Effective Property Rental

Before diving into the rental process, it’s essential to understand the potential rental value of your property. Seek a valuation or a Comparative Market Analysis (CMA) from a local property expert who possesses in-depth knowledge of the market.

Choosing the right brokerage firm is pivotal in effectively listing your property and attracting high-quality tenants. Conduct thorough research to identify a brokerage with a reputable track record and expertise in marketing properties similar to yours. To stand out in a competitive market, your listing needs professional photography, compelling descriptions and access to an extensive brokerage network.

As a registered property owner, you’ll need to sign a RERA listing form for your broker to officially list the property. Additionally, your broker may require copies of the title deeds and your identification documents to fulfill their due diligence requirements.

First impressions matter, especially in real estate. Work closely with your broker to enhance the visual appeal of your property through minor touch-ups, decluttering, and strategic staging. This includes attention to both interior and exterior spaces to captivate potential tenants from the moment they arrive.

Stay informed about the progress of your property listing through regular communication with your broker. Your property should be actively promoted on the broker’s website and various real estate portals. Regular updates on viewing appointments and tenant feedback are crucial for making informed decisions throughout the rental process.

After listing your property, maintain regular communication with your broker to stay informed about viewing appointments. Evaluate all offers received and be open to negotiation. However, refrain from dismissing any offers prematurely. It’s crucial to gauge the level of interest in your property before making decisions about offers.

Conduct thorough background checks on prospective tenants, including their rental history, employment status, and financial stability. This can help you avoid problematic tenants and minimize the risk of rental defaults.

Prepare a legally binding tenancy agreement that clearly outlines the rights and responsibilities of both parties, including rent amount, payment schedule, security deposit, maintenance responsibilities, and terms of occupancy.

Request a security deposit from the tenant, typically 5% if unfurnished and 10% if furnished, to cover any damages. Also, ensure that the rent cheques are correct before handing over the keys to the property.

It’s mandatory to register the tenancy contract with Ejari, the online registration system of RERA. This ensures that the rental agreement is legally recognized and provides protection for both the landlord and tenant.