What You Need To Know To Get Started
The Dubai real estate market is an international market that is always in demand in terms of return on investment. Properties are registered under the Dubai Land Department, the legal authority whose real estate regulations help secure your local investments.
A mortgage manager is responsible for arranging the funds for a loan through each phase of its existence. Cash management is the process of collecting and managing cash flowers, important for both individuals and companies, to obtain the best return on cash assets. Your property manager will assist you with this and arrange a mortgage on your property to add a new portfolio that will increase profit and cash flow. The financial instalments will be taken care of from the rental income, and cash management reports will be shared.
Your specific requirements are always at the heart of everything we do when choosing which property to show you and assisting you with all the important decisions. We are partnered with Mortgage International and will advise you and guide you every step of the way to make sure you get the most suitable mortgage model.
The owner is required to provide s valid passport copy, title deed or a sales and purchase agreement. From the tenant, a valid passport, visa and Emirates ID are required, along with the needed payments at the time of making the tenancy agreement between both the parties.
A security deposit is a refundable amount charged to the tenant at the time of making a contract. It is needed to protect the owner and make sure that at the time of a property handover from the tenant, everything is left in good working condition.
A tenancy agreement is a written document outlining the Terms & Conditions mutually agreed upon between the tenant and the landlord of the said unit for a particular period. The agreement shows the rental value, terms, number of payments and security deposit, and other important details.
We use targeted advertisements and marketing in relevant property portals to reach the target audience, and further narrow them down through viewing arrangements, rent negotiations, document verifications and further relevant vetting before finalizing a leasing contract.
Minimum 3 and maximum 15 days.
Original title deed, original passports of both the buyer and seller, original & valid NOC from the developer. If a mortgage is involved then a bank executive will arrange a meeting at the trustee’s office or the Dubai Land Department to go through the relevant payments.
RERA announced current market value of the property could be a little more or less than the actual figure. The actual price of the property is based on the performance of the market and depends on the flow of income through their rentals, location, community, services, available facilities etc. which can be ascertained based on current deals executed by our certified agents in the market.
Brokerage in a business that, within real estate, can mean a single or a collective dealing with buyers and sellers, and taking commissions on deals executed. Brokers assist buyers and sellers with their decisions regarding buying, selling, renting and leasing their properties based on the market performance. Advisory serves mainly to provide advice, but will not take actions to enforce it.
The Real Estate Regulatory Agency (RERA) is a part of the Dubai Land Department (Real Estate Regulation Authorities in Dubai.) RERA helps Real Estate in Dubai to set policies and plan for local and foreign investment in Dubai.
The Dubai Land Department identified the need for a proper regulatory system to regulate the whole process of asset selling, buying and leasing. Under the Real Estate Regulation & Development Act (RERA), real estate agents need to register themselves to be able to facilitate transactions. RERA-certified real estate brokers assure that they are in line with the Dubai real estate rules & regulations and are providing the correct information to their investors and clients.
A No Objection Certificate (NOC) is a document that needs to be obtained by the developer of a unit in question, in presence of the buyer and seller in the secondary market of real estate.
The seller should have a title deed and clearance certificate from the developer, the latest or any utility bills, original passport and Emirates ID. The buyer should provide an original passport and deposit a cheque if required to proceed with the NOC. If the buyer has a mortgage, they will need an original offer letter from their bank to apply for the NOC from any developer.
The seller should pay the NOC fees to the developers and use them to apply for the NOC.
The seller needs to clear all his dues and fix an appointment with the developers, who will then arrange a meeting with the buyer and proceed with issuing a NOC.
Dubai Land Department (DLD) was founded in 1960 by HH Sheikh Rashid bin Saeed Al Maktoum to establish the most prominent real estate sector at regional and international levels. DLD provides outstanding services to all its customers and develops the necessary legislation to propel the real estate sector in Dubai by organising and promoting real estate investment and spreading industry knowledge.
Buying a freehold property means you are the sole owner of the property. The owner of such estate enjoys free ownership for perpetuity and can use the land for any purpose under the local regulations.
Leasehold properties mean you are buying a property on a temporary lease contract. The land remains owned by the landlord, who’s also known as the ‘freeholder’. Ownership of the property will revert to them once the lease runs out.
No, buyers and sellers have an option to perform buying and selling with the help of legal power of attorney holders. POA holders can buy and sell properties based in the UAE according to their rights.
Among other services, we analyze the best price according to the current market and start advertising your properties in our property portal to get prospective clients interested in buying as per your expected price.
The commercial real estate buyer will need their original passport as per the developer’s process before transfers are made in the Dubai Land Department.
The buyer will have to submit their original passport with the attested visa page to proceed with the Dubai Land Department process, after obtaining a NOC from the developer.
Our diverse group of property consultants come from all over the globe, to best meet the cultural and language requirements of our customers. They are also all vigorously trained and are continuously honing their skills, providing our customers with tailored service and up-to-date, relevant information.
As per RERA renewals, a notice should be sent 90 days before the expiry date of the tenancy agreement and the landlord should inform the tenant if any changes need to be done in next year’s contract, provided the tenant is willing to renew the same. Renewal rent should be as per the RERA index calculator, sent in writing to the tenant through a registered email 90 days before the last date of the contract. If the landlord fails to send a renewal notice 90 days before the expiry of the contract, then the tenant has the right to renew the contract as per the same terms and conditions and on the same rent without any increase.
DEWA registration is an online process that requires a filled-out and signed application form (www.dewa.gov.ae), a passport copy with the valid visa page (both tenant and owner), a copy of the signed tenancy contract, and a copy of proof of ownership document or the title deed. It normally takes 24 hours for activation, provided all previous dues are clear. Security deposit and connection charges should be paid at the time of registration.
As per law, there is a penalty in case of a cheque bouncing due to insufficient funds. The tenant should arrange the pending rent along with the penalty in 15 working days after the cheque has bounced, otherwise, the Property Manager will proceed with registering a police complaint. During this course, the tenant can’t travel out of Dubai or he will be detained by the Dubai Airport Authority and placed in jail while legal actions are taken against him.
To evict a tenant you need to have a valid reason for eviction in line with Article 25 of Law No. (26) of 2007. Issue a written 30-day eviction notice to the tenant via registered mail or public notary.
Ejari is the mandatory registration of the tenancy agreement. Initiated by the Real Estate Regulatory Agency (RERA), the regulatory arm of the Dubai Land Department, Ejari came into being to make the rental market in Dubai one of the most transparent markets in the world.
To register Ejari, you need to present a title deed, the owner’s passport copy, management form signed by the landlord, signed tenancy agreement, tenant’s passport copy, visa page and Emirates ID, and DEWA premises number or DEWA registration receipt. You will also have to pay the Ejari registration fee.
DEWA and chiller registration should specify whether the person responsible for payments is the landlord or tenant.
After signing the documents, completing the Ejari and utility registrations, and doing the required inspections and maintenance, the tenant will receive the key and access card, thereby acknowledging they’re receiving the apartment in good working conditions.
Many units have AC connections that are not included in DEWA. In those cases, a separate registration needs to be done to get access to the chiller. This usually implies an outsourced management company on behalf of the developers, who manage their AC charges and connectivity.
The administrational management system on residential and commercial properties performs activities on behalf of the owners with their prior approval and legal assistance, under the local regulations and documentation. This includes leasing, rent collection, property maintenance and repairs, renewals, property handover and asset management.
