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Leasing in Dubai
Leasing in Dubai is relatively easy. If you wish to lease a
Residential Property, than its important that you hold a “Resident
Visa”. Or the Tenancy Contract can be drawn in the name of the local Company
Employing/Sponsoring your stay in Dubai. But if you wish to lease a
Commercial Property, than you need to have a Trade License. In the
absence of a Trade License, a Tenancy Contract can be drawn in the name of the
Local Sponsor’s (Partner) or the Company name after being issued a name approval
certificate from The Department of Economic.
Leases usually run for One Year but for a few exceptional
cases where Landlords issue a short-term lease. Every Landlord has his own rules
and regulations for his Property apart from the standard lease condition. The
Arbitrator for any dispute is The Dubai Rental Committee, a body of the Dubai
Municipality, whose decisions are final and binding.
Properties can be leased directly through the Landlord or
an Estate Agent or Estate Broker. The Estate Agent or The Estate Broker usually
charges a maximum fee of 5% of the annual rent as his/hers service charges.
All properties are provided with standard utilities. And
these are usually activated upon depositing a determined amount for each
services. More information on the Utilities can be obtained at the following
web site:
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