Dubai: If you are about to get into a rental agreement you may come across the term ‘key money’. What is it exactly and what should you do if you are asked to deposit some key money with a landlord? A Gulf News reader faced such a situation and wrote in asking for advice.
He said: “Can you please tell me what ‘key money’ is? I am trying to rent a shop in Dubai and the landlord is asking for key money, which is separate from the rental fees. Is this legal? If so, how much can the landlord charge from me? Please advise.”