Could someone who knows Dubai well please advise. I am based in the UK and purchased a 1 bedroom apartment in international city area in 2012. My agents (who I purchased it from) in the UK are responsible for collecting rent and looking after the property. My monthly rental from the apartment is 2,500 Dirhams per month and it's been the same since 2012 but according to my research, the average rent I could expect is around 4,000 Dirhams per month. I have also realised that the property price has gone up and inquired with my agent about the rental. He advised me that the rents has gone up in the area BUT because I have same tenant the rent cannot be raised as the amount is in the contract, it's only possible if a new tenant takes over.
This doesn't makes sense to me as I'm sure the contract would have to be renewed every few often and that shouldn't stop raising the rent as long as prior notice is given to the existing tenant.
Also, I have to pay about 8,000 Dirhams per year for maintenance and my agents fee in UK, both gets deducted from my rent, so by end of the month nearly half of my rent is gone!
I'd like to get a better idea about the rental I should expect in the area before I start questioning my agents. So any advise from the locals/people who live or work there would be much appreciated.
Many thanks