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BBC News
08-07-2025
- Business
- BBC News
Jersey politicians clash ahead of tenancy law debate
Jersey politicians on opposing sides of an argument around the rights of tenants and landlords have clashed ahead of a debate on changing the island's tenancy changes to the existing legislation put forward by Housing Minister Deputy Sam Mezec would enable tenants to challenge rent increases and there would be a limit on the use of fixed-term Sir Philip Bailhache, who is also a landlord, called the changes "fundamentally unfair" and lodged amendments to "delete" Mezec's there is no limit to how often and by how much a landlord can increase the rent on their property and tenants have no right to appeal any changes. 'Unnecessary bureaucracy' Landlords can also issue a three-month notice period to evict a tenant without reason. The proposed tenancy law would see changes including rent increases capped at 5%, limited use of fixed-term tenancies, and shorter notice periods for bad Philip called the changes "unnecessary bureaucracy"."It's unfair on landlords to restrict their rent increases to 5% a year when inflation may be considerably higher and their own expenses of maintenance and renewals and so forth will not be capped at 5%," he said. "I don't think it will make life better for tenants because it is true that rents are high but that is a reflection of the value of property in the island."He added the changes could make landlords leave the market, reducing the number of rental properties and increasing Phillip said members of the government who own properties for rent would be able to "look at the issue objectively". 'Lack of compassion' Mezec said Sir Philip had not attempted to discuss his concerns about the law changes with him ahead of lodging his "ill-informed amendment". He said: "It [his proposals] strikes the right balance of protecting landlords when the tenant is causing a problem, but [also] protecting tenants when it's the landlord causing a problem."He added that increasing rents at times of high inflation was "enforcing hardship on tenants"."Surely this is a burden that ought to be shared," he said. "I think that it shows a lack of compassion and understanding for the experience of people who rent their homes in Jersey where it's already extortionately expensive compared to lots of other places in the world." Patrick Lynch, from the charity Caritas Jersey, said people had come to the charity for advice after having up to 30% increases put on their rent. "If those are limited then those ways of increasing rents that perhaps are not fair will be stopped," he said."That will be a benefit to the people who really just cannot afford those at the moment."As a result of viewing the legislation I think its very balanced for both sides." 'Difficult for landords' Guy Morris of Jersey's Landlords Association warned a survey showed 70% of island landlords would consider selling one unit of their portfolio if the changes came in to force. "It's going to make it really difficult for landlords to make ends meet in the future, he said."Landlords' costs have gone up by substantially more than the Retail Prices Index in recent years." He added that changes included limiting rent increases to once a year were already being done by "most responsible landlords".Later, politicians will have an in principle debate on whether the law should be actual details of the law will be discussed in September, including Sir Phillip's amendments.
Khaleej Times
01-07-2025
- Business
- Khaleej Times
How Dubai's Smart Rental Index helps residents negotiate unfair rent hikes
Tenants in Dubai are increasingly benefitting from the Smart Rental Index introduced as tenants are successfully challenging unfair and unjustified rent increases by the landlords. Therefore, rents in older buildings have started to correct downward six months after the introduction of Index as tenants successfully reverse landlord's decision to hike rents without a valid reason. 'Tenants are using the index it to stop unfair hikes — and successfully,' said Grace Jackson, leasing manager – Dubai, Huspy. 'A landlord proposed a 25 per cent increase for a tenant. Using the Smart Index, we found the legal increase was only 10 per cent based on similar buildings and the law. After showing this, the landlord agreed to reduce the hike. Another tenant in Dubai Marina challenged a 15 per cent rent jump. The Smart Index showed the market rent hadn't moved much for that building type. The landlord agreed to renew at the current rate,' said Grace. In January, the Dubai Land Department launched the Smart Rental Index 2025, which relies on an advanced building classification system that considers all technical and service-related aspects of properties. Each building is evaluated based on a comprehensive set of criteria, including technical and structural characteristics, the quality of finishes and maintenance, the building's strategic location and its spatial value, as well as the level of services and facilities available, such as maintenance, cleanliness, and parking management. ' The new index uses real-time data and building ratings to give more accurate rent estimates. In areas like Jumeirah Village Circle, for example, rents in older buildings have started to correct downward, while newer, well-maintained towers are maintaining or even increasing rent due to their higher building classification,' she added. Some landlords follow rules According to real estate consultancy Cavendish Maxwell, rental contract data from Q1 2025 showed a notable increase in the share of renewal agreements, likely driven by the introduction of the New Smart Rental Index, which aims to protect tenants from steep rent increases by regulating permissible rent adjustments based on comprehensive market data. Renewals accounted for 70.1 per cent of contracts in Q1 2025, up from 61.1 per cent in Q4 2024 and 62.2 per cent in Q1 2024. Grace Jackson added that most institutional landlords are following the rules set under the Smart Rental Index, but some private owners still try to push higher increases. 'However, tenants are now more informed. In Business Bay, one client was able to negotiate a better deal simply by showing the official index results. The landlord had no grounds to argue,' she added. Echoing other industry peers, she added that the Smart Rental Index has slowed down rent increases slightly. ' The index has made it harder for landlords to overprice units. It's brought more balance, especially in mid-range and older buildings.' A new era of accountability Grace pointed out that the introduction of the Smart Rental Index marks a new era of accountability. 'Agents now spend less time in subjective negotiations and more time educating both parties on what the data shows. In short, the Smart Index isn't just a tech update, it's a culture shift. And it's long overdue.' Overall, she added that this tool is making the Dubai rental market more balanced and data-driven, which benefits everyone by helping both sides make smarter decisions.
Washington Post
30-05-2025
- Business
- Washington Post
Colorado's governor vetoes landmark ban on rent-setting algorithms
Democratic Gov. Jared Polis has vetoed a bill that would have made Colorado the first state to ban landlords from using rent-setting algorithms, which many advocates have blamed for driving up housing costs across the country. RealPage is the target of a federal lawsuit filed last year that accuses the real estate software company of facilitating an illegal scheme to help landlords coordinate to hike rental prices. Eight other states, including Colorado, have joined the Department of Justice's lawsuit, though RealPage has vehemently denied any claims of collusion and has fought to have the lawsuit dismissed.
