Ras Al Khaima rent cap to be issued immediately
A new rent cap is set to be implemented immediately in Ras Al Khaima, according to recent industry reports.
"The new law will set up a dispute resolving committee to handle the disputes between the landlords and the tenants," said a senior official at the Ras Al Khaimah's Emiri Court.
Under the new law, a landlord cannot increase annual rents for more than 15 per cent and this will be implemented effective immediately.
The new law will deprive the landlords from the right of evacuating their tenants unless they have strong cases against them, and those causes should be presented to the committee to decide about them. In addition, the tenancy contracts should be attested by the emirate's Municipality which will impose a fee for the attestation of the annual contracts.