Dubai sees sudden rise in 'approved' co-sharing properties - at higher rents

Dubai: More approved co-sharing or co-listing rental options are becoming available in Dubai as authorities crack down on unauthorized subletting and portioned living spaces.

The co-sharing options are becoming available in multiple locations and which also means different price points are available for those seeking to rent.

Of course, these rates are on the higher side compared with those some of the tenants who were using non-official sub-let residential options. (The crackdown on portioned leasing started after the devastating fire at a tower in Dubai Marina recently.)

“These co-sharing options are around the Dh800-Dh2,250 monthly on average depending on location - but there are a lot of enquiries happening that could lead to a rate increase,” said a leasing agent. “There are also be more property owners or landlords willing to offer their units on co-share basis.”

“Co-sharing options are expanding faster in central areas like Business Bay, Dubai Marina, Downtown, Jumeirah Lake Towers, and Al Barsha,” said Rashed Hareb, co-founder and CEO of Rentify.

“It’s clear this isn’t just a passing trend but a lasting shift in how people choose to live in the city."

What’s different to these shared tenancies are that everything is after the approvals are received from the Dubai Land Department. That would mean all the tenants occupying those properties are listed on the rental agreement.

There are even property apps that focus on shared accommodations that are turning popular with the new demand that’s there in the market.  

Ahad Al Salman is founder and CEO of the Roomy Finder app, and he says: “Tenants can choose who to live with, what language, and from country they are from.

The app also allows any landlord to list their properties across the UAE, whether it’s a room or the whole place. Our mission is to simplify shared living in Dubai.”

For those who had been paying Dh800-Dh1,200 a month at unauthorised sub-lets, the new options available are still too costly. Many have opted for options in Sharjah as a way out of the situation.

"From paying Dh1,000 a month for a room to having to pay anything well above that for my own rented studio is difficult," said a resident who had to recently leave his co-shared unit after the landlord issued an eviction.

According to Hareb, "Many sub-let arrangements have moved away from public advertising to private, word-of-mouth channels.

"While the visibility of subletting is falling, affordability pressures in some areas (of Dubai) mean that a residual level of such units will likely remain in the market for the foreseeable future."