It's not that only
landlords in Dubai can appoint leasing/rental agents, renters in Dubai too have
the option.
The Dubai Land
Department (DLD) website states a renter can appoint a preferred agent by
signing a standard form (D2) and should appoint maximum of three agencies.
It is rarely heard
that prospective tenants appoint agents to help them find a house. Mostly
people call the agents after screening their adverts to schedule an appointment
and visit to the listed property. Although it is a time consuming work for the
tenant, appointing a leasing agent puts the onus of finding the right house,
within the defined needs, of the client.
Real estate agents
say they rarely get individuals signing up with them as exclusive agents aiding
them to find a rental property, it is mostly the corporates that do so.
In Dubai, the renter
pays five per cent of the annual rent amount as a service fee or commission to
the agent. This is payable only upon signing a rental contract agreement.
D1 form for landlords
Landlords also need
to sign a standard form (D1) to appoint an agent to look after their property
and find a suitable tenant. This service is negotiable and flexible, according
to DLD.
“If using a
registered agent/broker, ensure you have appointed them on the approved form
(D1) and ensure the agent knows the market, likely rent return for the area,
and the agency has a tenant ‘pre-screening’ procedure in place.”
DLD also informs
landlords to make sure to inform their communication updates and consultation with
each other on the form.
“If the agent does
not do what they agreed to do, terminate them and find another agent,” it
recommends.
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