Abdulaziz Al-Issa, editor-in-chief, writes : Lease contracts ... . A painful end for the tenant

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The local real estate market suffers from many distortions that work to draw a chaotic picture on the general scene despite the efforts of the competent authorities in establishing laws and regulations that work to consolidate the strength of the market and make it a productive economic activity that serves the citizen and fulfills his various desires, whether he is an investor, tenant or halal owner.

These distortions in the real estate map are manifested in the issue of high rental prices, both residential and commercial.

These distortions in the real estate map are manifested in the issue of high rental prices in both residential and commercial sectors, and those who follow the details of this issue find that some malls and large markets are submitting to the auctions carried out by some tenants on each other, resulting in high .space«> A significant increase in the rent of shops and exhibitions until the increase in some markets reached more than 600% and such speculation in raising the rental value puts the owners of small and medium enterprises between the hammer of the owner and the anvil of exit from the market, which are two bitter things and in the end the negotiations reach the exit from the market by the owner's order and in response to his desire, and if this situation continues, there will be a distortion on the national economic map by the disappearance of small retail establishments.

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As for the other distortion related to the residential sector, and with the beginning of the Ministry of Housing to implement the "Rent" program, the rental prices of apartments rose in a short time until the price of a three-room apartment reached 40 thousand riyals, and it is noticeable that the owners have increased their prices as a pre-emptive step before submitting contracts to the electronic "Rent" program so that the price is fixed on that and thus becomes binding on the citizen who has become a victim of real estate marketing from some individuals and companies that represent the owner without regard for the tenant, who is greatly affected by these sudden increases, which have social effects represented in the displacement and exit of some families from housing due to default, and divorce is the easiest and easiest solution, in addition to children away from their schools ...etc.

Therefore, to avoid and avoid the losses that await tenants, the tenant should not be deprived of his right to a mechanism that preserves all rights, especially when he spends money in maintenance, furnishing and decoration until it is suitable for commercial activity or comfortable housing, it makes no sense to be evicted from it after a short period of time that may not exceed a year, incurring all these losses ...

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Editor-in-Chief

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