More residential options are opening up across the city that allows rents to be split over four cheques … and even more. And the trend of multiple cheques is spreading as Dubai’s landlords believe this is an incentive that potential tenants are more than likely to be attracted to.
“If we compare this to July 2016, 66 per cent of agreed rental contracts were with one cheque and only 4 per cent were had four cheques. If we drill down further, we are seeing the majority of rental contracts — 90 per cent plus — negotiated in four cheques or more in Layan, Falcon City of Wonders and Al Waha”, said Lynette Abad, Head of Property Monitor.
Property Monitor bases these findings from the rental contract data supplied by leading estate agencies in Dubai. “The pendulum has certainly shifted from a landlord-driven market to a renter’s,” said Abad. “With new supply causing rental prices to drop, tenants have the power to negotiate on pricing and in the number of cheques.
Source Credit: Khaleej Times
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