The property search is over. You have now decided which property to go for. Next step? Get yourself ready with what documents you need to provide and to receive when renting a property in Dubai with the help of this checklist.
• Passport copy with signature page
• UAE residence visa or letter from employer/sponsor that visa is under process
• UAE bank account and cheque book
For the company:
• Trade License
• Passport copy with signature page of the signatory
• Proof that signatory is authorized to sign on behalf of the company (i.e. Board Resolution or POA)
• Passport copy with signature + UAE residence visa of occupant
• Title Deed (if not available, Oqood and/or Affection Plan)
• Passport copy with signature page of all listed in the Title Deed
• Trade License and passport of autorized signatory (if under company name)
• Proof of ownership
It is important that these documents are all valid and in hand before making any payment. This is to ensure that no issue will occur later on. For example, if Title Deed or Oqood is not available then it may be possible that tenancy contract will not be registered in Ejari. The Ejari registration is a must if you need to sponsor family member(s) and/or a housemaid.
FEES TO BE PAID BY TENANT
• Security Deposit – 5% if unfurnished/semi-furnished, 10% if fully-furnished
◦ To be refunded by the landlord upon move out of the tenant in the property
• Rent Amount
◦ Terms of Payment can be negotiated with the landlord (i.e. 2 or 4 cheques)
◦ Agency fee – 5% of the total rent amount payable to the real estate agency representing the landlord
When you move to Dubai the first thing on your mind is probably to secure some accommodation. However, for many new arrivals to these sandy shores the rental market in Dubai can be quite bewildering. After all there are not too many countries that demand up to a years rental up front or think that it is OK to offer you a garden with all dead plants let alone the fact that it is the tenant that pays the agent unlike most countries where it is the landlord!
To help you through this minefield Expat Echo with the help of Move One Relocations and 1Step Properties have put together some useful tips. Read more
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Dubai’s property market is likely to bounce back from a slowdown in the first half of this year, thanks to the increasing size of the market and the emirate’s significance as a business and leisure hub. In the first half of 2015 the UAE market reported that though the slowdown continues, it will only be some time before things turn around and head upwards. Read more
Are you thinking of moving within Dubai? A survey has been done and shows more people are moving out of town and into the suburbs
The results of an online survey of 200 Dubai residents conducted by Movesouq.com, a comparison site for home services: 82 per cent experienced an increase in rents when they last renewed their rental contracts, even though we are told rents seem to be stabilizing. Read more
There was only one community in Dubai that saw rents declining in 2014 compared with 2013, a new report by Asteco reveals.
The report disclosed that Discovery Gardens, one of the most affordable communities on Sheikh Zayed Road, saw rents falling by 2 per cent last year compared to 2013, but rents remaining 36 per cent below the highs of 2008.
Rentals for one-bedroom units in the community remained stable at Dh70,000 per annum (pa), while two-bedroom units declined to Dh80,000 pa from Dh83,000 pa.
Rental increases Read more