When you rent your apartment in Dubai regularly, you know the process perfectly, as the rules haven't been changed for a long time. However, if it is your first time, you may be little taken aback with all the steps you need to go through and legislation peculiarities.
Note: leasing an apartment as well as any other property in Dubai is strictly governed. Therefore, there could be steps you aren't familiar with if you rent out your property for the first time. In this guide, we will walk you down all steps of renting your apartment out, both mandatory and optional. We hope this will help you to get all possible benefits landlordship is able to provide and comply with Dubai rental legislation.
7 steps to rent out an apartment in Dubai
There are 7 steps you need to go through while leasing your apartment in Dubai. Here they are:
Prepare your apartment for the rent;
Get all required documents in order;
Do your due diligence;
List your apartment on advertising platforms;
Screen your applicants for the rent;
Sign a tenancy contract and register it with Ejary.
First, you need to prepare your flat for the rent. You may need to renovate its interior, replace or add some furniture. At least, you need to clean it. In other words, the more attractive, appealing, and inviting your interior is, the higher rent you can charge and the faster you can find your tenants.
Second, all documents you need for the rent shall be present and valid. We will discuss the list of required documents later in this post. Now we just want to inform you not to forget getting building owner permission for the rent/wove-in.
Third, you need to do your due diligence. To clarify, you need to study the market to understand the rent you can charge. This step is of great importance because. Of course, you are free to fix any rent in your initial tenancy agreement. However, as Dubai authority control rent increase, you may have certain difficulties in future if will decide to raise your rent. So, try to do the math now and set an appropriate price.
Advertising is your next step. There are quite a lot of advertising platforms and you can opt as many as you choose. Make good pictures and attach them to your ads. Otherwise, you will hardly get a few enquiries.
Then, when you get an application for the rant, screen your tenants carefully. You need to be sure you will not get bounced cheques, damaged property, and other habitants' complaints. So, ask their references, solvency proves, etc.
At last, when you find the right tenant, sign a tenancy contract and register it with Ejary. Note, the contract form is strictly regulated and Ejary verification is mandatory.
What do you need to rent out an apartment?
The main thing you need to rent out your apartment is its habitable state. Typically, to be habitable a flat needs to comply with the following requirements:
Have all in-apartment facilities to cover occupant's basic needs;
Provide a safe stay:
To cover occupant's basic needs, you need to maintain all plumbing, electrical, heating, and cooling facilities in running order. First, you need to check there are no leaks or blockages of the drain or water supply network. And, of course, rectify them if you discover these ones. Second, your electrical facilities should provide a stable connection to the main. In other words, your tenant needs just to activate his DEWA account to be able to enjoy all civilization benefits. Third, as hot water is essential for a comfortable stay, you need the water heater to operate properly. At last (but not at least), check the air conditioning system in your apartment and bring it back up and running in case it is out of order. In Dubai, with its hot climate, air conditioning need is one of the most important. To provide a safe stay, your electrical wiring shall be in good condition including all outlets and lightening in the apartment. In other words, keep the wiring the way to prevent any shock and fire hazards. You also need to ensure any cooking, heating and cooling appliances in your rental unit work gas or shock safe.
Documents required to rent
When it concerns the question about how you can rent your apartment, documentation issue arises. To clarify, as we stated previously, you need to prepare the list of documents local authorities will require from you to register your tenancy agreement. The main criterion of all these documents is their validity. In other words, no document shall be expired at the time you will submit it. Here is the list of required documents (as you are acting as a landlord):
Passport or Emirates ID;
Title deed;
Power of attorney (if applicable).
First of all, you must identify your personality. Therefore, your passport or Emirates ID is required. Note, in case you are non-GCC countries nationals you can provide your passport or your emirates ID. In case your tenants are nationals of Gulf Cooperation Council, you need to provide only Emirates ID.
The next document you need to provide is your Title deed. To clarify, this document proves your rights as an owner to possess and lease your apartment. However, in some cases Title deed is not available. For example, when you have recently bought this apartment from a reputable developer or didn't have enough time to get your title deed. In this case, your must-have is an Affection plan issued by the Dubai Municipality or your Sales & Purchase Agreement.
The last document you may need is a Power of attorney. However, you may need this document only in case you rent out your apartment and submit all the documents we discussed via your representative, not in person.
Yes, you may consider renting an apartment has its pitfalls, though it is not a rocket since. However, you can always make your life easy. Hire BSO, a reliable property management company, and we will find the best solution and do all hard job for you concerning rental issues.
Kommentarer