Everything you need to know about RERA Dubai
The Real Estate Regulatory Agency (RERA) is a government body established in 2007 to regulate the property sector of Dubai. It sets policies and makes plans for Dubai’s property sector to boost foreign investments and settle disputes between tenants and landlords. RERA has administrative independence, enjoys its own financial system and has the full legal authority to regulate Dubai’s real estate sector. Here is everything you need to know about RERA, its initiatives and its responsibilities.
WHAT IS RERA DUBAI?
Dubai’s real estate regulatory authority ensures seamless real estate processes in the city
Real Estate Regulatory Agency (RERA) is a common real estate term in Dubai. Launched by H.H Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai and Vice President and Prime Minister of the UAE, RERA is a regulatory arm of the Dubai Land Department (DLD). It offers a transparent and effective legal framework to everyone connected to the real estate sector of Dubai.
The agency works hard to develop an online society for tenants, buyers, property developers and real estate investors. It also facilitates supporting sectors such as insurance, law firms and banks in order to boost mutual cooperation.
WHAT ARE THE CORE RESPONSIBILITIES OF RERA?
The primary responsibilities of RERA include:
- Licensing real estate agencies in Dubai
- Regulating trust accounts of real estate developers
- Registering and regulating lease agreements
- Supervising the associations of owners managing various buildings in the emirate
- Publishing studies for the property sector
- Supervising property advertisements in the mass media
- Licensing real estate exhibitions to foster national participation in the emirate’s realty sector.
- Informing people of regulatory acts pertaining to buying or renting real estate.
To ensure the transparency of real estate transactions, RERA has introduced the following forms:
- FORM A: Agreement between the listing agent and seller
- FORM B: Agreement between a property buyer and agent
- RERAFORM F: Agreement between a property buyer and seller
RERA SMART INITIATIVES
The agency works in harmony with the DLD and together they have launched many smart applications to ease the lives of everyone involved in the property sector and RERA Dubai laws. Here are the five most popular real estate technologies launched by DLD.
Dubai REST app (Dubai Real Estate Self Transaction) is a one-stop solution for tenants, owners, and other service providers. Launched by DLD under the supervision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the app offers a secure method to manage real estate activities. Through this app, you can make real estate transactions, access information about the city’s realty sector and other DLD services.
Dubai Brokers is another DLD-introduced smart application that provides people with accurate and real-time information about licensed property brokers in Dubai and their offices. It also ranks brokers per their citizenship, performance and efficiency to sell properties. Dubai Brokers app also verifies ownership certificates to enhance efficiency and the speed of service delivery. There are many real estate apps in Dubai that are worth using.
SMART INVESTMENT MAP (SIM)
The Smart Investment Map (SIM) is a digital portal built to list and search for properties for sale and rent in Dubai. It features a number of e-services that allow you to choose a property, communicate with property owners and make transactions online.
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Ejari manages leasing agreements
Specialising in the management of leasing operations, Ejari is DLD’s smart leasing management application. Property management companies, property owners and even the owner’s representative can utilise this application to manage the leases from anywhere and at any time. It also reduces the cost and time required to complete the registration of rental contracts and allows people to simply register their Ejari contracts online.
SMART JUDGE SERVICE
The Smart Judge service educates all parties involved in a rental contract about their legal rights with respect to Ejari and informs them whether they can file a judicial case or not. It also offers virtual judgments as a result of a final request for legal advice and provides free legal consultancy on the rental business in Dubai. To initiate this service, you must do the following.
- Visit DLD’s website
- Select RDC
- Choose ‘Smart Judge’ from the drop-down menu
- Proceed to service
RERA DUBAI CONTACT INFO
- Location: Baniyas Road, Deira
- Timings: Monday to Thursday: 07:30 am to 03:30 pm | Friday: 07:30 am to 12:00 pm | Saturday and Sunday: Closed
- Contact Number: +971-800-4488
HOW DOES THE RERA RENT CALCULATOR WORK?
If you want to calculate the increase in rent in the Dubai property market, you can use the online RERA Rent Calculator.
- Visit Dubai Land Department’s website
- Select ‘Rental Calculator’ from the homepage of RERA Dubai calculator and proceed to the service
- Fill out the required fields and select calculate
- The rent calculator will then display the estimated amount of increase you can expect for your rental price
HOW TO GET A RERA LICENCE IN DUBAI?
Wondering how you can get a RERA certificate in Dubai, here’s what you need to do.
- Go to Dubai Land Department’s website
- Create an account in the Trakheesi system
- Enter your information and upload the required documents
- Submit the request for RERA licensee in Dubai
- Once approved, you must make payment via the desired payment option
- Then, you will receive a notification of your registration
HOW TO BECOME A RERA-CERTIFIED AGENT?
If you want to earn your client’s trust and maintain a good reputation in the realty sector, you must go through this procedure to become a RERA-certified agent in Dubai.
HOW TO FILE A COMPLAINT TO RERA DUBAI?
The process to lodge a ‘RERA Complaint’ is easy. Follow this step-by-step guide to file a rental dispute with RERA Dubai.
And that concludes our guide to RERA Dubai. The authority has set also definitive laws to regulate the relationship between the landlord and the tenant. Here is a list of RERA rules for tenants to minimize disputes and misunderstandings with property owners.