Realtors attributed it to the increase in demand, the availability of liquidity, and the improvement of companies' conditions

Tenants: Landlords in Abu Dhabi cancel “Corona facilities”

• Landlords considered that the cancellation of benefits comes within the framework of compensating for the decrease in rental values ​​during the past months.

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Tenants in Abu Dhabi reported that real estate owners canceled the benefits and facilities they obtained during the “Corona” pandemic, most notably obtaining additional free months in the rental contract, in addition to paying the rent on a monthly basis, noting the insistence of some owners to collect the rent through four checks at most.

While Malak considered that this comes within the framework of compensating for the decrease in rental values ​​during the past months, real estate company officials explained to "Emirates Today" that the cancellation of the advantages that Malak granted to tenants in some areas of Abu Dhabi is due to the fact that the current period is witnessing an increase in demand for leasing. In addition to the availability of cash (cash), and the presence of liquidity in the market, after the companies' conditions have finally improved.

Cancel benefits

In detail, the tenant, Ahmed Afifi, said that the owner of the property he rents in Abu Dhabi insisted upon renewing the lease that the contract be for only 12 months, refusing to give him any additional free months, as happened when he rented the apartment at the same time last year.

As for the tenant, Akram Ammar, he stated that the owner refused to get monthly checks or six annual checks to pay the rent, and informed him that this situation prevailed at the time of the “Corona” pandemic, but the situation has changed now.

Ammar added that the landlord told him that if he did not accept payment of rent in four checks at most, other tenants could rent the apartment instead.

The tenant, Yumna Zaitoun, stated that the owner refused, when renewing the contract, to receive any free months, while she had obtained two free months when renting, last year, noting that the owner also refused to carry out cleaning and sterilization operations for the apartment at his own expense, as happened last year. On his own initiative.

big order

For his part, the director of leasing at the "Care for Real Estate Management" company, Muhammad Othman Ayoub, confirmed that owners canceled the benefits and facilities they had granted to tenants during the "Corona" pandemic, in some areas of Abu Dhabi, especially Al Reem Island, which is witnessing great demand.

He explained that some landlords canceled actually giving tenants free months on the rental contract, so that the contract was only 12 months, after tenants received free months, to motivate them to rent during the pandemic, as well as many landlords requesting to pay the rent in three installments at most, and not Agreeing to grant the tenant to the landlord monthly checks.

Ayoub indicated that the market improvement, and the return of demand again, especially with the end of the repercussions of "Corona", had a major role in canceling the facilities.

Stimulate

Saeed Abdul Karim Al Fahim, CEO of Stratum for Owners Association Management, agreed that real estate owners in Abu Dhabi canceled benefits they had granted to tenants during the pandemic, to stimulate demand, in light of the presence of many vacant properties and competition to attract tenants.

Al-Fahim said that many landlords canceled giving tenants an additional month or two on the lease, so that the lease contract would be 12 months, instead of 13 or 14 months, as it was during the pandemic, as well as some landlords requesting to pay the rent in two or three payments at most, Not agreeing to receive monthly checks or 12 checks to pay the rent.

liquidity

Al Fahim stressed that the market situation has improved a lot during the recent period, and the demand for leasing has increased, in addition to the availability of cash (cash), and the presence of great liquidity in the market, after the economic conditions improved a lot, and the conditions of companies and employment conditions during the recent period.

He pointed out that rent levels in Abu Dhabi are still almost stable, and there have been no significant increases in rental values, recently, with some slight increases, due to the presence of vacant units, and the presence of strong competition to attract tenants.

In turn, the head of "Future 23 Real Estate", Ekrami Hammad, said that the rental market witnessed a growth in demand during the recent period, which prompted owners to increase rental values ​​in some areas of Abu Dhabi, such as Al Reem Island.

Hammad explained that companies owning some real estate raised rental values, by rates ranging between 5 and 10 percent, while other real estate companies announced that they intend to raise rent and real estate selling prices by 5 percent, starting next year.

facilities

Hammad agreed that the improvement in demand prompted landlords to cancel previous facilities they were giving to tenants in light of the "Corona" pandemic during periods of declining demand.

Compensation

In addition, two real estate owners, Sultan Abdullah and Khamis Muhammad, said that some of the owners showed great flexibility, and provided many facilities to the tenants, and some of them even bore losses during the pandemic, taking into account the market conditions and the tenants, and ensuring that the apartments remain occupied.

They mentioned that landlords are trying to compensate for the decline in rental values ​​during the past months with slight increases in rents, and the cancellation of some previous benefits.

Observe the circumstances

The real estate expert, Mustafa Al-Sayed, called on the owners to take into account the conditions of the tenants, and to show greater flexibility with them, noting that although most of the repercussions of the pandemic have ended, some private companies have not raised salaries to their previous levels, in addition to that some of them did not open Recruitment again.

Al-Sayed pointed to many problems that the global economy is still going through, especially in light of the new developments of the “Corona” virus, which affects various economies in the world to different degrees, and may affect rent levels during the coming period.

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