Landlord's Guide
Leasing your home in Dubai is a great way to generate extra income while maintaining the ownership of the property. Here are the things to consider before you do:
Get A Valuation
Contact a trusted agent to obtain a marketing valuation or comparative market analysis (CMA) for your property.
Hire A Property Manager
Consider hiring a property manager through your agent to prepare and present your property in its best condition to stand out and attract the right tenants. This is particularly beneficial if you own multiple properties or manage your investment remotely. A property manager can also help you deal with any maintenance issues, handle payment collections, and renew your property on your behalf so you can have complete peace of mind.
Hire A Reliable Broker
Find a broker with a good reputation and one that you can count on to look after your best interests and give your property the best exposure in the market.
Sign An Electronic RERA Form
As the registered owner, you will need to sign an electronic RERA listing form to give your broker permission to list and market your property. You will also need to provide a copy of the title deeds and your ID so that your broker can complete their due diligence.
Attend Viewings And Consider Every Offer
Once your property is listed, stay in touch with your agent for timely updates.
Consider every offer that comes your way and be prepared to negotiate. On the other hand, don’t discard any offers until you know how popular your property is on the market.
Draw Up The Tenancy Agreement
Your agent will help prepare the tenancy agreement with your tenants and draw up the final contracts. 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.