Category: Guide

Your guide to a fuss free property sale

From needing more space to relocating, there are many reasons why homeowners choose to sell their properties. If you’re thinking of bringing yours to the market, having all the information from the start can simplify the journey and help you prepare for any next steps. Let us guide you through.

Understanding the process

If you’ve never sold a property before, you might be wondering how long it will take. The timeline will depend on a few factors, like your Property Consultant’s strategy to exit you from the market and the speed of communication between everyone involved. The price will also determine the level of interest.

The payment plays a big part in the timeline too. If you’re a financed seller dealing with a financed buyer, the sale can take approximately 8 weeks. For a financed buyer and cash seller or vice versa, the process can take about 6 weeks – while a cash buyer and cash seller would be looking at an estimated 1-4 weeks.

Agreeing on a sales price

Advertising at a price that’s too high might not get you any enquiries, leaving the property on the market for a long time. If the price is too low, it’s not fair to you as the seller. So, what’s the magic number?

The price will always be indicated by the market, so this is best left to the experts. An experienced Property Consultant will be able to guide you and align the price to the current market conditions. They will also support you with data, expertise, and a marketing strategy to sell your property.

Looking for a more immediate valuation? Check out our free, online tool and get your property valued in minutes plus a 6-page detailed report.

Choosing the right agent

Selling your property is a big decision, and working with an agent that specialises in your area will ensure a smooth journey and the best possible outcome. They will also be the communicator between you and potential buyers, so it’s essential to feel comfortable enough to have open and honest conversations throughout the process.

It’s worth asking a few questions about the agency as well. Do they have a strong Marketing Department to give your property the exposure it needs? How’s their Customer Service? Do they provide a wide range of services and partner with relevant companies?

From mortgage services and furniture solutions to conveyancing assistance, the DSQ Real Estate team offers all the support you need in one place. Whether you’re ready to sell your property or want to ask some questions, we’d be happy to help.

Your guide to how to rent a property in Dubai

From beachfront residences to high rise towers and gated villa communities, Dubai offers plenty of rental options for every need. But before you start browsing for your new home, there are a few things you should be aware of. Here’s a quick look into the journey.

 

What you’ll need to rent a property in Dubai

Before starting, make sure you have your personal documents and budget in order.

Personal documents – To rent a property in Dubai on a long term basis (typically an annual contract) you’ll need your passport, residency visa, and Emirates ID. If you are not a UAE resident and/or you want a more flexible lease you can choose a short term rental or holiday home – you won’t require residency in this case.

Budget – How much can you spend on the property? Keep in mind you’ll need to provide a security deposit – it’s usually 5% of your annual rent for unfurnished properties or 10% if the home is furnished, but it may vary depending on the agency. The deposit will be refunded to you at the end of your tenancy. If you choose to work with an agency, there will also be an agency fee which is typically 5% of the rental value.

When, where and what to rent

We recommend starting your property search one to two months before moving in. Listings tend to go really fast, so try not to search too far in advance.

Already in this timeframe? Then it’s time to think about the area and property type you’re looking for. Dubai has over 200 residential communities – our area guides can give you a nice overview. Once you’ve chosen the potential locations, you can identify the Property Consultants specialising in those areas – they will be able to guide you through the available options and whether the area really suits your needs.

As for the property type, it’ll come down to your budget and requirements. You can choose between apartments, villas, townhouses and penthouses with different amenities – and your Property Consultant will guide you through the best options based on what you’re looking for. When you’ve found the perfect home, it’s time to make an offer. Usually, this will involve negotiating key terms with the landlord, such as: rental price, number of cheques, contract start date, and deposit amount. If applicable, you should also discuss other conditions such as decoration preferences, pet policies, or furnishing arrangements.

Regulations and additional costs

Once both parties agree on the terms, you can sign the tenancy contract. This document formalises the agreement, outlining the rights and responsibilities of both the tenant and landlord. Dubai’s property rental market is regulated by the Real Estate Regulatory Agency (RERA). As a tenant, you can expect to be protected by multiple laws – like Law No. 26 which states that tenants must be given 12 months’ notice if the landlord wants to evict them from the property.

In Dubai, the tenant typically pays for the agency fee (can be 5% of the annual rent or a fixed rate in some agencies), so keep that in mind when planning your budget. You also need to provide a security deposit which will be refunded at the end of your tenancy, it’s generally 5% of the annual rent or 10% if the home is furnished – but some agencies have a fixed rate.

Becoming a landlord in Dubai

You want to rent your property – what’s next? Before you start looking for a tenant, here are a few points to consider.

