Tuesday , October 23 2018
Home / Qatar / Emir Issues New Law On Real Estate Leasing

Emir Issues New Law On Real Estate Leasing

Photo: Qatar Living

HH the Emir Sheikh Tamim bin Hamad Al-Thani issued a new law on Monday amending some provisions of the Law No.4 of 2018 on real estate leasing.

According the new law the leases must be in writing and registered. The current lease contracts will have three months to satisfy the new stipulations. The written contract should include name, address and nationality of the lessor and the tenant, details of legal representatives, duration of the lease, amount of the rent and means of payment and the purpose of the lease in addition to all agreed terms, said the report.

The amendment also requires the lessor to register the lease contract with the registration office of the property leases within sixty days from the date of its conclusion. A fee should also be paid which will be dependent on the amount of rent. The fee will be 0.5 percent of the annual rental value, subjected to a minimum of QR 250 and maximum of QR 2500.

The Law can stipulate a fine of not more than QR 10,000 for those who violate the provisions.


About Abishek

Check Also

Emir To Meet US President Trump In Washington Today

Emir HH Sheikh Tamim bin Hamad Al Thani will be meeting US president Donald Trump …

Skip to toolbar