Rent in Dubai is perhaps the first thing on most people’s list of costs. Dubai’s real estate market includes a flourishing rental section that is highly sought after with expat residents who migrate here in search of a better lifestyle and professional prospects. Various established customs, including rental payments, control and monitor the city’s real estate market. If you are planning to rent a house, here are a few significant information to know about paying rent in Dubai.
Different Types of Rental Arrangements in Dubai
Rental fees in Dubai are greatly impacted by your rental agreement. To be legally binding in Dubai, the landlord, real estate agent, and/or tenant must all register Ejari online. If a rental contract is not registered with RERA in Dubai, both parties have no legal protection in the case of a rent disagreement.
Before we get into the particulars of paying rent in Dubai, let’s have a look at the many renting options available in the city.
Fixed Rental Contract in Dubai
Aside from the necessary rights and duties, the landlord and tenant can add any extra products to the contract that they have mutually agreed upon.
Any breach of the agreement’s terms may result in legal action, if the injured party so desires. Rent conflicts can be filed with RERA by landlords and renters to seek legal recourse for any legal infractions.
Please keep in mind that failing to pay rent on time in Dubai represents a contract violation. In almost all cases, owners in Dubai accept post-dated cheque(s) for rental payments.
Different Modes of Paying Rent in Dubai
Whether you are looking for a rental flat in Dubai or a larger piece of property it is important that you are familiar with the process of renting properties in Dubai.
You may have observed that landlords in Dubai do not favour monthly rental payments as a form of security. Instead, they want rental payments in the form of a single or many cheque. This also discourages the renter from leaving before the contract ends.
Furthermore, thanks to the agreement reached between Emirates NBD and the Dubai Land Department, direct debit Ejari payment has become a realistic alternative. Rent checks are now computerised and automated. This implies that rental payments can be collected via the UAE Central Bank’s Direct Debit System (UAEDDS).
Paying Rent in Dubai With a Single Cheque
Some landlords in Dubai want a single cheque for rent payment. This implies you must pay the whole year’s rent in one payment, with a cheque dated on the day you get the property keys. While this manner of paying rent in Dubai secures the landlord, it is not always feasible for renters.
However, paying a lump sum for rent isn’t an awful concept. Yes, it will cost you money at first, but it will save you from having to pay rent on a regular basis. Also, while paying rent in Dubai with a single cheque, you normally pay less than if the rent is paid in many installments.
Using Multiple Cheques for Rental Payments in Dubai
The other and more convenient way to pay rent in Dubai is with many cheques. Some landlords accept rent payments in two, four, or even six validates throughout the course of the year. All of these post-dated checks are paid to the landlord or managing properties business on the day the property is handed over to you.
The landlord then proceeds to cash them on the due dates. Tenants’ financial burden is reduced by having the capacity to pay rent biannually, quarterly, or every two months. Paying rent in Dubai using a lot cheques, on the other hand, has a cost. In the long term, you pay more than you would with a single-cheque payment.
Direct Debit
Rent payments in the UAE can be made using Asteco’s Direct Debit System (UAEDDS). Direct debit is available to Emirates NBD bank account and credit card customers.
Even non-resident property investors from other nations can create non-resident savings accounts with Emirates NBD and receive rent. Remember that the bank does not levy fees for low account balance. However, in such instances, the landlord or property management firm may impose a penalty directly, outside of the banking network.
Payment via Credit and Debit Card
The Keyper app allows tenants to pay their yearly rent in 12 monthly installments. This service was recently launched with the purpose of making it easier to pay rent in Dubai. The programme in question eliminates the need to manage postdated cheques manually. Let’s see how this’rent now, pay later’ app works.
- It offers you with monthly rent on your present lease.
- They pay the landlord beforehand and sign a new lease with you.
- Keyper is paid monthly and you earn credit card points.
The software allows you to add multiple credit and debit cards. You will receive a payment status notice once you have made the payment. Keyper’s other functions include payment tracking and contract administration.
