Things to remember before Renting a property

Written by Posted On Tuesday, 18 June 2019 07:58
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There are number of countries where you can rent your property like Dubai.Dubai is billed with endless luxury and is powered with endless opportunities. The architectural euphoria of Dubai attracts both tourists and expats, but all this glamour and glitter comes with a price. Since Dubai is a multi-cultural hub of commercial activity, the fundamental question of accommodation arrangements arises. A lucrative career comes with a cost, and Dubai is not cheap when it comes to rental properties. The vibrant city is bursting with residential properties so as a balance of supply and demand can be made. But the natural outcome of maintaining this balance reflects in the rental costs. If you are thinking of shifting to Dubai, then here are few things to remember before finalizing your future home:

Understand the rental process in Dubai: Rental property arrangments in Dubai are developing fairly rapidly. There are new properties under construction which often gets booked at an early stage by other tenants. So it is advised to stay updated with new constructions happening in the area of your choice. You can speak with the property agents and get a feel of the wavy pricing since the number of tenants is usually higher than the available rental properties which eventually affects the ongoing rental prices. You can get connected with registered real estate brokers in Dubai, in order to be sure of the property legal status since there are strict policies for expats.

Remove the middlemen: To get an idea of properties available in Dubai, and eliminate the broker engagement, you can browse through property finder Dubai. You can filter your preferred property like Villas, Two-Three bedroom flats, or a house (if budget is supportive).

Know the tenant laws and rights: Dubai is strict in its policies, and as a result, there is a registered tenant agreement to follow as well, defined specifically for expats. Keeping aside the agreement, there are a lot of benefits attached as well, for which you have to make sure that your contract is registered with the local athorities.

Landlords in Dubai cannot raise the rental value on a fine day, but in case the issue arises, then there is a 90 days notice policy implicated in the condition. But one important point to keep in mind during signing a rental agreement is the fact that the rental value can go up in order to match the ongoing rental pricing (usually according to Landlord’s will). In case of sudden rental value increase, you can connect with the local authorities as there is a 90-days notice to be followed by law.

General Rental rules to be followed:

  1. Dubai extracts a lot of monetary benefits from the property front. Unlike other countries, landlords in Dubai can ask for an annual upfront payment of rent which can cause financial instability for new tenants. If not a full annual upfront, then you might be asked for post-dated cheques which the landlords can cash out at selected rental intervals.
  2. If you select a property through property websites in Dubai, then there will be full annual upfront fee payments, but in case you direct your rental agreements through a verified broker then you the possibility of monthly rental payments can be checked.
  3. No unmarried couples can live together in Dubai. Since Dubai is a culturally reserved city, many landlords either permit married tenants or single tenants. In case they find any unusual activity, then they can report it to the local authorities who will be quick to take an action applicable by law.
  4. Usually, rental agreements are bound for one year, but in case you decide to leave early then your landlord can charge a penalty. In order to make sure that there are no later misunderstandings and consequences, it is advised to clear all negotiations before signing an agreement.

Final Words: As magnificent and glorious Dubai is on the outside, it can be legally rigid as well as challenging, that can appear to be irritating at times. The best way to steer clear of all the possible issues during your property selection and tenant agreements is to make notes of all the rules and regulations followed and imposed on expats. A proper followup with all the policies will ease your property selection/finalization plans.

 

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