Rent is sometimes the biggest monthly cost for a family, so it seems sense that tenants would want to spend as little as possible in order to get the greatest deal. How do you tell whether you’re paying too much or too little for rent? The RERA Rental Increase Calculator is useful in this situation. All the specifics are in our handbook.
RERA DETAILS
RERA is for the Real Estate Regulatory Agency, for those of you who are unfamiliar. It is a component of the Dubai Land Department (DLD), which oversees how a landlord and renter interact. RERA also serves as the regulating body for all businesses and people engaged in Dubai’s real estate industry.
Calculator for Rental Increase
The Dubai Rental Price Index is one of the major aspects for which RERA is accountable. To preserve openness in rental transactions among properties in Dubai, this database, which records average rental prices, is updated once a year.
RERA launched an online tool called the “Rental Increase Calculator” to make it simple and user-friendly for UAE citizens to access the Rental Price Index. The RERA calculator aids users in determining potential rent increases or learning the typical or “trending” rent in each Dubai neighborhood.
All Dubai residents are welcome to utilize this online service, which is cost-free and a useful tool for making well-informed decisions regarding renting in Dubai. Let’s examine the RERA Rental Increase Calculator’s operation.
USE OF THE RERA RENT INCREASE CALCULATOR
With just a press of a button, the RERA calculator may be used. The RERA calculator compares the cost of your property to the typical costs of nearby homes that are comparable to yours.
Before beginning the procedure, you would need to be aware of the following information.
- Property type: staff housing, residential, commercial, or industrial
- existing contract expiration
- Location, neighborhood, and whether or not the property is freehold
- Property class (apartment or villa)
- number of bedrooms
- present-day yearly rent
Use the online RERA rent calculation by following these instructions after you have the necessary information.
- Open the Dubai REST app.
- Launch the Rental Growth Calculator
- Choose the kind of property that interests you.
- Fill out the RERA rent calculator with the necessary information.
- To obtain your result, use the “Calculate Rental Increase” option.
The RERA calculator’s screen will display the typical rentals in your neighborhood for the property type you’ve chosen and let you know if you qualify for a rental increase once you click the “Calculate Rental Increase” button.
The data offered by the RERA rent calculator will help you understand the true worth of the property you are leasing, whether you want to rent villas in Jumeirah or relocate to flats for rent in Dubai Marina. Additionally, you’ll be able to see whether your landlord is charging you more than what is agreed upon.
This is the framework for price increases a landlord can use, according to the most recent Rental Price Index in Dubai.
- If the rent is less than 21–30% of the area’s average, there will be a 10% increase.
- If the rent is 34% to 60% cheaper than the national average, there will be a 15% rise.
- If the rent is less than 40% of the average, there will be a 20% increase.
- No rental increase is necessary if your current payments fall within the aforementioned range.
According to the regulations, the landlord must notify the tenant of any price increases at least 90 days before the contract is set to expire. The renter has the right to reject the increase if this stipulation is not satisfied.
REMINDERS REGARDING THE INCREASE IN RENTALS IN DUBAI
- When negotiating lease agreements, RERA urges both renters and landlords to use the Rental Increase Calculator.
- Existing and new tenants who are renting flats in Dubai must quickly verify the Rental Price Index utilizing the RERA rent calculator.
- To find out if they are permitted to raise the rent on the homes they are renting out, landlords should utilize the RERA calculator.
Landlords are only permitted to request a rental price increase three months before to the expiration date of a rental contract, as per the current RERA Tenancy legislation. Additionally, an increase is permitted provided the rental rate is at least 22% less than the regional average market price for properties of a comparable type.
FAQS
WHAT RIGHTS DOES A TENANT HAVE IF A LANDLORD VIOLATES THE RULES?
As a tenant, you should be aware that you have the right to refuse the rental increase if your landlord doesn’t follow these guidelines. You can file a complaint with your landlord and ask for a reduction in rent if the RERA rent calculator indicates that the asking rent is much higher than the range specified. But if the conversion fails, you may lodge a grievance with Dubai’s Rental Dispute Settlement Center (previously known as RERA Rent Committee). Here is how to file a case in Dubai for a rent dispute.
WHAT SHOULD A TENANT THINK ABOUT BEFORE LEASING A PROPERTY?
When it comes to tenant rights, Dubai has severe laws. You may read our blog post on things to think about before renting a house to avoid issues. Understanding the various RERA forms might also be useful.
We now have it! All the information you want on the Dubai rent calculator. We really hope that our post on the RERA Rental Increase Calculator was beneficial to you. Check see our article on Ejari in Dubai to learn more about different regulatory frameworks in Dubai.
Add a comment