A governmental agency called the Real Estate Regulatory Agency (RERA) was created in 2007 to oversee Dubai’s real estate market. In order to encourage foreign investment and resolve disputes between tenants and landlords, it establishes policies and makes plans for Dubai’s real estate industry. In addition to having its own financial system and administrative independence, RERA is fully authorized by law to oversee Dubai’s real estate market. Here is all the information you want on RERA, its programs, and your obligations.
In Dubai, the phrase “real estate regulatory agency” (RERA) is frequently used. RERA is a regulatory section of the Dubai Land Department that was established by H.H. Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai and Vice President and Prime Minister of the UAE (DLD). It gives everyone involved in Dubai’s real estate industry a clear and practical legal framework.
The company puts a great deal of time into creating an online community for tenants, buyers, property developers, and real estate investors. Also, it makes it easier for auxiliary industries like banks, legal offices, and insurance to collaborate with one another.
The following are the main duties of RERA:
- Licencing 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
- Licencing 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.
The agency collaborates with the DLD, and the two organizations have jointly introduced a number of smart apps to make life easier for everyone connected with the real estate industry and the RERA rules in Dubai. The top five real estate technologies introduced by DLD are listed below.
The Dubai REST app (Dubai Real Estate Self Transaction) offers tenants, owners, and other service providers a one-stop destination for all their needs. The app provides a secure way to manage real estate activities. It was launched by DLD under the direction of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. You may deal in real estate, get details on the city’s real estate market, and access other DLD services with this app.
Another intelligent application from the DLD, Dubai Brokers, gives users accurate and up-to-date information on licensed real estate brokers in Dubai and their offices. Also, it evaluates brokers based on their citizenship, effectiveness, and ability to sell homes. To increase efficiency and the timeliness of service delivery, the Dubai Brokers app also confirms ownership certificates. In Dubai, there are several real estate applications that are beneficial to use.
SMART INVESTMENT MAP (SIM)
A digital portal called Smart Investment Map (SIM) was created to list and search for properties to buy and rent in Dubai. It offers a variety of e-services that let you pick a property, get in touch with property owners, and conduct transactions online.
Ejari, a smart leasing management application from DLD, specializes in managing leasing activities. This application can be used by property management companies, property owners, and even the owner’s agent to manage the leases from any location at any time. Also, it makes it easier for customers to register their Ejari contracts online and minimizes the time and expense associated with doing so for rental contracts.
SMART JUDGE SERVICE
The Smart Judge service informs all parties to a tenancy agreement of their legal rights with regard to Ejari and lets them know if they have the right to bring a lawsuit or not. Moreover, it offers virtual judgements in response to a last request for defense advisers and offers free legal advice on Dubai’s rental sector. You need to take the following action to start this service.
- 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
WHAT IS THE RERA RENT CALCULATOR’S PROCESS?
Use the online RERA Rent Calculator to figure out the increase in rent in the Dubai real estate market.
- 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 CAN I GET A RERA LICENCE IN DUBAI?
If you’re wondering how to obtain an RERA certificate in Dubai, follow these steps.
- 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 licence in Dubai
- Once approved, you must make payment via the desired payment option
- Then, you will receive a notification of your registration