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This article is an attempt, to make you understand the importance of analysis of various possible renting risks before you sign up for a property. It will help you to at least minimise the possibility of falling foul to crooks.
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Analyse Risks and Make Smarter Investment Decisions
A dream home is something
that every person wishes to
buy some day. And, before
making the final decision to
buy it, one is sure to be
boggled by several
questions. For instance, 'Am
I investing at the right
time?' or 'Am I making the right choice?’ etc is always baffling. Also, in recent times, the
hordes of news of unscrupulous UAE businessmen who cheated hundreds of families
with properties add to the trauma and confusion. These rental scams in Dubai of course
have added to the worries and alarmed one and all. Therefore, this article is an attempt,
to make you understand the importance of analysis of various possible renting risks
before you sign up for a property. It will help you to at least minimise the possibility of
falling foul to crooks.
The first step to a successful move in is to make
use of (RERA). They are registered brokers and
you will never go wrong with them. They have
been assessed by the Dubai Land Department
and have a complete list of broker registration
numbers that can be confirmed with the
concerned authorities.
Once you get the contract check it completely. Ensure that
the details mentioned, and the clauses are all met with.
Also, make certain that the occupancy agreement has
stated the exact payments to be made, and if at all
instalment payments are to be made then what is the
process for the same. Besides, you may also want to know the length of lease, the
responsibilities of the owner, the associated charges, as well as your duties for paying
utility bills. Additionally, you could perhaps look out for parking space that is whether
you are entitled to it as part of the rent. If, in case, you have a pet, ask the landlord for a
written copy confirming that it is recognised on the premises.
Also, as per the government rules and regulations, it is a good practice to register the
contract on www.ejari.ae. This will help in protection of both the parties in case of
difference of opinions. You can even check for fraudulent activities so as to make certain
the same place has not been rented out twice.
It sure may sound like a time-consuming, and an extremely lengthy process, but then it
could help you in saving money and staying away from trouble. Being attentive of crucial
factors while renting an apartment is very important. Follow the rule of the thumb and
you’ll never be mistaken.