Dubai is a prime market for real estate investment, and becoming a landlord comes with many advantages, including strong rental yields and tax-free income. However, there are specific rules and laws that govern the relationship between landlords and tenants in Dubai. Make sure you’re familiar with Dubai Landlord and Tenant Law to avoid any legal complications, and work with a professional agency like DSQ Real Estate to help you navigate the process smoothly.

Short term or long term?

Let’s start with the most common question. As a Dubai landlord, you can choose to rent your home for the long term (typically annual contracts) or as a short term/holiday home (a few days, weeks, or months).

To find the best fit, you’ll have to consider a few things including the type and location of your property, the terms of each approach, and the time involved.

Whether you’re considering short-term or long-term rentals, our consultants can provide insights into market demand and guide you toward the option that maximizes your returns. In high-traffic areas like Dubai Marina and Downtown Dubai, short-term rentals can be lucrative, but long-term rentals offer stability and minimal turnover. We’ll help you make the right decision for your property.

What is the process?

The timeline will go hand in hand with factors like location, stock availability, demand, and price. If your property is in a tourist area like Dubai Marina or Downtown Dubai, short term may provide great returns and the flexibility to still use your property in between tenants. If you’re unlikely to use your property and want a longer solution, long term leasing might be a better fit for you.

The next step is to connect with a professional agency that can help you market your property on different channels, distribute the listing to an expansive network, and assess the potential tenants on your behalf.

As for the rental price, it’ll always come down to the market. You can review the property portals to get an idea of the rental prices in your area – just remember that the advertising price may be different from what the property ended up being rented for.

Your Property Consultant should be able to help set a fair price based on the current data, market rates, level of demand, conditions, and amenities.

Understanding your legal landlord rights in Dubai

As a landlord in Dubai, it’s important to understand the rights and responsibilities laid out in Dubai Landlord and Tenant Law. Knowing your legal standing allows you to protect your investment while ensuring a smooth relationship with tenants. Here’s a breakdown of key legal aspects you should know:

Eviction Rights: As a landlord, you can evict a tenant for non-payment, personal use, or major property changes. However, these actions must follow specific legal processes through the Rental Dispute Settlement Centre (RDC).

Notice for Rent Increases: To legally raise rent, landlords must notify tenants 90 days in advance of contract renewal. This increase is regulated by RERA and the Dubai Rental Index to ensure fairness.

Maintenance Obligations: Major maintenance work is the responsibility of the landlord, while minor repairs can be assigned to the tenant. Clear communication about maintenance responsibilities helps void future disputes.

Choosing the right agent

Becoming a landlord in Dubai offers great opportunities – but it can also turn into a real-life nightmare if you get the wrong tenant or don’t have professional support.

You might need help advertising your property, or other services like furnishing solutions and home maintenance. It’s easier to go with an experienced agency with a wide range of services and partnerships – that way you’ll have everything you need in one place.

Take your time to contact a few agencies and go with the one you feel most comfortable with. The agency commission fee is typically covered by the tenant in Dubai, but make sure you confirm with your Property Consultant as this may vary in some cases.

A vibrant sector

From offices and retail units to full buildings and plots of land, Dubai has a great variety of commercial spaces in key areas – including Downtown Dubai, Dubai International Financial Centre (DIFC), Business Bay, Jumeirah Lake Towers (JLT), and Sheikh Zayed Road. Not sure what to expect? Here’s some key information about the market.

What you need to know

Dubai’s commercial property market is divided into two main zones – Free Zone and Mainland. Free Zone properties allow for 100% foreign ownership and customs and tax exemptions. Mainland areas are mainly popular with private organisations, with the ability to trade anywhere without restrictions.

The area you choose will depend on your type of company, goals, and budget. It helps to have a professional team of Commercial Consultants by your side during the process to ensure you’re making informed decisions and understanding every term.

Buying the perfect space

Buying a commercial property is not the same as buying a home – you’ll need company documentation, set up fees, and licences depending on the zone that you choose. If you’re looking for a cost effective option, we recommend buying in a Free Zone. Businesses in these areas may also get government support in applying for visas, opening corporate accounts, banking advisory, and more.

The licence types in Free Zones include professional, commercial, industrial, and tourism. Your Consultant should be able to guide you depending on your business profile and goals.

Leasing a commercial property

If you’re looking to start or expand your business in Dubai, renting a commercial space can be a good option. Each industry (retail, offices, or warehouses, etc) has a different approach, so the documentation needed will depend on what you’re looking for.

You might also need licences to operate legally. The process will vary depending on whether the property is in the Free Zone or Mainland. Some Free Zone licences can be obtained within a day while some others take 2 to 8 months – while Mainland licences can take anywhere between three working days and one month depending on the landlord.