Friday 22 June 2018

New rent cap likely in Bahrain

Manama, May 20, 2014

Bahrain's Shura Council  is expected to approve a new cap on rent increases on Thursday, a report said.

The Shura will continue discussions on a draft real estate law, which sets the maximum annual rent increase at five per cent, said the Gulf Daily News report.

Some landlords increase rents by 10 per cent at the end of each year, but the Shura Council is also debating whether rental agreements should run for two years instead of one, it said.

It is due to finalise the 29-article law during an extraordinary session on Thursday.

Shura Council foreign affairs, defence and national security committee vice-chairman Jameela Salman Nusaif yesterday asked for a clear definition of tenants' and property owners' rights during its weekly meeting, which was dominated by real estate discussions. - TradeArabia News Service

Tags: Bahrain | rent | Shura Council |

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