Dubai residents, in case you’re planning to transfer to a different apartment or renew your tenancy contract, you can check how competitive the prices are in your area based on the RERA rental increase calculator. Do you know how to check the price range of your rented flat or villa?
RERA stands for Real Estate Regulatory Agency and this is part of the Dubai Land department which regulates the relationship between tenant and landlord. They handle issues with these two contracting parties. They have set up the rental calculator to help Dubai residents verify how much a landlord can increase the rent.
Using Price Increase Calculator to Check Rental Price of Your Apartment/Flat
This calculator is helpful in making sure that you understand and know the limits when it comes to the prices. So should the landlord overcharge your annual rent, then you can bring this up to them and explain the scenario based on the current rate in the market. Now the question is how do you check the prices if the rental increase is valid or within range? Then find out how below.
Step by Step Guide to Using the Price Increase Calculator
1. First Step is to go to the RERA website and open the page of the RERA calculator details. Here’s the direct link for your reference: https://www.dubailand.gov.ae/English/Pages/Rental-Increase-calculator.aspx
– Expiry date of the tenancy contract. You can also just use the current date as a sample in case you are new and you just want to check the existing prices.
– Choose the area, property type, sub-area, type of apartment
– Include the annual rate of the flat that you are renting
– Click the “Calculate rental increase” button
3. Check the comments from the RERA team about the area.
Note: We tried using a different number for the current annual rate, but it would show the same comments (unless you choose a different area). Regardless of changing the other options, you will get an idea of the general rate of the properties in the are based on this calculator. So this is still helpful if you want to understand the real estate market.
I usually check Dubizzle for the information on available apartments for rent. They include the prices of the property. When you scan through the available places for rent, you will get an idea how much the rental prices area. But you can also refer to this apartment calculator to check if the prices area within range.
A report from GulfNews mentions that Dubai rents this year has dropped. Their report is also based on the RERA index and they have analyzed that the prices of apartment rentals have lowered compared to last year. More details here – GulfNews – Dubai Rents Drop
The Dubai Government is always finding ways to make the system better and this land calculator can really help in making sure that landlords don’t overcharge or we will be paying the average amount in the area.