Renting property in Dubai is not as simple as it might be in some other parts of the world; as the proper procedure and legal method makes it highly secure as well as a little complicated. Thus, the landlord is supposed to be fully updated before moving on to the process.
If you are planning to rent your property in Dubai, this is exactly what you should know:
Choosing an agency
Choose an agency to assist you in the renting-out process. Be very selective, as the future dealings and processes would depend on this decision. Here, you are required to make sure that the agency is registered with Real Estate Regulatory Agency (RERA).
Listing process in Dubai
This step involves all the documentation required rent your property in Dubai. The most essential documents, which must be produced by the landlord, include:
* The title deed
* Passport Copy (s) of the owner(s)
* Signed listing agreement
All these documents must be submitted to Dubai Land Department (DLD).
Devising Marketing Strategy
Here comes the first practical step- devising the marketing strategy. This also includes calculating the ideal achievable price of the property, by highlighting all the Unique Selling Points (USPs) and making the property look desirable.
Arrange Good Viewing
When the viewing is arranged, ensure that the property is in best possible condition. The real estate would assist you with a better viewing, and thus getting best possible price.
The most acceptable offer should be thoroughly reviewed before taking the final decision.
Once the decision has been made, the contract should be signed by the landlord as well as tenant. This contract is a legal binding on the landlord, and after signing, should be submitted for the Ejari certificate and legally registered with the Government of Dubai.
The payments should be received in full, at the time of contract signing. Another option is to collect advance payment, combined with post-dated cheques.
Handing over procedure
Moving on to the last step- run a final check to ensure that all the documents and the utility contracts are in place, and that key and card inventory is prepared, signed and collected. Once all these matters are sorted, the tenants are free to move in.