Renting a home in Dubai affords one the chance to experience the most dynamic lifestyle there is, but renters often fail to realize the secret costs that come along with their new homes. Apart from the rent itself, a number of other expenditures can affect your budget. Here is more insight into the lesser-known costs of rental properties in dubai that may help you plan better.
1. Security Deposit
Generally, when a tenant signs a tenancy agreement, they pay a security deposit. The deposit varies from 5% of annual rent on unfurnished houses to a maximum of 10% on furnished properties. Though the deposit is refundable, it is usually kept if the property left is not returned in its original state.
2. Agency Fees
Using an estate agent to get you rental properties in dubai may attract a fee that the agency requires. The fee is usually estimated at 5% of the annual rent. It would, therefore, be prudent to add such a single payment expense to your plan when moving.
3. Ejari Registration
The deposit along with the registration cost would be waived on time once the tenancy contract is registered at Ejari.
4. Utility Deposits and Monthly Bills
One has to pay a deposit for the setting up of utilities such as water, electricity, and air conditioning at DEWA (Dubai Electricity and Water Authority). On the other hand, the amount of the monthly bills might differ much with regard to the area of your property and usage.
5. Maintenance and Repairs
Major repairs are usually the responsibility of the landlord of rental properties in dubai, but the tenant would have to pay for small maintenance costs. Make sure to read your tenancy agreement so that you know your responsibilities.
Prevention of such unknown expenses will not stress you financially in case you need rental properties in dubai. So plan smart and live life as if you are in Dubai.
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