The Trend of Rent Cheques accepted by Landlords

  • 17APR
    The Trend of Rent Cheques accepted by Landlords

The majority of rental agreements for residential properties in Q1 2018 were made with 1 cheque (50 per cent of total), followed by 24 per cent rent payments made through 4 cheques.  The top areas where 4 cheques were prominent during Q1 2018 include Mirdif, Emirates Living, Arabian Ranches, Jumeirah Village Triangle and Jumeirah Park.

 

The trend has reversed since Q1 2017 where the majority of rent contracts (43 per cent of total) were 4 cheque payments. This is mainly because some tenants are negotiating larger discounts on base rents and agreeing to make 1 cheque payments instead of multiple payments.

It has been a tenant led market and with the increase of supply of new units coming online has provide every opportunity for tenants to negotiate with their landlords. 

* Statistics and reports provided by Property Monitor powered by Cavendish Maxwell.  
 
17th April 2018

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