Landlords in the emirate of Sharjah are prohibited from hiking rent prices for the first three years of a tenancy contract, and for two years thereafter, under a new tenancy law issued on Wednesday.
The law is set to regulate dealings between tenants and landlords in residential and commercial properties.
Under the new law, tenants have right of occupancy for three years from the signing of a lease. Tenants cannot be asked to vacate the property unless they are refusing to pay rent.
The law will also see the set up of tribunals to handle tenancy disputes.
The tribunal will include a sitting judge appointed by the Minister of Justice and two experts. Decisions issued by the tribunal will be binding but can be challenged before an Appeal Tribunal.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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