Dubai has come a long way from a barren desert to the list of world’s leading cities. Naturally, Dubai enjoys the coveted position of housing the most beautiful of apartments and villas. Premium location, luxury and all the modern and contemporary elements make the properties for sale in Dubai the most sought after ones. Apart from this, Dubai also embraces a seamless yet a stable system of renting in its real-estate domain and this blog will put light on the 5 ultimate yet important rules to know before renting a property in Dubai. So let’s dive in.
Get familiar with Your Property
Knowing your property or getting familiar with your property is the first step in the guide to do the expert property management for Dubai landlords. A landlord must know what is the lifespan of his property, last date of maintenance and new elements that can enhance the property overall. In Dubai, everything follows the trend of being readily available and being contemporary and modern in its nature. Therefore, your property for sale in Dubai must also showcase the modern and up-to-date element in itself. Knowing your property will set a strong foundation for you to undertake the next steps with great care and caution.
Plan your Investment
If your property for rent in Dubai requires prepping before getting enlisted for rent to the public then as a landlord, it is necessary for you to plan your investment. Make a list and arrange the tasks in order of their priority, time consumption and other factors. For example, if you have an apartment for rent in Dubai and you think that the paint needs a redo along with the refitting of some fixtures then you should plan these things beforehand. This is in actual, your real investment in a rental property and this will also prolong the maintenance span of the property.
5 rules to know before renting a property in Dubai
Rule#1. Work with RERA Registered Brokers
You must always consult a RERA-registered broker. RERA is for Real Estate Regulation and Development Act which enforces the real estate agents in Dubai to register them with it in order to facilitate transactions. Therefore, the first rule to know before renting a property in Dubai is to always look for brokers who are RERA-registered.
Rule#2. Register your Contract with Ejari
Ejari is an online portal which has been in effect since March 2020. This online portal effectively manages the relationship between landlords and tenants in Dubai by enabling all the parties to register their rental/lease contracts on the portal. Ejari guarantees transparency between the landlord and the tenant and provides a legal framework for all the contracts.
Furthermore, these contracts are readily available for review and revision in case of rental disputes. For renters, it is advised to get a receipt, property’s ownership’s proof and a landlord’s passport copy while registering their contracts with Ejari. Therefore, the mandatory second rule to know before renting a property in Dubai is registering your contract with Ejari. This will provide you a convenient and trouble-free rental experience in Dubai.
Rule#3. Know about the Rent Index set by RERA
The third rule in the list of rules to know before renting a property in Dubai is the knowledge about the rent index set by RERA. RERA proposes a set of rules to follow for landlords regarding their rent increase. So if you think your landlord is raising the rent on a whim, then you must get to know about the Rent Index in this regard. At present, the rules in the Rent Index state that;
- The landlord cannot increase the rent if the tenant is paying up to 10% less than the average rental value of similar units.
- Landlord can legally increase the rent by 5% if the tenant is paying 11-20 percent less than the average rent of similar units.
- The landlord can also increase the rent by 10% in case of the rent being 20-30 percent low than the current demand or value.
- If the rent is short by 30-40% than the current value then an increase of 15% can be made.
- If the tenant is paying the rent that stands 40 percent less than the ongoing value of similar units then the landlord has the right to increase the rent by 20%.
Rule#4. Notice before increase in Rent
The landlord is subjected to notify the tenant before increasing the rent. The notice should be of ninety days.
Rule#5. Notice before Eviction
The landlord is also subjected to give a 12-months written notice upon the request of eviction. This notice should be in the form of a notarized document or sent via registered mail. Furthermore, a 12-month notice is required if the landlord wants to sell the property.
In a scenario where the landlord requests for the tenant’s eviction due to immediate move in of the relatives or any other person in this regard then the landlord is not allowed to re-let the property for two years from the date of eviction. Therefore, the last but equally mandatory rule in the list of 5 rules to know before renting a property in Dubai is having the right to be notified before any major changes in rent or eviction.
Final Words
To know more about Dubai apartments for rent and sale and Dubai villas for sale and rent, visit binayah.com or call us at 0800-BINAYAH. Our expert property management Dubai team will guide you in detail on all about the properties for sale and rent in Dubai and make your property experience in Dubai a convenient yet beneficial one.