The Most common question in the mind of a landlord can be “How to Rent Out Your Property in Dubai”

Don’t worry, in this article we are going to make the process easy and guide you in the best possible way.

If you are renting out your property for the first time in Dubai, then it can be quite a hassle. As it involves a series of processes and many laws that the landlord is required to abide by.

Here are the 5 simple steps:

Choose an agency that specializes in Property Management

In Dubai, there are several property management agencies that have experience in the local market to sell or rent out property. If you want to avoid dealing with the hassle of finding tenants then these agencies will not just manage and rent your property, but also deal with finding the right tenants.

What do you get in return? A fixed amount of income from your investment every month.

Following are some of the tasks that the agency can perform to take off the burden from the landlord:

● Strategically plan to fill up your property whenever it is vacant with marketing.
● Research on the market trends to devise a rent pricing strategy.
● Keep you updated with all the new legal and financial obligations.
● Introduce new services to good tenants to boost retention rate and reduce vacancies.
● Help you through the leasing process.
● Conduct the background checks to obtain any references of the tenant.

Gather the documents for the Listing Process

As a property owner, you need to take care of the required documents (which are quite a lot) while renting out a property. For example, to rent out your property in Dubai, you are required to have a permit that allows the property to be advertised by a real estate or property management company registered with RERA.

Don’t have the permit? Don’t worry!

Following are some documents that need to be submitted to the Dubai Land Department (DLD) to get the permit.

● The title deed
● Passport Copy (s) of the owner(s)
● Signed listing agreement

Make the property camera-ready
The first impression is the last and you never get a second chance to make it everlasting. If you want to attract the right tenants, the more your property looks attractive the more applications you get. For this, you need to present your property in the best possible way.

Sign the Tenancy Contract

As soon as you get a tenant, a Tenancy Contract needs to be signed by the landlord as well as the tenant before the handing over process of the property. Whether you choose a company to handle these legal documents or do it yourself, it should use a RERA Unified Tenancy Contract and standardized lease addendum outlining the rights and responsibilities of both parties.

What’s next?

You would need to submit the signed contract for an Ejari certificate and legally register with the Government of Dubai.

Collect the payment
There are two ways to receive the payment after signing the Tenancy Contract.
● The tenant is either asked to make the payment in full at the time of signing the contract
● Or provide the initial payment along with post-dated cheques.
Regardless, these payment methods should always be secure and recorded for the future if need be.

The Handover Process

During the process of handing over the property to the tenant, the following are some points that need to be ensured:

● The required documents are in order,
● The contacts for the utilities are in place,
● A key and card inventory are prepared, signed, and collected.

Only then the tenant can move into the property.

All in all
If you want to rent your property for the long or short term, then Luxury Explorers Collection is the best option. Proper advice on the market value of your property, they prepare all the documentation required for the sale. Just relax and let us rent your property hassle-free!