The city's new Smart Dubai Rental Index has mandated that landlords in Dubai give you a 90-day notice before raising your rent. In light of Dubai's population growth and rising housing demand, this action aims to protect tenants and stabilize the thriving rental market. A more thorough breakdown of property prices is provided by the revised Smart Rental Index, which was unveiled on January 2 and includes a star-rating system for structures.
The new method offers real-time updates for every building throughout all of Dubai's areas, including freehold and non-freehold zones, using artificial intelligence (AI) technology, in contrast to the previous index, which was updated yearly and based on zones.
According to the new regulations, which were verified by the Dubai Media Office on Sunday, February 16, landlords are required to provide renters with a minimum of ninety days' notice prior to implementing any rent increases. Regardless of the index's recommendations, the rise will not be executed if this notice is not delivered.
By comparing the current rent to the average market rate in the area, the index will also decide if rent hikes are permitted.
The Smart Rental Index seeks to combine the demands of landlords and tenants with AI-backed precision and more lucid criteria, offering a much-needed foundation for Dubai's fiercely competitive rental market.
