Being a Landlord in Dubai comes with great responsibility due to the stringent laws. Therefore, it is important to know all aspects that affect you as a Landlord including what type of documentation you will need, what type of documentation is required of the Tenant, Tenancy Laws and general knowledge of how the rental process currently works in Dubai.
Here are a few tips on how to successfully own and lease a rental property in Dubai:
It is essential that a Landlord knows and understands the laws in Dubai, especially Law No. (26). of 2007 and Law 33 of 2008 which is the Law governing the relationship between the Landlord and the Tenant. There are other laws pertaining to rental property in Dubai such 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:
As we stated before, an important part to renting your property is having a competent Real Estate Company and Agent. An experienced Agent will not only get you the best return on your investment but he/she will also assist in finding good, quality renters. A few key points to remember when marketing your property are:
Once an interested party has expressed intention to move forward with renting your property, you and/or your Agent on behalf of you, will negotiate the rental price and terms. Your Real Estate Agent will gather all of the documents to proceed with the Tenancy Agreement. There is an official, standard EJARI tenancy agreement. In addition to the tenancy agreement, most parties choose to have additional terms listed within an addendum which is attached to the tenancy agreement. Here are a few key things to remember when going through the paperwork:
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