Decide on Area and Housing Type
Start by determining the type of property you wish to rent - an apartment, villa, townhouse, or penthouse. Then, choose a location that best suits your lifestyle and needs.
Set a Budget
Establishing a budget for your dream home is crucial. Ensure you account for monthly running costs such as DEWA and other utilities. Be aware of all upfront costs associated with the move such as deposit, upfront rent, DEWA connection, removals and commissions.
Choose Your Real Estate Agent
Select a Real Estate Agent you can trust to guide you throughout the process and show you properties that align with your budget and preferences.
Prepare Necessary Documentation
You will need the following documents:
- Valid Passport and copy
- Valid UAE Visa and copy
- Valid Trade License (for company)
- Cheque book
Understand Rental Payments
The landlord requires the first cheque at the time of signing the contract, with all subsequent cheques post-dated. Ensure that payment conditions are clearly specified and agreed upon by all parties.
Be Aware of Other Payments
Tenants are required to pay a deposit of 5% of the annual rent to the landlord as a security deposit. Real Estate Agencies also charge 5% of the annual rent as their agency fee.
Once all payments are settled, a tenancy contract is drawn up detailing property specifics, payment terms, and details of the landlord and tenant.
We hope this guide helped you in your property rental journey. We're here to help in every step of the way!