful local landlord here is the definition of pissing in the wind, but if Dubai really cares about future growth they need to control this type of behavior.
It is pure unfettered greed and it is evident in almost every landlord in this town, in the short term this will fill a few grubby hands but the long term will see the cities net worth concentrated into a few hands instead of spread around shops and entertainment areas contributing to employment and commerce.
At work we have already lost 3 potential recruits who had initially accepted jobs, the reason in all cases is the cost of living here, and housing of course, is the biggest part of this, I cannot believe this experience is unique to our firm..
It is short term thinking of the tallest order, especially with thousands of houses under construction on the outskirts of town. 3 years ago rents were in a slump here and I cannot wait for the day the new stocks are released onto the market, perhaps the grubbers will then realise that their best long term returns come from looking after good tenants not turfing them out so they can put the rent up 50+ % without facing the rent committee.
This will run and run, still it should be an interesting subject .
A growling weasel.
posted by Desert_Weasel at 5:24 pm
3 Comments:
That eviction notice is shocking - you should at least notify the Dubai Municipality Rent Committee.
I must admit I've been getting more and more alarmed over the last year at the massive inflation that is taking place. No one seems to measure this in the UAE, but I'd be surprised if it wasn't between 10 and 20%.
46 grand! It's a shame there aren't any chimneys in Dubai that you could send them up to clean and pay their own way.
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