Dubai Rent Calculator
Dubai RERA Calculator
Dubai RERA or Real Estate Regulatory Agency is a government entity regulating the real estate market of the Emirates. It is a division of Dubai Land Resource Department. All the real estate developers and brokers have been registered with RERA in order to protect the rights of potential buyers, sellers and tenants more effectively. Through the stringent laws of RERA, the instances of property frauds have decreased, at the same time investing and dealing in a property has become more transparent.
The organization has also created RERA website for Dubai which has become a useful platform for real estate developers, buyers, agents and banks to coordinate among one another. It provides all the necessary information and regulations about Dubai property market. Moreover, there are latest property index and rental index regularly updated online. For example, you can check the current year’s index – RERA rental index 2017 or RERA index 2017 through RERA Dubai calculator.
When it comes to property buying, both land and ready apartments, there are certain regulations and tips provided by RERA. Such laws help protect the buyer’s as well as seller’s interests in order to eliminate fraudulent cases. Based on the revised 2002 property law, even foreigners can buy, sell and rent Dubai properties without requiring any special permissions.
Apart from property purchase laws, there are property mortgage laws as well. In fact, there is an online RERA mortgage calculator available for ease of monthly mortgage planning.
RERA covers all the rules and regulations related to a rental contract between the involved parties. From tenancy agreement to laws regarding agreement termination, everything comes under RERA authority. These laws protect the rights of both the parties – owners and tenants equally.
There are also provisions in the law which states the circumstances under which such agreements can be terminated such as failure in full or part of the rent payment even after owner’s notice (comprising 30 days) and illegal use of the property.
There is Dubai rent increase law as well specified by RERA which controls the rise in property rent. If the property owner decides to increase the rent, he must first abide by the rules and use the RERA calculator.
The online RERA rental increase calculator helps the property owners determine the average rent in their area and whether they are entitled to any increase in the annual rent based on the current rent index. For instance, RERA rental calculator 2017 was used by property owners, agents and developers to determine the new rent at the start of the year based on the revised RERA rent index 2017.
In cases of rental increase, the tenants are entitled for advance notification of 90 days by the owners. It is, however, up to the tenants to accept such an increase. If the tenants decide to terminate the agreement, property owners have to be given advance notice of 60 days before agreement renewal.
If there are any disputes regarding your property deal including purchase, rental and mortgage disputes, you can file a complaint to RERA dubai complaints authorities. There are dedicated officials handling these complaints based on the guidelines specified.
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