Rent contract fee to be discussed

The commitee’s Deputy Chairman, Sultan Al Hosani, told Khaleej Times that a group of tenants had complained that some banks were charging Dh500 as fee for renewal of tenancy contract.

“These banks have committed certain violations like raising rent to exorbitant levels. Orders were issued to the erring banks in order to make them comply with the legal rent cap of 7 per cent a year,” he added.