While tenants are struggling to pay their rent during the COVID-19 pandemic, the landlord’s rights are still secured to claim the rent cheques from the tenants unless the landrod agree to defer the rent temporarily.
In the current situation, it is genuinely encouraging to be witness many developers taking this situation into consideration and considering their commercial profit secondary to their humanitarian concern. They have provided the tenants with more flexibility for their payments. For example, a 2-month grace period which can be further extended or to split the payments into more separate PDC.
Properties investment (PI)- a Dubai Investments joint-venture company engaged in the investment and development of real estate – has announced a 3-month rent relief for all retailers within ‘The Market’ – a dedicated retail avenue, located in the Green Community, Dubai Investments Park.
Meanwhile Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai Judicial Council, temporarily suspended all eviction judgements related to residential and commercial facilities in the UAE during March and April, according to a Wednesday 25th of March statement from the Dubai Media Office. The directive also stopped all “imprisonment judgements” linked to rental disputes. However, the ruling does not apply to abandoned homes.
With that said, “While landlords have a robust list of rights to protect them if a tenant cannot pay their rent, under rental laws facilitated by the Real Estate Regulatory Agency,
“their priorities right now are to the well-being and safeguarding of tenants”, the Dubai land department said.
The situation changes by the hours so it’s best to keep a close eye on any development and updates on our page or website.