Dubai is one of the best city which grabs the eyeballs of the people around the globe for visiting as well as for relocating. At times, people find it quite difficult to find the rental home and house, as per their preference when they headed towards the new city to live in.
So, are you looking forward to shift to Dubai, it is a beautiful city of UAE? Your next step will be to search for the best home for rent, which is the major task. Well, in Dubai, you are required to pay the rent in much advance before you actually come down to live in Dubai. It might make a dent in your pocket, so you have to plan carefully while placing to relocate in Dubai.
On today’s date, there are ample of options to choose the property to live on rent in Dubai. It all depends upon the class architecture, the profession which is in demand to the core. There are wonderful tips to crack architect jobs in Dubai real estate. The beautiful architecture also helps the people to select the property to live on rent.
So, now you might be pondering over the factors which you must consider before renting in the marvelous city, Dubai. Here we provide you the key factors which you must know well in advance before renting in Dubai.
7 Factors to Know Before Renting in Dubai:
There might be various reasons for which you might be looking forward to search an apt house for rent in Dubai. You might have recently come to Dubai and got the best job in Dubai, and you might be looking forward to find the home for rent in Dubai. And there might also be other different reasons.
Here is the list of the factors to be considered before renting in Dubai:
1 Factor of complete rental costs:
So, you might have just now searched the house for rent. The next part is the paperwork that you have to come across. There are various processes involved in the paperwork while renting a home in Dubai. There are different types of fee’s which the tenant is required to pay.
Well, if you are looking forward to make investment in Dubai real estate, then 2017: the apt time to make an investment in Dubai real estate.
- Commission of the Agent:
Generally, many of the landlords in UAE appoints a certain kind of agency who controls everything about their properties. These agents charge some percentage of rent just as their fee. In the city like Dubai, typically five percent of the agreed annual rent is to be paid out as the brokerage fee.
- Advance Amount as the Security Deposit:
You are also required to spend some percentage the annual rent as the security money to your landlord. The landlord will be using that money to re-establish the property when there are some kinds of damages are made by you at your period of stay. If in case, no such damages are being occurred by you, then that amount will be paid to you back when the lease period will get over.
- Ejari Registration:
It is very compulsory that you are required to register the tenancy contracts of Dubai with the Real Estate Regulatory Agency (RERA) by the way of Ejari system. Both the tenants and the landlords are equally and jointly responsible for this. It is the ordinary practice in Dubai that tenants will incur these costs, this includes AED 160 which is government fee and also AED 35 as the typing service charge. You need to be sure that it is compulsory to pay the processing fee or the premium if you are opting for the third-party agency.
- DEWA Connection:
While opting for moving to the new place, you will be required to get a new account in your name with DEWA (Dubai Electricity and Water Authority). This will include a deposit which is refundable, the deposit of around AED 2000 which is for the apartments, and for the villas it is AED 4000.
- Housing Fee:
Apart from the composition expense, you will also have to bear housing fee by DEWA. This particular cost is fixed as the 5% of your annual rent, which you are required to pay in installments in 12 months as part of your monthly DEWA bill.
- Gas Connection Cost:
You will be required or have the new gas connection if you are moving to the new place, which is for sure. The security amount related to the gas connection will be as per the company which provides you the gas services to the place you live.
- Etisalat/Du Cost:
There will also be the expenses for internet, TV, landline services, which is also compulsory for you to bear with either of the 2 providers, Etisalat or Du. The monthly expense is levied as per the package you opt for, also depends on the internet speed, type of the router, etc. You need to be aware of the fact that you will also have to pay the security charge and also the installation charge.
- Other kinds of maintenance costs:
You need to figure out the person who bears the charges of maintenance of the property, you, the landlord or both in sharing. In certain cases, the cost of cooling and the AC charges will be transferred from the landlord to the tenant.
Well, if you desire to purchase the house property, there are 8 factors to be considered before purchasing real estate property in Dubai.
2 Location Factor to be Considered:
This is yet another factor to be considered, when you are looking forward to relocate to Dubai When you are planning to get a good house on rent, then you will have to look certain kinds of facilities near the house. You will have to check in the grocery store and the pharmacies located near your house. You must also not miss the other features like road accessibility and the free parking. There are other different features which you must check out while looking for the best location in Dubai. Metro connectivity, the house must be near your workplace and kids’ schools. Other extended feature to look out is that if you have any pets, then you must know if they are allowed to keep at your premises.
3 Cost is the Major Factor:
The costing is always the main factor to be considered. The normal rule is that you must not spend above 30% of your income as the rent. Before opting for the rented property, you need to be sure that you will be able to afford the rent and the relevant costs. When you check out the options, there are other different costs which you are required to pay, for instance, the commission of the agent, maintenance fees or the deposit. You will have to compromise on a small apartment in the appropriate location or wonderful apartment on the outer area of the city. Many of the landlords opt for the single-cheque rent payment, with other common options like 2 or the 4 cheques. You also have the better option to negotiate the payment frequency with the landlord.
4 Furnishing is Also a Factor:
While finding the best apartment, you must have to look at the features which matters more, like hardwood floors, big windows, open spaces etc. You must decide the essential feature on which you can make compromises on. If you are looking forward to shift in the fully furnished apartment, you need to check for the furnitures and fixtures for any kind of damages. You must also check out for the electrical appliances, bathroom fittings, air conditioners are the other factors.
5 Visa factor:
All the expatriates are required to have the valid residence visa before they sign the lease contract. But if the application of the visa is under process, a letter will also do thereby mentioning the employment company. The essential requirements of the tenancy applications are the copies of your passport, ID of Emirate and the cheques for the rent payment. There is no such need for submitting your salary certificate in the tenancy application as clarified by RERA senior manager Mohammad Khalifa Bin Hammad in an interview with the news source.
6 If you Hunt Property Online:
The world is getting tech-savvy and internet-savvy these days. People have the best option to look out for anything online by just a few clicks away. You can know about the prevalence rents in various localities. You can search about the different real estate properties, real estate properties which offer the rent, as per your budget.On the leading classified website of UAE. On this platform, you can find various properties of your choice. By finding the properties online, it will help you save lots of time and money.
On this leading business listing website, you can also list your property business and thereby grow your property business and generate higher revenues and generate more sales leads.
7 Real Estate Agents as The Factor:
While coming down in favour of the rental property through property brokerage, you need to enable that the agent which you are dealing with, must be registered with RERA (Real Estate Regulatory Agerncy). You must opt for the best agent who do not hesitate to show his/her broker ID card before any kind of the property transaction you carry out.
So, the above listed factors are important to be considered before you look forward to rent a house in Dubai. In today’s date, many people are unaware of their rights as the tenant. There are various rental laws to be considered before you opt for the rental property in Dubai.
You might also be looking forward to purchase a new property in Dubai. There are different taxes which must be considered for buying the property for rent or for purchasing the property. You must know how to get a discount on property taxes, which will not make a Rent in your pocket.
If you own the lavish real estate property and looking forward to sell out and get a new one, then there are different ways to know how to sell real estate property fast without any hassle.