Living in Dubai, Renting a Property
Dubai, known for its rich cultural diversity and ultra-high-end lifestyle, is an amazing place to live. From tourism to the boom in industrial growth, there are many factors driving the growth of Dubai real estate. You will also notice a considerable growing supply in the property market in Dubai, with soaring demand backing this growth in supply at an incredible pace.
Dubai Rental Terms
To begin with, make sure that you only choose RERA-registered real estate agents. Then, once you find your property, complete the Ejari registration process. This ensures that the rental laws are applicable to your tenancy contract.
Selling the property or carrying out an eviction can take place only when the landlord gives the tenant a 12 months’ notice in written form.
The rental agreements in Dubai are valid for a year. At the end of the year, the landlord might choose to impose a hike in the rent. However, this hike should be within the permitted limit which is the rental index as per RERA permits. The tenancy agreement renewal also takes place on a yearly basis.
Any type of changes required in the tenancy agreement requires a 90 days’ notice period. This is in accordance with the Rental Laws in Dubai. It is also applicable to changes required from the tenants as well as the landlords.
Most of the communities in Dubai have specific move out and move in permit terms. This involves paperwork, which must be complete before you move into the finalized rental home.
For the family of the residents of Dubai, you will need an Entry Residence Visa. You can apply for the residency permit within a month after your family moves in with you.
How to find your rental property?
Once you find a credible RERA registered real estate agent, you must clearly state your favorable areas. Ask for recommendations on the best districts based on your requirements.
Make sure that you visit the property before you finalize the deal. Multiple physical inspections will also be good to identify the pros and cons of the property and the locality. Once you are clear about the traffic conditions near the house and the other details make an offer to the landlord.
The agency fees that you would be paying the real estate agent or firm would be a percentage of the annual rent. You will also be paying a security deposit as a part of the
Ejari registration process. Keep all such cost factors in mind when you evaluate the property and compare it with your budget.
Soon after the acceptance of the offer, you would be paying the desired fees to initiate the paperwork. This is where you would be receiving the rental contract. Make sure that y
ou thoroughly read and understand every point included in the contract. Get legal assistance if required.
Once you agree to the terms of the agreement, you should start the Ejari registration and the DEWA (Dubai Electricity and Water Authority) registration. If you have all your move in permits and essential documents for verification ready, then the process should take just a few days before you are all set to move in.