The Real Estate Authority determines two reasons for objecting to the total rent for vacant properties
The project aims to organize the procedures for considering and deciding on objections to the total rental value For vacant properties, in order to achieve justice and transparency in real estate transactions, and preserve the rights of all relevant parties, based on the statutory provisions regulating the relationship between the landlord and the tenant.
Procedures for submitting an objection
The Authority explained that the objection to the specified total rent is carried out in accordance with specific controls, where the application is submitted by the lessor of the vacant property subject to objection via a network "rent"The Authority will consider the application and decide upon it within ten working days from the date of its completion.
The applicant is also obligated to complete all required documents within ten working days from the date of his notification. If they are not completed within the specified period, the objection request will be closed automatically.
The Authority will notify the applicant immediately after the issuance of the decision to accept or reject the objection through the network. "rent"
Reasons for objection and required documents
The General Real Estate Authority clarified that the reasons for objection to the total rental value specified for vacant properties are limited to two main cases, each of which has supporting documents that must be attached to the application.
The first case is that the property is subject to substantial structural or structural renovations, which requires submitting a structural restoration license, in addition to a report issued by an accredited engineering office detailing the construction or renovation work. implemented, in addition to a report from a certified real estate evaluator specifying the fair total rent value after restoration.
Regulation of the real estate market
The second case relates to the existence of a previous lease contract for the property concluded before January 1, 2024 AD, and in this case it is required to submit a report from a certified real estate evaluator stating the fair total rent value on the date of issuance of the controls, in a way that reflects the realistic market value of the property in that period. Enhancing transparency and protecting the rights of the parties
The General Real Estate Authority confirmed that this The controls come within the framework of its ongoing efforts to regulate the real estate market and ensure a balanced relationship between landlord and tenant, which contributes to raising market efficiency and enhancing the real estate investment climate in the Kingdom. It also aims to create a clear and unified mechanism to address objections to the total rent for vacant properties, in a way that reduces disputes and ensures fair evaluation of properties according to approved professional standards.
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