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'One cheque' demands ease as credit tightens
by This email address is being protected from spam bots, you need Javascript enabled to view it on Friday, 21 November 2008Posted on Thursday, 4 December 2008
one cheque days over
Posted by md at 09:26 UAE time
with a lack of credit available to purchase a home, property sellers will struggle to unload there property. with more property available for rent, you'll see the rental market plummet. the agents and landlords deserve what's coming as their greed has finally been punished.
as for the one cheque, first of all, if you needed to take a loan to pay your rent to begin with, somethings wrong with your budgeting. either find a cheaper place, or just leave dubai altogether. anyways, with such people unable to get loans to pay their rent, landlords may have to further lower prices or relax terms to what they were a few years back 4 cheques...
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Posted on Tuesday, 25 November 2008
Real Estate Agents
Posted by S Johnson at 16:44 UAE time
Who drives the real estate agents? Where do they derive the power to be so rude? The immediate answer would be "market demand". If so, think again, please.
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landlords
Posted by Philip at 08:38 UAE time
My landlord is a prominent business man and extremely wealthy yet he now needs me to move out of my rented villa for his sister to live in it. Yeah right!! Having tried to bypass the rent cap the last three years and failing , he is now using the loophole RERA has obviously left in place to get what he wants. When he first bought the villa of the previous owner it was ," I am only increasing the rent because we will provide better maintenance". That never happened.
Please don't tell me that landlords are sympathetic, they want a return on their investment as does everyone but they treat real estate as a short term investment that should give them immediate profitability nothing like the old days in Dubai when we all knew we needed each other and we all knew building this place was a joint effort that required mutual respect. The new gulf attitude is now evident in the childish ( throw the toys out of the pram, I don't want to play anymore) attitude when they realised they can actually lose money on the stock markets and that they don't have a God given right to guaranteed profit in every venture.
Reality check and about time for this generation of spoilt and pampered individuals who wouldn't know what a real hard days work is.
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Posted on Monday, 24 November 2008
'One cheque' demands ease as credit tightens
Posted by Nirmesh Tiwari at 22:24 UAE time
Dear All,
All of us know very well that the rents in UAE are very highly inflated, and the major contributors are the Real Estate Agents whoc just out of speculations increse the rents and lure the landlords of higher rents (its not the fault of landlords).
Saudi Arabia is a brilliant example where Government has really put all efforts to take care of the residents in terms of rents, still in KSA at good locations once can rent a 2BHK for around 15K-20K S.Riyals, so thats very realistic and not the UAE rents.
All in all, these greedy Real Estate Agents must be put-off the UAE markets and then rents issue will be normal.
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Landlords - Sypathetic ???
Posted by Dreading 2009 at 19:00 UAE time
Its obvious the writer has all paid accomdation as part of the package or is trying to be politically correct and not calling spade a spade. Landlords in Dubai and their sidekicks are still bent on fleecing people.
I'm dreading 2009 as my contract comes up for renewal. For every rule thats been introduced to give so called relief to us tenants, they have 10 ways of beating the system.
Its only when they are sure that they will have to lose a customer and other one is not coming in is when they agree to take 2 cheques.
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Get Real!
Posted by Tani at 15:53 UAE time
The Government need to step in and change the rules, it is about time Dubai came in line with the rest of the world as far a property rentals are concerned, the cost of renting over the last few years is beyond a joke, couple this with the fact that you cannot even share a property, and then you have to pay your rent up front!!!!!!! It is a recipe for disaster for some people, a never ending circle of debt, which culminates in them not being able to afford to leave the country.....how mad is that??!!!
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This is pay back time
Posted by Abdul Shaick at 10:27 UAE time
The real estate agents should be taught a lesson or two. Hope the time has come to deliver the crushing blow to these greedy and ruthless agents.
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Posted on Sunday, 23 November 2008
Landlords willing to take more than one cheque!!!???
Posted by Padmanabhan at 17:12 UAE time
In all fairness let us agree that when Dubai buildings were owned exclusively by the locals, we had an amount of empathy from them. I have been in Dubai for more than 30 years and I have seen quite a lot of it. Landlords in those days used to take monthly payments and deposit was something not really there.The advent of one real estate company in 1975 started to change things. I must blame the greedy real estate agents who are the real culprits. Most of them came and started a company with little or nothing ( I am not talking about the MNCs) and grew by the year extracting hefty commissions. Slowly the real estate brokers begun to take over the whole building from locals and hiked the rent and profited and a number of slightly lazy landlords obliged. The trend developed over the years into what it is today. Then the trendy new realty developers and brokers started to come in and effectively distroyed the fine fabric of this place. Dubai now lost its grace and become a place where greed for money is the motivator for most people. If the real estate owners are beginning to change, well and good. Those of them having some Islamic or any other religious value system remaining in them should start to become rational and sensitive to the fellow brothers and sisters who come and work in this country due to their sheer need. Hopefull the SOUL of Dubai might then start to come back into its origin!. Best wishes to all.
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John Davis, CEO of Colliers
Posted by Sonia at 16:20 UAE time
“Rentals are getting so high that for people to come up with 100,000 dirhams straight off is sometimes a bit difficult.....”
Sometimes? Which world is the gentleman living in?
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The rent cheques
Posted by George at 10:29 UAE time
When I have landed in Dubai in the spring of 1999, all the buildings sported TO LET or FOR RENT signs. Four cheques were the norm. 25000 was an exorbitant rent. 25000 was a huge salary. There was no "new Dubai". EMAAR was just starting; some years later, the Greens having the Rent to Own scheme.
Although the prevailing trend is to renew the population every three years, or even more often, there are some of us who remember the real Dubai and commiserate with our local friends. You know, the ones whom you don't see any more in their own country.
Does it really take a slap in the face to open your eyes and see?
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Posted on Saturday, 22 November 2008
One cheque' demands ease as credit tightens
Posted by Sam Young at 16:23 UAE time
Wow, very exciting news! I think landlords should reduce the rents by up to 50% and allow monthly payments with two months deposit like any other country of the world. When this happens, i think it deserves to write an article about it. Real Estate developers, investors and Landlords should understand that real estate investment is long term investment and start reducing rents and allow monthly payments. Greed is what we got us in this economic crisis and is against any religion. Fairness is what is needed now!
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Dubai landlords and being nice?
Posted by sandi at 15:22 UAE time
How magnanimous! They are prepared to accept more than one check! Over the past couple of years it was 'I hope the landlord will rent me his/her property. I promise I will be good look after the place better than my family, carry out all the repairs, in some cases improve on the property' and then, at the end of the year graciously accept an increase in rent! Like I don't need to make ends meet and the only landlords have to cope with the rising cost of living. Well I hope the tide turns and the landlord tenant equation is more in favor of the latter. But who knows with the ever changing coastline of the UAE which way the tides will flow!
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Deplorable situation!
Posted by John Doe at 12:32 UAE time
I agree with both the comments, in times like these rents might even go up because of the dearth that may come from not buying new properties... but I feel it is us the population in Dubai who has actually fueled this greed in the locals!
It's a miracle that nothing screwed up during the Atlantis party and the audacity the organizers have to show off in times like these!!!
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Llandlords sympathetic!
Posted by Hussain at 12:20 UAE time
Looks like some of us have our heads stuck in the clouds.
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Why not legislate 'up front' payments?
Posted by val at 11:35 UAE time
This problem can be easily solved if the UAE government acknowledged the plight of tenants. Instead of the supposed rent cap, which the landlords still find ways to circumvent, why not introduce a cap on the up front payment? It would certainly be a lot easier for people to raise funds quarterly than yearly.
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