New law brings relief to landlords in Abu Dhabi
Landlords in Abu Dhabi will now be able to easily evict low-paying tenants, with the help of the new real estate legislation in Abu Dhabi, passed Wednesday.
The new law would be implemented in the UAE capital in November and the judges will determine rent disputes under the umbrella of the Ministry of Justice.
"While five percent rent cap will remain, the legislation will allow landlords to evict tenants at the end of the lease period, after giving two months' notice for residential property and three months for commercial property," said a well known newspaper.
Under the new law, the automatic right of tenants to renew leases for five years with a maximum five percent rent increase each year, would not be allowed now.
The global financial meltdown, though has scrapped rents in Dubai, but they have stagnated at higher levels in Abu Dhabi due to less accommodation on the market.
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