Renting a home is always exciting but the process does come with its fair share of complexity. Now, whether you are shifting to Dubai for your new job or just looking to find a better home in a new community, finding an appropriate rental property requires you to do some due diligence and have the luxury of time. Even though the residential lettings in Dubai have some regulatory safeguards to protect you, it’s still important that you get the basic stuff right before you proceed. So, here are some tips worth considering for you.
1. Plan Ahead
Experts say that renting a new home can be tricky if you go out there unprepared. However, if you have planned ahead, you can make things go perfectly right from researching to viewing to negotiating and actually moving in.
So, before you meet agents and start viewing properties, you should do some brainstorming and planning. It won’t just save you time but will cut down the hassles you might have to face in the process as well. Make a list of facilities and features you’d like to have in your new home and leverage this list for finalizing appropriate homes.
2. Set Up A Budget
Obviously, everything requires a budget and you can’t go wrong here. It could be your critical component in short listing available communities and homes. Some may offer the desired facilities but may not be affordable for you. So, you should keep an eye on both, the amenities you’re looking for and the budget range affordable for you.
What’s often overlooked in budget planning is the extra costs and fees which is often involved in the process. So, you must factor these aspects into the planning process.
So, when renting in Dubai, some fees you should keep in mind include:
- 5% fee charged by the letting agents
- 5% security deposit often demanded by the landlords
- Dh2000 deposit (apartments) and Dh4000 deposit (villas) for connecting to “Dubai Electricity & Water Authority”
- 5% of annual rent to be paid in twelve installments in Dubai Municipality fee
3. Avoid Potential Scams
Make sure that you avoid potential scams and stay away from the listings not there on the reputed sites. So, make sure that you only rely on licensed agencies operating out there in the real estate market. Also, ask for the license of estate agents before handing over the money, just to be safe.
4. Location Is Important
When looking for a home, even if it’s a rental property, location and community should be paid close attention to. It’s equally important as the amenities you’re looking for inside the home you want to rent. Consider nearby restaurants and supermarkets, child and pet-friendliness, overall safety of the community, etc. Easy access to Metro or any other transportation is also important.
5. Negotiate For The Best Deal
If you’re going to interact with the Dubai’s real estate market for the first time, you might not be aware that it’s very much possible for you to negotiate on rent as well as the terms of your contract with landlord. Compare rents of the shortlisted properties with that of other homes in that area would make sure that you do not end up paying something higher that what you should.
With Dubai’s market being sluggish in last couple of quarters, strengthens you as a prospective tenant and gives you more bargaining power than before.
6. Look At The Property Inside Out
Before you finalize your rental agreement and sign the dotted line, make sure that you have a thorough inspection of the property and see if there are any issues that exist. In case of maintenance issues like neglected gardens or pest infestations, you’ll have to face lots of hassles and many unexpected bills. So, if something is wrong, better notify the landlord about it right away.
7. Read Your Contract
Finally, make sure that you thoroughly go through your tenancy contract. Make sure that it effectively protects you through the terms outlined. Going over all details will make sure that any surprises are avoided completely later on. Look for things like tenancy duration, prior notice period before vacating the property, the changes you can make to the property while renovating, etc. Also, make sure that there aren’t any special requirements outlined in the contract.
So, if you are ready to start looking for a new home in Dubai visit LuxuryProperty.com, we recommend that you keep all these tips above in mind and have your paperwork in order before time. You’re sure to get a fine accommodation with best terms possible.
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