Letting a property can, even at the best of times, be a daunting and frustrating experience without the right advice. So before you start your search, use our Landlord's Guide to give you the basic knowledge and tools to take the first step in finding the right person to occupy your home.
How Much Will It Cost Me To Let My Property?
The costs involved in letting your property will consist of:Inventory Check Report
An Inventory Check Report should be organized before a Tenant moves in as it's very important you have evidence of your property's condition before a Tenant moves in as the report will act as protection in case of disputes about the condition of the property when the Tenant vacates. The cost of the report varies on the size of property you have.
The Agency Fee is payable when a Tenant is introduced and agrees to rent your property. The fee is payable upon signing the Tenancy Contract. Smith & Ken charge a fee of 5% of the Annual Rent per annum or AED 5000 whichever is the greatest.
Ejari which stands for "My Rent" in Arabic is the new initiative of RERA to regulate the Rental Market of Dubai. This new system is part of Law Number 26 of 2007 which regulates the relationship between Landlords and Tenants. The Tenant must pay to register the Tenancy Contract with Ejari as per Article 22 of Law Number 26 of 2007. Smith & Ken Property Management will register this on your behalf for AED 310.
Are There Any Additional Marketing Costs?
Most Real Estate Agents include the marketing costs in the Agency Fee; however, some may charge additional costs. It's best to check with the Agency before registering your property with them. Smith & Ken do not charge any additional marketing expenses.
Who Will Conduct Viewings On My Property And When Will They Occur?
Your Real Estate Agent should conduct all the viewings, some agencies tend to ask you to do it, however Smith & Ken does not. We like to justify our fees. It is also advisable to choose an Agency that is open for longer hours in order to maximize the number of viewings on your property. Smith & Ken is open 8 am to 8 pm 7 days per week.
Do I Need To Be Present For Viewings?
If your Real Estate Agent has all the keys and access codes for your property then it's better for you not to attend as it's proven that Tenants often feel more relaxed when the Landlord is not present for fear of saying something that might offend.
What Is Ejari And What Do I Need To Do?
Ejari is the Regulatory Body for renting property in Dubai. All Tenancy Contracts have to be registered with Ejari in order for them to be legally binding. It is the responsibility of the Tenant to pay to register the Tenancy Contract as per Article 22 of the Law Number 26 of 2007.
The Landlords Responsibility is to provide the Title Deed and his Passport Copy. When Smith & Ken let your property to a Tenant, we will take care of the registration process.
How Much Will It Cost To Have My Property Managed?
Smith & Ken Property Management have a variety of packages to suit all Landlords. The Property Management Fee is calculated as a % of the Annual Rent you receive for your property and is automatically renewed. Please contact Smith & Ken Property Management to discuss it's Landlords Terms and Conditions of Business.
How Much Does An Inventory Check Cost And Who Is Responsible For Organizing This?
The price varies depending on the size of your property and your Real Estate Agent should be able to organize this on your behalf. Smith & Ken can organize and conduct an Inventory Check for you and will be for free should you choose to use our Property Management Service.
What If My Property Needs To Be Repaired Before I Can Rent It Out?
That's not a problem; many Landlords often need to make a few repairs here and there. Smith & Ken Building Maintenance can help you to fix any damage; the company is famed for quality, price and speed of work. In fact, Smith & Ken OFFER A "Think Smart, Think Smith & Ken" service whereby we decorate your property before advertising it for rent as it will achieve a higher annual rent than that of a property without a lick of paint here and there. Please contact Smith & Ken Property Management on +971 4 439 4300 to find out more.
What Documents Do I Need To Register My Property For Let?
In order to successfully list your property to let with us we need copies of:
- Oqood Registration or Title Deed
- Copy of Passport
- The Keys for the property
What Are The Next Steps To Register My Property?
In order to register your property there's a few ways dependent on what's best suited to you: You can ring our Customer Care Helpdesk on +971 4 439 4300, Email firstname.lastname@example.org, SMS +971 50 115 5690, send a fax to +971 4 439 4399 or lastly go on our website www.smithandken.com and create your account in My Listings Progress http://www.smithandken.com/my-listing-progress
Who Will Value My Property?
We have a very experienced team of Lettings Negotiators and Property Managers who will value your property. In addition, we have a research department dedicated to following the market trends that provides our team with an un-comparable insight into the property market which allows them to be able to provide you with accurate expectations and advice.