An important suggestion for landlords is to invest the energy and push to screen the tenant before marking the agreement. Therefore, it is imperative to know all angles that influence you as a Landlord and additionally comprehending what sort of Tenancy Laws and general knowledge of how the rental process right now functions in Dubai.
The critical points you need to focuses, when you need to lease your property:
You need to explore the market and be reasonable in the price you need to accomplish for your Property. You have to recognize what is incorporated and avoided in the estimated price. Would you like to incorporate a maintenance contract, appliances, curtains, outside furniture? Be adaptable to accomplish your objective with the price.
Upgrade your Property – now and then by doing a bit, you can get a lot more.
Maintain your Property – a very much kept up property remains over the rest. Maintenance of the property is the owner’s responsibility and a tenant is willing to pay more for a well maintained house.
Show your Property. Be accessible and flexible. Tenants normally rent the houses they can view.
Just utilize a legitimate real estate agency & agent. Verify the real estate agency is enlisted with the Dubai Land Department and has a legitimate ORN#. Additionally, verify the agent you plan to work with has a substantial RERA number.
The real estate agency should conduct a market analysis for you.
Guarantee that the agent you contract is a specialist on the area where you plan to rent the property.
Your Agent ought to have the capacity to completely educate you on the renting process, the present laws in Dubai that straightforwardly influence you and how the Landlord and Tenant relationship functions.
As we have mentioned before, an important part in renting your property is having a competent real estate agency. A well experienced agent will not only get you the best returns on your investment but he/she will also assist in finding good, quality renters.
Always consult with your agent and consider their advice regarding a fair and competitive market price.
Make sure your property is clean, freshly painted and all the items that are needed for repair are done. This includes the exterior as well. If you have landscaping, make sure it’s properly maintained and healthy. A well maintained property is highly desirable and will attract the highest price and a lot of interest from renters.
Make your property easily accessible for viewings. Therefore, make sure your agent has a copy of the key and you might want to leave the unit open during certain times of the day i.e. from 9am to 6pm for easy access.
It is essential for a Landlord to know and understand the laws in Dubai, especially Law No. (26). of 2007, Law 33 of 2008, as well as Law 43 of 2013 and Law 26 of 2013.
A few of the most commonly reviewed points of the law within a Landlord and Tenant relationship are:
All tenancy agreements are subject to the laws of Dubai
The Landlord must keep the property in a safe condition and ensure the tenant gains benefit from the rented property unless otherwise agreed between the two parties.
To amend any terms of the tenancy agreement and/or addendums within a renewal, either party needs to give a 90 day notice in writing AND both parties need to agree on the amendment.
A Landlord may sell their property during the life of a tenancy agreement. However, the tenant has the right to occupy the property for the life of their tenancy agreement.
A landlord can serve a notice to vacate under certain, specific circumstances per Dubai Law 33 of 2008 Article (25). The notice to vacate must be one year in advance, notarized by the courts and sent via certified mail.
It is the responsibility of the landlord to handle maintenance of the property during the tenancy unless both parties agree otherwise.
If a landlord wishes to increase the rent, he can do so as long as he notifies the tenant in writing 90 days prior to tenancy expiry AND if the RERA Rental Calculator says an increase is valid.
When someone has expressed their intention to move forward with renting your property, let your agent negotiate the rental price and terms on your behalf. Your real estate agent will gather all of the documents to proceed with the tenancy contract. Mostly landlords and tenants choose to have additional terms listed within an addendum which is attached to the tenancy contract.
Also, there should be an official, standard EJARI tenancy agreement In addition to the tenancy contract.
Here are a few key things to remember when going through the paperwork:
It is very important that you have all the proper documents to proceed with a rental
On the standard Ejari tenancy agreement, make sure the security deposit amount is mentioned under additional terms
If you attach an addendum to the tenancy agreement, make sure that it is mentioned under additional terms in the standard Ejari tenancy agreement
Consider including a property management contract for your property. By law, since the landlord is responsible for the maintenance of the property during the tenancy, it is much more efficient and price effective to do so within a property management contract. You as the Landlord will have peace of mind knowing your property is being properly maintained. Should problems arise, there is someone the tenant can immediately contact who will take care of the issue.
See to it that you are up-to-date on all your payments for the property such as service charges, DEWA, Empower, etc.
Once the paperwork has been completed, both Landlord and Tenant signatures are required on two sets of documents. If there are any addendums, both signatures are needed at the end and initials on each page. Once all signatures are in place, the renter will hand over the check(s) and you or your Agent will hand over the keys.