- With the property market swaying in the favor of tenants, this is a good time for you to negotiate on rents.
- Tenants can compare their prices to the current market rates and persuade landlords to lower their rent.
One of the most impressive things in the futuristic Dubai skyline is that not only it’s a touristic attraction but you also get to work and live in it.
Naturally, finding a job and home that you love are two of the most decisive factors to make yourself feel at home in the UAE. While everyone aspires to find comfortable accommodations that make for a convenient commute, provide for all your amenities and give you a sense of community feeling, the rent you pay can often overpower these conditions.
However, if you feel that your current rent is too high, and if you are looking to find a new place to call home in Dubai, there’s good news, the real estate market is showing signs of a downturn.
So, whether it is time to renew your agreement or shift into a new house, consider these tips to negotiate a lower rent rate with your landlord.
9 essential tips to negotiate a lower rent in Dubai
If you start looking in advance, you get leeway to research areas and prices, verify and reject offers, and take an informed decision. The more you know, the stronger the chance of you getting the best deal. It’s always best to start negotiating prices at least 90 days before your lease ends. Of course, if you have only recently moved to Dubai, you may need an accommodation immediately. But even then, you can consider living in a hotel apartment for a temporary period before you enter a long-term rental agreement for a more permanent residence.
Consider your options
Before you venture out to find a house in Dubai consider factors such as how much space you need, your home-to-work commute, your lifestyle and even how long you’re planning to stay in Dubai. The ideal combination would be a place that is centrally located, offers a safe living and is within your budget. Keeping these points in mind, do ask around and keep shortlisting before you talk money.
Research before you search
Once you’ve considered your options, you can start zeroing in on where you want to live. A simple search will do the trick.
Next, call, meet and inspect the spaces with the landlords to get a better idea of what’s in store. To make your search stronger, track the RERA Rent Index. Managed by the Dubai Land Department’s Real Estate Regulatory Authority (RERA), this shows the average rents for all communities in Dubai. So, if you see that rents in your area are dropping, arm yourself with this official information and it will be a sure way to persuade your Landlord into reducing his rate too
Compare nearby prices
If you feel like your rent is too high, one of the first things you should do is check prices of other properties in your residential area. If you see a stark difference then there is no reason why you shouldn’t put forward a different renting price – landlords will have no option but to comply or risk you moving to another property down the street. And in this market, many landlords can’t afford to lose tenants.
Show why you’re a great choice
One of the smartest things you could do to get an upper hand in negotiations is show why, as a tenant, you’re worth keeping. Give some background information about yourself, and show intentions of staying long.
Landlords detest the idea of having to face complaints about unruly tenants and looking for new ones often. It is not only a hassle but is also costly. To negotiate with your current landlord, show your track record and point out how well you’ve maintained the property and been a responsible occupant on the whole. As a result, the Landlord is more likely to succumb to your needs.
Be reasonable and honest
Giving the landlord an impression of a win-win agreement is an amicable way to lower prices. Ask for a realistic number, something that fits your wallet but doesn’t make a large dent in the landlord’s income either.
Make small sacrifices
Rent in Dubai is often an all-inclusive package which can be disseminated into your Air Conditioning, Telecom, Electricity and Parking costs apart from the accommodation. If you’re someone who doesn’t watch television and use Wi-Fi, or doesn’t drive, inform your landlord and you’re sure to get a considerable cost cut.
If your landlord sees himself losing a steady income in the shape of a trustworthy tenant, he may himself suggest a lower rent rate. However, do ensure that you have other options in place. If you were already paying a lower-than-market-rate rent, then the landlord will be glad to let you go and find someone willing to pay a higher rent.
If you think your landlord has increased your rent exorbitantly and is treating you unfairly, do exercise your legal rights as a tenant. Approach the Rental Dispute Settlement Centre (RDC) at the Dubai Land Department and the authorities will help settle your differences smoothly.
Finally, don’t hesitate in asking for a lower rent. If you do your research well and use these tips, there’s quite a chance for you to save a few dirhams off your expenses.