Picture for illustrative purposes only. ARCHIVE

A newly announced rental law in Sharjah prevents landlords from increasing rent within the first three years of any lease agreement. This law is aimed at providing stability and financial security for tenants across residential, commercial, and industrial leases. The law, issued by Dr. Sheikh Sultan Bin Muhammad Al Qasimi, mandates landlords cannot raise rents during the first three years of a contract unless both parties mutually agree. After the initial three-year period, any rent increase must reflect fair market value, determined by the executive regulations of the law. Key conditions include: - Any rent increase agreed upon within three years blocks further increases for another two years. -Landlords must register rental contracts with the municipality within 15 days to comply with the law. -If the property is sold, the new owner cannot evict tenants or raise rent without meeting specific legal conditions. Tenants who face unexpected circumstances can appeal for early termination of the lease without incurring severe penalties, provided they meet legal standards. ICA/Expat Media ALSO READ: Full text of new Sharjah rental law of 2024
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