Being one of the fastest-growing economies in the world, Dubai has opened a windfall of opportunities for people who want to invest in the real estate space. Needless to say, owning a property in an emirate city like Dubai can prove to be a profitably good decision in the long run. However, property disputes are very common for people who own real estate in Dubai and have rented out the same. This is exactly where RERA Dubai comes into the picture. If you are not aware of RERA, then your search for finding important information about RERA ends right here with this content post. Read on till the end to know what RERA is all about.
RERA Dubai: An Introduction
RERA is a government body that was established in 2007 for the purpose of regulating the property sector of Dubai. It works with the primary aim to boost foreign investments and settle disputes between tenants and landlords. For the unversed, RERA also carries a fairly good administrative independence that lets it enjoy complete legal authority for regulating Dubai’s real estate sector. At the fundamental level, it is the regulatory arm of DLD (Dubai Land Department) and offers a completely transparent and legal framework to the users.
Major Responsibilities of RERA Dubai
The following are the key responsibilities of RERA:
- It provides licenses to real estate agencies in Dubai
- RERA is responsible for regulating the trust account of the real estate developers
- Helping the users in registering and regulating the lease agreements
- Supervising the associations of owners who manage various buildings in the emirate
- It also publishes various studies for the property sector as a whole
- RERA supervises all the property advertisements in the mass media
- It provides real estate licenses to foster national participation in the emirate’s realty sector
Insight into RERA Forms
RERA forms were introduced with the objective of ensuring a sense of transparency in the transactions:
Following are the RERA forms:
- FORM A: This is an agreement between the listing agent and the seller
- FORM B: This is basically an agreement between a property buyer and an agent
- RERA FORM F: It is an agreement between a property buyer and the seller
An Insight into Smart Initiatives by RERA
To ease the entire process of property management and easing out the conflicts between tenants and landlords, RERA has come up with several smart initiatives. Here’s everything important you should be knowing about them.
Dubai REST Initiative
The Dubai REST app is basically a one-stop solution app intended for land owners and other service providers. It was launched by the DLD and offers a completely safe way to manage real estate activities of the users. The app lets the users manage real estate transactions and access information related to the city’s realty sector along with other DLD services.
Dubai Brokers Initiative
It is again a fine specimen of innovation engineered for users who are looking for property brokers in Dubai. Not just this, this app also ranks the brokers as per their overall performance, citizenship and efficiency to sell properties. It also offers ownership certificates for the sole purpose of enhancing efficiency and speed of service delivery.
Smart Investment Map (Sim) Initiative
The Smart Investment Map is a digital portal that enables users to search for properties for sale and renting in Dubai. It has a number of services which allow you to choose a property, and communicate with property owners while making transactions online.
EJARI is DLD’s smart leasing management application. It lets property management companies use this application for managing leases irrespective of geographical location and at any time. It also reduces the overall cost and time required to complete the registration of rental contracts.
Smart Judge Service
This service is all about educating the parties involved in a rental contract regarding their legal rights with respect to Ejari. It also informs them if they are eligible to file a judicial case or not. With this service, users are able to access virtual judgements and free legal consultancy related to rental business in Dubai. Here’s how you can initiate this service:
- Go to the DLD’s website
- Select RDC (Rental Dispute Settlement Centre)
- Choose ‘Smart Judge’ option from the drop-down menu
- Proceed to service
RERA Calculator: How Does it Work & How Much Should You Pay on Rent?
The objective of the RERA calculator is to help the residents verify how much a landlord can increase their rent. It will help you prevent the landlord to do any kind of cheating or overcharge you in any way.
Here’s how you can use the RERA calculator:
- Go to the official website of RERA
- Enter the required details based on the property category such as residential, commercial or industrial
- Press the button to calculate the rental increase
- The rent calculator will display the total estimated amount that you can expect to increase in your rental price and that you will need to pay
Contact Info About RERA Dubai
Here’s how you can contact the RERA authorities in Dubai.
RERA Dubai Address
Dubai Land Department, Baniyas Road P.O.Box: Dubai 1166 Makani: 30404 94991 United Arab Emirates
RERA Dubai Timings
From Monday to Thursday, the office hours are between 07:30 am to 3:30 pm. On Fridays, the timings are from 07:30 am to 12:00 pm. On Saturdays and Sundays, the office is closed.
RERA Dubai Contact Info
The contact number of the RERA office is +971-800-4488
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