Top 20 things you need to know about the UAE Lease Market for Managed Contract and Document Review Services

  1. The real estate, housing system and the aspects of lease management may be words and terms you hear in every country.Nonetheless, when it comes to, United Arab Emirates these terms take a higher relevance and work systematically through out the UAE government.
  2. UAE housing, leasing, rent, land investments are first categorized based on the #3 main geographical divisions:
    • Dubai
    • Sharjah
    • Abu Dhabi
  3. The Dubai leasing and renting by landlords to tenants works through the portal of the RERA Ejari system.
  4. RERA Ejari System is the one-point access and online streamlining of all of Dubai’s rental and lease agreements.
  5. Ejari enables respective authorities to get accurate aspects of the real estate market in Dubai.
  6. It also further helps in planning the future of the real estate sector by the data that is meticulously saved and maintained continuously.
  7. Ejari will safeguard the interests of real estate owners, real estate companies and tenants being fair and transparent to the whole process.
  8. RERA Ejari System portfolio of services includes- renewals, cancellations, transfers, and terminations of real estate contracts.
  9. Abu Dhabi’s Lease Contract System is referenced by the name Thatheeq. Thatheeq system guides in formulating tenant agreements.
  10. Like RERA Ejari, the Abu Dhabi Thatheeq system regulates every tenancy contracts and avoids any disputes in the future for the same.
  11. Thatheeq Contract Services has various application forms catering to the needs of the people looking for residency in Abu Dhabi. They are:
    • Enroll Register Properties Form
    • Cancel-Close –Terminate Tenancy Contract Form
    • Cancel  Property Management Agreement Form
    • Tenancy Contract Form(new-renew-modify)
    • Property Management Agreement Form
    • Update Property \ Unit Information Form
    • Enable Online Contracts Renewal Form
  12. Abu Dhabi Distribution Company when the rent leases are in agreement is responsible for all the water and electricity to every person with valid lessor or lessee documents 
  13. Sharjah Rent and Lease is undertaken by the Sharjah City Municipality Department of the Sharjah Government
  14. The  Rent Regulation Department of Sharjah provides:
    • Tenancy Contract Attestation Services
    • Rent dispute Settlement Services
    • Services of the executive Section
  15. The rent dispute settlement Services and requests for registration of Execution lawsuit deal with issues relating to rental lawsuits and execution of lawsuits by the Sharjah government respectively.
  16. Filling forms, enrolling for the execution requests, registration, submitting forms and appeals require a complete document reviewing and contract drafting services both for the lessor and the lessee.
  17. The letter to the economic development department for renewing license need to be carried out after adhering to correct proof of documents and previous contracts.
  18. For gas and water, the Water and Electricity and Gas distribution companies will review and contract agreements according to the terms and conditions approved by the Department of Energy.
  19. Every step of the way, UAE real estate conforms to huge legal standards for renting and leasing for both the tenants and owners a thorough process thus enhancing transparency and preventing any risk prone subletting or mismanagement by the owners.
  20. The UAE Government Housing and Renting with respect to the three main geographical areas and their sub municipality regions ensure for complete housing and renting data collection which gives a point of reference for the future predictions and renting regulations of the specific regions.

To conclude, the UAE real estate market is vast with lots of proof of documentation and contract dealings for houses for both owner and tenant and with the related necessary services to be connected for living. The essential documentation with managed document review and contract management services lessens the hassle of delaying to find the home or the tenant for the people in UAE.

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