Rent-free months on new leases

Looking to move in Dubai? How about a rent-free period when you sign up for a one-year lease?
Leasing firms as well as direct owners in certain localities, especially low- to mid-range residential units, are offering sops to tenants in a tough market, XPRESS has learnt.
"I was surprised that the lease contract I signed came with two months' extra rent-free period," said Rasha, an Asian tenant who signed a contract last week for a three-bedroom unit along Shaikh Zayed Road (SZR). A two-bedroom in the same building is leased for Dh70,000, plus two months free.
In Al Nahda 2, Fizza Properties offers a 12-plus-one month free deal, while Sultan Real Estate offers a similar deal on a two-bedroom unit for Dh38,000 near the Dubai Airport Freezone Metro station. Better Homes, one of Dubai's biggest property agents, gives a two-month rent-free period in Shorooq Mirdif, a family-oriented project, where rents for a one-bedroom start from Dh40,000 per year.

Article continues below

"Tenants are effectively offered a 14-month rent period for the price of just 12 months," said Ryan Mahoney, managing director of Better Homes. "With Shorooq, there's a reasonable amount of supply for that part type of unit in this area, with fresh units that have just come into the market."
Would-be tenants must however be lucky as not all Dubai areas offer such sweeteners.