It's an easy-to-use tool that can show you the result in an instant; here's a step-by-step guide
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Rent fluctuations are common in Dubai. They rise and drop depending on market conditions and factors like supply and demand. So, how do you make sure you're not paying more than you should?
Come renewal time, tenants are likely to receive a notice of increase — after all, landlords have the right to hike rents every year. However, they cannot go beyond the rates indicated in the Dubai rental index.
This is where the online tool from the Dubai Land Department's (DLD) Real Estate Regulatory Agency (Rera) comes in.
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Called the Rera calculator, it tells you the justified rental increase and average rates in the real estate market — all in just a few clicks.
Here's a step-by-step guide:
You will need to enter some details from your tenancy contract so keep it ready.
Click on the 'Services' tab and then select 'Popular Services' or 'Informative'. Look for the 'Inquiry about the rental index' option that will take you to the calculator.
Once you click 'proceed' and 'access the service', you'll find a form to fill out. Enter details about your residence: Contract End Date, Property Type, Area, Number of Bedrooms, and Current Annual Rent.
Click on the 'calculate' button and the result will pop up. It will tell you average rent for a property in your area and the maximum percentage of rent hike. You may export this result as a PDF.
According to information available on the DLD website, here’s how the calculation works:
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Kirstin Bernabe-Santos is Senior Editor who brings out the 'so what?' in articles that come her way. There's gold in every story, and her mission? Find it - and give you the bling.
kirstin@khaleejtimes.com