Lease
#1
Forum Regular
Thread Starter
Joined: Aug 2008
Posts: 58
Lease
Hi,
We are moving to Dubai and start work tomorrow, we arrived on Tuesday and have been busy searching for somewhere to stay.
Finally found something we liked today in South Ridge, happy with the price etc and decided to go with it – however just had a call from the agent to tell us that the land lord will only sign a 1 year lease to enable him to increase rent next year with a new tenant! Is this the way they are all going now?
Agent said its simply a take it or leave it!
We intend to stay for 2 years.
Andy.
We are moving to Dubai and start work tomorrow, we arrived on Tuesday and have been busy searching for somewhere to stay.
Finally found something we liked today in South Ridge, happy with the price etc and decided to go with it – however just had a call from the agent to tell us that the land lord will only sign a 1 year lease to enable him to increase rent next year with a new tenant! Is this the way they are all going now?
Agent said its simply a take it or leave it!
We intend to stay for 2 years.
Andy.
#3
Re: Lease
Hi,
We are moving to Dubai and start work tomorrow, we arrived on Tuesday and have been busy searching for somewhere to stay.
Finally found something we liked today in South Ridge, happy with the price etc and decided to go with it – however just had a call from the agent to tell us that the land lord will only sign a 1 year lease to enable him to increase rent next year with a new tenant! Is this the way they are all going now?
Agent said its simply a take it or leave it!
We intend to stay for 2 years.
Andy.
We are moving to Dubai and start work tomorrow, we arrived on Tuesday and have been busy searching for somewhere to stay.
Finally found something we liked today in South Ridge, happy with the price etc and decided to go with it – however just had a call from the agent to tell us that the land lord will only sign a 1 year lease to enable him to increase rent next year with a new tenant! Is this the way they are all going now?
Agent said its simply a take it or leave it!
We intend to stay for 2 years.
Andy.
MM, xx
#5
BE Enthusiast
Joined: Dec 2007
Location: Doha
Posts: 535
Re: Lease
There is a distinction between one year renewable tenancy and one year tenancy.
One year renewable tenancy means you can stay year on year and the rent increase must be in line with the rules. A one year tenancy means that after the year is up, you can be made to leave and the landlord can set the rent to any amount desired.
Obviously one year renewable tenancy is best - but if the landlord is saying one year only, given the current market, so be it. Try and be the option for the 'new' tenant in a year's time by getting on with the landlord.
One year renewable tenancy means you can stay year on year and the rent increase must be in line with the rules. A one year tenancy means that after the year is up, you can be made to leave and the landlord can set the rent to any amount desired.
Obviously one year renewable tenancy is best - but if the landlord is saying one year only, given the current market, so be it. Try and be the option for the 'new' tenant in a year's time by getting on with the landlord.
#6
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: Lease
yeh most leases will be for one year only, then they should be renewed with an increase but dont count on it, but its standard for 1 year.