Renting a Property in Dubai
Renting a Property
Are you trying to find the right rental property that fits your budget, has the amenities you are looking for and in the area you desire?
With Metropolitan Premium Properties your search will be easy and hassle-free. All our agents have extensive real estate experience combined with perfect knowledge of UAE laws. We will take care of drawing up a lease agreement and will make sure you get the best possible terms.
Available for Rent
How to Successfully Own and Lease
a Rental Property in Dubai
Your Agent should conduct a market analysis for you indicating the following:
- The fair and competitive price they can successfully lease your property for;
- What the average time on the market is for your type of property;
- What the current activity is in your area – Is it a renter’s market or landlord’s market;
- What current factors are a plus or minus for you to lease your property;
- What type of lessee can you expect.
Your Agent should be able to fully guide you on the leasing process, the current laws in Dubai that directly affect you and how the Landlord and Tenant relationship works.
Сosts When Renting in Dubai
- Security deposit: 5% from annual rental value for Unfurnished properties; 10% for Furnished and it shall be dated on the same day when you are securing the property. The landlord will keep this cheque until you vacate the property and all outstanding bills including cleaning, painting, etc. are settled or deducted from the security deposit.
- Rental Value: 1-4 cheques: 1st cheque being dated on or before Tenancy contract start date, the subsequent cheques to be post dated (PDC).
- Agency Fee which is 5% + Vat (5%) of the annual rent due upon signing of the tenancy agreement
- Ejari Registration: AED 220 inclusive of VAT
- Down payments for DEWA, Air Conditioning, Gas & Telecommunications (depending on the developer/providers)
- Moving expenses (if you are relocating from another property in Dubai)
How is The Rental Process Going?
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.
Our agents will provide you with professional advice until moving. We do everything to make your move comfortable and safe.
Budget
The first thing to review is your budget. In Dubai, the standard is to pay the full year of rent in 1-4 cheques in advance, as per the mutual agreement with the Landlord.
It is also necessary to consider the additional costs that will be required during the search for a rental.
Location and Type of Property
Once you have calculated your budget, you can choose your area accordingly. You want to find an area which is convenient for you and your commuting time to work and/or school.
You can discuss your requirements with the Agent who will help you pinpoint an area and property suitable to your type, you can start your home search.
Property Search
The next step will be the search and inspection of suitable real estate options.
Our agents are well oriented in the areas, in the course of cooperation they will advise you on the advantages and disadvantages of the location, clarify important points and find the best accommodation for its price.
Booking the Property
Once the right property has been selected, the price, number of cheques, the move in date have been communicated to the Agent/Landlord you may prepare a Security Deposit cheque in the name of the Landlord, according to the Title Deed.
Tenancy Agreement
Once you have made your final decision on a property, you have to approve the rental price and terms. Your Real Estate Agent will gather all of the documents to proceed with the 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. Make sure that all terms which have been agreed upon are clearly indicated within the addendum attached to the tenancy agreement.
Inspection & Move-In
Once you have found the home you would like to rent, make sure to do a proper and thorough inspection inside and outside, preferably with your Agent and the Landlord and/or their agent/representative.
Prior to moving, make sure that you have checked with the building, neighborhood, association, etc. what the moving policy is. Some have restricted days and times for moving and some require a special permit. Your Real Estate agent should be able to assist you with gathering this information.
Once you hand over the Tenancy Agreement and cheques, you will be given the keys to your rental.
Alina Adamco
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