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The decision to increase or keep the same rent entirely depends upon your contract. You are in position to increase the rent, once the contract duration is completed. For instance, if you have signed a 1 year contract with your tenant, then after this period you are in position to increase the rental amount according to your demand. However, if the contract duration is more than a year like 2 or 3 years, then you cannot increase rent during the given time span.
Another point to consider; Rent may be increased in accordance with the terms of the lease but in any event no more than once a year and by no more than 5% (though this figure may be revised by the Executive Council of Abu Dhabi). This cap will also be applicable on the renewal of a lease.
Hope i have made my point clear.
583 days ago
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