Procedures for Rental

Skip Navigation LinksHome > Leasing Property with Us > Procedures for Rental
  

Renting a property in Dubai can become challenging and tricky if you are unaware of the laws and procedures.

Multiple steps are involved in the rental process and one needs to be knowledgeable about location, prices, amenities and other related costs. Allow our team of experts to guide you through the entire process and help make your experience a hassle free one. Unless one has knowledge of leasing practices, localities and amenities associated with a property there is a potential to over pay. W2 Realty has the relevant experience and knowledge and can guide you in getting the most suitable property based on your needs.

We help you evaluate the multiple types of properties available, from villas, apartments or serviced residences. A rental contract requires the following documents and cheques:

·         Copy of tenant’s passport

·         Copy of tenant’s residency visa.

·         Signed tenancy contract by both tenant and landlord

·         Completion Form of Property or Contract Page

·         The agreed rental cheque/cheques

·         Real Estate agent fees  

·         Security Deposit to Landlord

Generally 5% of the annual rent is held by the landlord as deposit. This is returned at the end of the lease term provided the property is in a similar condition as it was at the start of the lease term.

Rental amounts can be either paid in advance for the whole year or in 12 installments in the form of post dated cheques. The Dubai Electricity and Water Authority (DEWA) also requires a deposit of AED 1,000 for apartments and AED 2,000 for villas to establish the utility connections. Additionally, DEWA has a housing fee which is equivalent to 5% of the annual rent. This is paid monthly and is part of your DEWA Bill.

Rental Laws

With the massive influx of people, rents in Dubai were climbing at exponential rates. New tenants coming into the market were faced with exorbitant rates. In order to protect new and existing residents, a law was passed capping rental increase to a maximum of 5% per annum.

Most recently, The Dubai Land Department, The Real Estate Regulatory Authority and the Rent Committee have implemented the new rent cap. Tenants who feel landlords are violating the rent cap law can approach the Rent Committee. Disputes arising on the rental increase are referred to the Municipality's Rent Control Committee. It can take anywhere from a few weeks to 2 months before both parties are called before the Committee. If the decision is in favor of the tenant, filing fees are paid by the landlord.

Dubai's Real Estate Regulatory Authority (RERA) is expected to introduce by-laws on the tenant-landlord relationship to help guide both landlords and tenants on the responsibilities of either party as well as provides a rental index on the different areas that will further help bring equilibrium in the rental market.



 
Business Central Towers | Office 2001 Tower B | Sheikh Zayed Road | Dubai | United Arab Emirates
PO Box: 52937 | Telephone: +971 4 428 1454 | Fax: +971 4 428 1453
Developed @ Intelligenes