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Speakers at seminar call for amending law on rents

Speakers at the seminar were unanimous that the present law on rents should be modified in a way so that it is better attuned with the new developments, and serves the interests of both the landlords and tenants.

Otba Saaed al Otaiba, member of the board of directors of the Chamber, who is also the chairman of the properties committee, said the annual rent hike should be changeable, and not capped at 7 per cent, as stipulated by the present law.

Al Otaiba suggested that a special committee be empowered with fixing the changeable rate with the objective of achieving the interests of the property owner as well as the tenants so as to avoid any problems between them.

He also called for reviewing the rule governing the task of the rents disputes settlement committee as the sole judicial entity responsible for settling the rent disputes in the emirate. The seminar was attended, among others, by Salah al Shamsi, chairman of the UAE Federation of the Chambers of Commerce and Industry.

• UAE