Landlord Guide
Landlord Guide
All landlords in Dubai agree that securing the right tenant at a rental amount appropriate for both the property and the community is vital. Also, if you agree to a tenant who doesn’t look after your property, it can prove to be a costly and stressful experience.
We can help, whether you want to list short-term or long-term properties of any type, from apartment to villas.
Step 1: Get a Valuation
Contact a local property expert to understand how much could your property rent for.
Step 2: Hire a Reliable Broker
A knowledgeable broker is essential when it comes to getting your property listed and finding the right tenants for you. Look for a brokerage with a solid reputation and a track record of marketing similar properties.
Step 3: Sign a RERA form
You will need to give your broker permission to get your property listed and marketed. To enable your broker, you must sign a RERA listing form as the registered owner. For your broker to finish their thorough research, you will also need to provide a copy of your title deed and identification.
Step 4: Prepare your property for rent
A well-presented property will always lease faster and for a better price, so be sure it is freshly painted and cleaned. Have your listing agent address all potential maintenance issues in advance. Just as landlords want good tenants, all tenants want a good landlord.
Step 5: Attend Viewings and Consider Every Offer
Once your property is listed, stay in touch with your broker for timely updates and try to attend the viewings so you can engage directly with any potential tenants.
Your broker should connect with you regularly to feedback how any viewings and the general tenant search are going.
Step 6: Sign a Tenancy Agreement
Once you have decided and accepted to let your property to a tenant, your broker will then prepare a lease agreement and write to all parties to confirm the agreed price and help with a rental agreement that is certified with RERA to protect all parties in an open and transparent way.
You will be required by law to register your lease agreements with Ejari, a system designed to regulate and facilitate the rental market of Dubai. Your contract will be kept on file for the duration of the tenancy, where it cannot be altered.
Step 7: Property Management
Once your property is rented, we strongly recommend that you consider professional property management, especially if you own multiple properties or are a remote landlord. You can grant them a power of attorney to deal with payment collections and renewals, plus they will manage the property-and tenants-on your behalf
Payments and Charges
At the beginning, you will be given a security deposit from a tenant to secure the property, this is typically 10% of the annual rent. This is only payable to you when a tenancy contract is signed, or if a tenant backs out of a deal once a reservation form has been signed by them. Instead of paying monthly for the rent, payments are typically given in one, two, three or four cheques spread throughout the year. For example, these are often provided to yourself at the beginning of the contract, with one of the cheques being current and three being postdated. The reason we advise landlords to take cheques is they act as a form of security if the tenant breaks the contract. In order to protect a tenant, the broker should supply a copy of the cheques. This way the tenant has physical proof of rental payments should a dispute arise.
Payments for services such as DEWA and Air conditioning are made in the name of the tenants, and a paid full and final bill should be issued to your agent at the vacating of the tenants. This is used when the new tenants move in to your property and a new account, in their name, is opened. As a landlord you will also need to be registered with the service providers and a security deposit is payable from yourself. This amount is held in your name and used should a tenant abscond or leave the property without paying any outstanding amounts. This deposit is returnable to yourself from the service provider should you sell or dispose of your property to another owner. In all case the maintenance fees for the property also has to be up to date and a paid account supplied before a tenant should move in. This is because access to car parks and beaches along with pools and gyms are subject to the use of active access cards. These will not be activated if maintenance fees remain outstanding.
On a tenant vacating, all possible outstanding maintenance issues and service bills from the said tenant are to be paid in payable, and a cleared paid account must be supplied. Should any accounts still remain outstanding after the tenant vacates, you will still hold the security deposit which was given to you at the time of reserving the property, or on the signing of a tenancy contract. In this case the deposit can be used to clear off any outstanding matters.
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