Questions & Answers
Determining the proper rental for a villa
Hello,
This is an inquiry related to rental renewal. I currently rent a 5 bedroom villa from a real estate company where I pay AED 192,500 and it is up for renewal on April 30.
As per RERA calculator, the range for 5 bedroom townhouse/Villa is 140k to 170K, thus it indicates no increase. As per search portals, there is a big price range for similar villas, 220K to 300k+.
I have given my legal notice for my intention to renew as per RERA calculator and my landlord has also given notice for renewal but indicating that it will be at a much higher rent, roughly above 250k; a 30%+ increase.
I would like to resolve this amicably, but there is a big gap between our own expectations. As per law, what are my next steps?
Sincerely,
As per your query, please note that as per the current rental index, the range is between AED 140,000 to AED 172,000.00.
There is no increase in the rental value. You can complain about the issue to RERA in order to resolve the issue amicably or we can help you to settle the issue.
Please contact us via phone or email.
