The Low Cost Rent Revolution is Coming!
It's the same for everyone in the UAE, when the conversation of rent come up, stress levels rise. With the common salary for UAE residents being between AED10,000 to AED15,000 it is close to impossible to rent a property in Dubai without taking out a huge loan. With many residents braving the Sharjah traffic now, because of radical price drop between each Emirate.
But this might not be the case anymore! A Dubai-based property consultant has come up with a Progressive Rental Scheme, the proposal involves a tenants rent not rising until that person has had an increase in their salary. This means that your rent will stay the same, until you get a cheeky little raise, then and only then, will your rent price face an increase! So stop worrying, and do this instead...
Landlords are, of course, a little reluctant for this to happen, especially since the 1.4% rent drop in last years quarter. However this rent drop was not noticed by tenants, and has not made an impact.