Business | General
Law review planned to reduce rent conflicts
The law regulating the relationship between landlords and tenants is to be reviewed to protect tenants from rent conflicts, according to officials at the Dubai Economic Council (DEC) yesterday.
- By Suzanne Fenton, Staff Reporter
- Published: 23:33 November 5, 2008
Dubai: The law regulating the relationship between landlords and tenants is to be reviewed to protect tenants from rent conflicts, according to officials at the Dubai Economic Council (DEC) yesterday.
"An agreement has been reached that the law review aims at establishing a regulation law that is comprehensive and flexible to create the required balance between tenants and landlords in Dubai as well as protecting the national economy which necessitates easing procedures and restrict rent conflicts," a DEC statement said.
On law No 26 of 2007, Sultan Butti Bin Mejrin, director general of the Dubai Land Department, suggested a committee be created, composed of Rera (Real Estate Regulatory Agency) officials and members of the rents conflicts resolving committee in order to establish a sound legal framework and to ensure stability of the rent regulation process.
While the global financial crisis has battered other economies far worse than here in Dubai, rents in the emirate are also cooling off.
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