Planning to rent a new home in Dubai – then just do it fast

Planning to rent a new home in Dubai – then just do it fast

Dubai: Tenants in Dubai planning to shift residences should make up their minds fast – rental gains are showing no signs of slowing down this summer. In fact, landlords are coming up with increased demands, and even revising them upwards within weeks. This could pick up further momentum in September as Dubai’s residential rental market continues its march towards full recovery. If tenants find themselves with a rental demand they think they can absorb, then go for it is what estate agents are saying. Even relatively budget-friendly locations such as Jumeirah Village Circle are turning pricier, with a one-bedroom there now renting for around Dh53,000 compared to the low Dh40,000s a year or more ago. A two-bedroom would be over Dh90,000 depending on the build, newness of the property and other factors. So, is a tenant better off giving in to a higher rental increase by his/her current landlord than seek a new home? “A lot of the time, tenants renew based on convenience and also the increase as per RERA’s (Real Estate Regulatory Agency) rental index,” said Liam Dawett, Leasing Manager at Betterhomes. “It usually is cheaper than the price of entering a new contract, where in some areas