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Mohammed Bin Zayed issues resolution on extending renting contracts to Nov. 2013

WAM ABU DHABI: His Highness Gen. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council, has issued a resolution extending the deadline specified in the rent law, Law No. 20 for 2006, to 9th November 2013.

The annual rental increase, if any, should be between zero and 5% maximum, according to the resolution.

The new resolution by His Highness Sheikh Mohammed Bin Zayed will enhance social stability of tenants in the emirate of Abu Dhabi as it ensures they can remain in their residences until 9 November 2013.

The resolution also enables landlords and tenants to know the amount of any increase in advance, thereby protecting tenants against any sudden rise in rents.

Law No 20 for 2006 concerning the Lease of Premises and Regulation of Relationship between Lessors and Lessees had prevented landlords from asking their tenants to vacate the leased premises on the basis of the lapse of tenancy before November 9, 2010.

The law authorized the Chairman of the Executive Council to extend this date and the new decree extends this protection for tenants until 9th November next year.

WAM/MMYS