If you rent a property in Dubai but have problems retrieving mortgages, the Land and Property Department in Dubai is working on something that might help you in the future.
According to reports, the Department of Land and Property look forward to a new form of deposits when the rent. In principle, the new form to be taken by the deposit follows the processes of an organization that imposes better controls on the owners to recover deposits as to how and when the recovery process.
Currently, the deposit is paid to the landlord at the beginning of the tenancy contract, by a real estate agent, then returned by the landlord after the tenant has moved out of the property, and is usually minus expenses related to the renewal of the damage. The impractical aspect of this procedure is that if the tenant disagrees with the landlord to take responsibility for the damage, the tenant will have to open a file at the Dispute Resolution Center. Even if there is no dispute, the tenant will have to rely on the landlord to recover the deposit.
In addition, Mohamed Ahmed Yahya, deputy chief executive officer for leasing at the Land and Property Department told Arabian Business magazine that one of the new conditions is that landlords must return deposits within a “reasonable period”.
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