I have purchased a Hotel Condo, which came with guaranteed rental return, however I haven’t been paid my rental returns for the last one year. What can I do?

Question:

Hi I have purchased a Hotel condo unit from a local real estate company which comes with guaranteed rental return. They have not paid my rental returns for the last one year. Iam not getting any proper reply from them, but they are making money out of my investment. How can make a complaint to RERA for this?

Answer:

Thank you for your email.

By all means go and seek advice from Rera, which is in the land department building in Deira.

Rera is a regulatory body and will potentially be able to offer guidance as to what to do next but my advice would however be more direct. I would seek advice from a legal representative. Go through your contract with the real estate company to clarify the guaranteed payment option to see if taking them to court is a viable possibility.

I hope this has helped.

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