Villa renters face one-cheque payment in Springs, Meadows and Lakes

Rent for two-bedroom villas in these areas now starts at Dh95,000

Tenants living around Emirates Hills (The Springs, Meadows and Lakes) had breathe easy in the past couple of years, when rent was payable in two and three cheques.

However, things have changed since the beginning of 2012 as landlords are once again asking for the rent to be paid upfront in one cheque.

“I just rented out my three-bedroom villa in Springs and the tenant paid Dh140,000 in one cheque.

“The agent told me that there was no reluctance on the part of the tenant to negotiate on this front,” an Indian expat living in the area said.

Some landlords are willing to accept the rent in two or three cheques, but that comes at added cost.

If the tenant cannot pay it in one cheque, the rent is increased by Dh5000 to 10,000 in The Springs area and more in Meadows and Lakes, something which was prevalent during the boom years.

“Most of the landlords I have dealt with in the past six months in The Springs, The Meadows and The Lakes have opted for a single cheque.

In the case of two or multiple cheques, there is either a refusal or an acceptance with reluctance, or a slight increase depending on the number of cheques,” Partha Reddy, Residential Consultant, JLT Office, Better Homes told Emirates 24|7.

“I had paid two cheques last year but this time my landlord demanded the full rent in one cheque.

I’m fine with this as my office pays our rent but it must be difficult for individuals,” said a UK expat living in the area.

Villa prices

The ongoing rent for a two-bedroom villa is Dh95,000, and in some case goes upto Dh100,000 depending on the location.

A three-bedroom (3M and 3E type) is now leasing for Dh130,000 and some tenants are even demanding Dh145,000.

Bigger three-bedrooms (2M and 2E type) are available for Dh150,000 to Dh165,000 depending on the location.

Some upgraded villas with lake views are being advertised for about Dh180,000.

The rent for a two-bedroom villa two years back was Dh75,000 and a three-bedroom started at Dh115,000.

 

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