Dubai Land Department (DLD) sets laws to regularise the real estate market in the Emirate. The DLD has introduced systems and online portals to ease the real estate transaction processes. Since Dubai is a hub where most expat communities reside in rental properties, DLD has launched several services to regularise rental values.
That said, DLD provides rent valuation certificates to benefit property owners and tenants. The property lease valuation request allows the customers to find the rental value of a specific real estate unit.
Let’s go through the process and documents required to request a valuation for the property lease.
DLD PROPERTY LEASE VALUATION CERTIFICATE
If you own a house in Dubai and face trouble in setting up a rental value, the DLD lease valuation is here for you. The lease valuation service allows you to learn the actual value. However, this lease valuation certificate is only valid for vacant properties according to law number 43 of 2013.
If the landlord asks for a rental increase at the time of renewal using the DLD lease valuation certificate, tenants can challenge the notice and file a rental complaint in Dubai. Speaking of that, the Rental Dispute Committee (RDC) will look into the matter to give a judgement accordingly.
Landlords can only ask for rental increases as per the RERA rent calculator. Moreover, homeowners can ask for a maximum 10 to 15% annual rent increase. For example, if the rent is 21 to 30% below the market value, owners can increase the rent by 10%. However, many landlords find lease valuation more accurate than the RERA rent calculator. The rental value will depend on the common grounds that both landlord and tenant will find suitable.
Therefore, if you are a homeowner, you can request a property lease valuation to find the accurate rental value according to the real estate market. Let’s go through the requirements, procedures and fees for property lease valuation requests.
REQUIRED DOCUMENTS FOR PROPERTY LEASE VALUATION
Whether you own an apartment in Dubai or a villa, you can request property lease valuation via Ejari (DLD website) or Dubai Rest mobile application. Applicants must submit the following documents to request a property lease valuation certificate through Ejari.
- Property photos
- Dubai municipality drawings
When requesting property rental value through the Dubai Rest application, customers need to submit the following documents:
- Property photos
- Dubai municipality drawings
- Power of attorney (In case of legal representative)
- Inheritors need to submit the following documents to their legal representatives:
- An authorisation letter from the court for applicants
- Copies of the Emirate IDs and passports of all the heirs
- Enter the tenancy contract number for the Ejari registration certificate information (When a tenant is applying)
Besides, the service terms indicate that only the homeowner, tenant or legal representative can apply for the property lease valuation request.
PROPERTY LEASE VALUATION REQUEST PROCEDURE
Whether you request for property lease valuation certificate through the Dubai Land Department’s website or the Dubai Rest app, you need to follow the below-mentioned steps:
- Select the type of property for obtaining rental value
- Fill complete information required regarding the property
- Submit the required documents
- Accept the service terms and conditions
- Request for the lease valuation certificate
- Pay the required fees after the approval of the property lease valuation request
After you complete the steps and pay the required fees, you will receive the property lease valuation certificate within seven working days.
PROPERTY LEASE VALUATION FEES
Applicants requesting the property rental value certificate have to pay the following fees:
- AED 2000 per unit and AED 10,000 maximum
- Knowledge Fees: AED 10
- Innovation Fees: AED 10
Property lease valuation payment method includes the following channels:
- Noqodi
- Debit or credit card
The procedure for the property lease valuation request is pretty simple. Additionally, it aids tenants and landlords to learn the appropriate rental value according to the market trends. Therefore, if you are looking for rental apartments in Dubai, you can request the DLD’s rent valuation certificate to negotiate the annual rent.
Stay tuned to the UAE’s leading property blog to learn processes, laws and regulations regarding the real estate market in the Emirates.
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