Unlocking the Power of Online Signature Legitimateness for Rent to Own Agreement in UAE

How to eSign a document: online signature legitimateness for Rent to Own Agreement in UAE

now that we discussed various options for lease for your business it is about the right time to share with you information on signing lease agreements this won't be a legal advice instead we will provide you with structured practical information on how to rent properties how to check your real estate brokers which laws govern rental methods where to go should you have a dispute with the landlord and what rental of commercial property involves in general regardless of the type of the commercial property you require the first question is where to search for the properties as discussed in the previous chapters you can start searching online even if you are not in Dubai yet websites do bezel and Property Finder could be something you can initially rely on properties in the UAE and mostly rented through real estate brokers although sometimes you can find as saying that property is advertised directly by the landlord in the latter case this may mean that you will be able to save to save on not paying real estate brokers fees as soon as he found properties you like you arrange for the viewings a viewings allow you not only to assess the state of the property but to check location common areas of the property and learn more about available infrastructure this all will help you to make a final decision after the option you would wish to proceed negotiation is a very important part preceding lease agreement execution which most of the time starts as you view the property and continues days after the viewing you should be aware of this cultural aspect and take it naturally proposing to decrease the rent as you will pay say in one check for the whole year in advance we already mentioned before that rental payments in the UAE are made mostly by bank checks the exception being when you pay rent for the whole year in advance by bank transfer or in cash as such if you are not prepared to pay for the whole year in advance there is still room for discussions you can agree that you would pay in two or three or four checks once you agree on the price and the terms and conditions of the rent but before you signed lease agreement there are several steps you should take first first of all you need to ensure that the real estate broker if you are dealing with one is registered and represents a legitimate real estate brokerage company which obtained relevant licence to do this request the broker to demonstrate his or her broker cart make a copy of the same and later search for the approved broker on the website of the violin department property has been rented in Dubai once confirmed the next step would be to check that the real estate company this broker represents is a legitimate one to do this we shall visit the website of the by Department of Economic Development and on main page proceed to the section his services search trade name next you take the name of the company from the brokers card insert it into the box English trade name type in verification code and press search if the company is registered the license number will appear and you will be able to check if the company renewed its licence in addition to these measures you can also google the company and check the section use to ensure that the company was not involved into any legal cases secondly you need to make sure that you receive all documents of the property owner for your files ask real estate broker to share with you a passport copy of the property owner resident visa copy Emirates ID copy and a title deed copy of the property thirdly make sure that all your payments are made to the property owner only in other words in the name of the person mentioned on the title deeds in general we recommend that you use reputable real estate agencies especially if you just start your journey in the UAE finally feel free to negotiate additional terms of these which often come on a separate page you may even want a lawyer to have a look at those who will then suggest relevant amendments that can be then negotiated with the landlord and the real estate agency as soon as the terms and conditions are agreed on and the due diligence process is completed you will proceed with signing of lease and payment the payment will involve the following payment to the real estate broker brokerage fee and security deposit payment as well as the payment for the first year of friend to the landlord sometimes when there are no individual meters in the building you may need to pay the landlord a lump sum for the cooling charges however this shall be clearly mentioned the lease agreement additionally you will most probably need to cover the cost of registering your tenancy culture real estate broker will normally help you to get an EGR a registration certificate auto-feed certificate or register your lives with municipality of the relevant emirate however you will bear the cost of list registration which is about several hundred of urea terms to ensure that you know your rights you should know which laws govern relationships between the landlord and the tenant you shall bear in mind that real estate legislation varies from Emery to Emmerich all the laws are publicly available and you will be able to find them on the websites its land departments in the UE on the websites of real estate agencies as well as in the public domain we still encourage you to consult a legal professional in case any disputes between you and the landlord arise in this chapter we wanted to provide you with general guidance in connection with property rent for your business now that you have a general understanding of the matter it is a high time to move to the next chapter [Music]