Is the term of your lease about to expire? It’s a good idea to evaluate your position and decide if this is still the best place for you before you renew your lease. It’s a significant decision whether to stay put or begin looking for a new place to live. Therefore, we’ve compiled a list of things to think about before your tenancy contract renewal in Dubai to aid you in making the best decision.
Exactly what you’re looking think about before renewing your lease in Dubai
Here are some things to keep in mind while extending your lease in Dubai.
Future Goals You Set
It’s wise to go through your intentions and decide whether the property still meets your needs before signing the renewal lease. If you want to establish a family, change employment, or even return to your native country, you might want to reevaluate your living situation.
You might start looking at different home possibilities in Dubai’s flourishing rental market if the situation appears erratic. For instance, instead of signing a long-term yearly lease, you can opt for a short-term rental if you intend to leave the country shortly. For a monthly rent, it’s simple to discover flats in Dubai that give more freedom.
Budget You Set
Perhaps the most apparent consideration when renewing a lease is what you can pay. But occasionally it is simple to forget about the budget. Before renewing your Dubai tenancy contract, take a moment to think about your budget because the annual rent eats up a sizable portion of your income. Move to a less expensive property in the same neighborhood if you wish to reduce your spending in the next months.
But, keep in mind that you must provide your landlord at least 90 days’ notice before amending any conditions, including the rental amount, in accordance with Dubai’s lease contract renewal regulations.
Conditions of Your Contract
Make sure you are aware of any modifications to your lease conditions before renewing your leasing agreement in the UAE. This might involve anything from charging for parking to altering building policies to forbid dogs. In general, when the 90-day notice period nears, it is best to speak with your landlord personally. Before the tenancy contract renewal, it’s crucial to ensure that your new lease conditions meet your needs in order to prevent unpleasant issues later.
When it comes time to renew your rental agreement, take into account whether you may bargain for more perks in your new lease conditions. This includes having access to community amenities like a gym and pool, extra parking places, or routine upkeep.
Moreover, it’s typical for landlords to raise the rent when a lease has to be renewed. On determine if the requested increase complies with RERA calculations, see our guide to utilizing the RERA Rental Increase Calculator. Renters are required to follow the RERA Price Index.
Check to see whether you may extend your lease if you are facing a rent hike. Ask your landlord about fee exemptions or discounts if you’ve had a strong working relationship with them when it comes time to renew your lease in Dubai. Many potential problems can be resolved if the renter and landlord get along well.
Fixing and Maintaining
It is also advised that you talk to your landlord about the need for any repairs or upkeep. The landlord may decide not to renew a lease if the property requires significant repairs and upkeep. The renter might be asked to pay anything as compensation. But in order to achieve it, a technical report from Dubai Municipality is required.
Way of Life Matter
Consider how your stay in your existing residence has been thus far before renewing your leasing contract in Dubai. When you initially signed the lease, the ideal house could have appeared ideal, but it might not be ideal anymore.
Even if small annoyances are common, you should think twice before renewing your lease if you have trouble getting to work, there are few facilities, or the area is noisy.
You can relocate to a different neighborhood if it fits your lifestyle better. For instance, apartments for rent in Dubai Sports City are perfect for athletes because there are nearby football, cricket, and gym facilities. On the other side, individuals who like being close to hip restaurants and attractions prefer flats for rent in Downtown Dubai.
You should feel most at peace in your house, but if that isn’t the case any longer, you should take it into account while renewing your lease in Dubai. Make every effort to receive the largest security deposit return if you decide to vacate your current residence.
Perform Actually Study
Before your lease is renewed, it’s a smart idea to look at alternative houses on the market. Who knows, you might be able to discover a comparable or better house without having to pay more for it at the same price.
A shorter commute to work or your child’s school, greater storage space, and even easier access to shops or restaurants can all be benefits of moving. For greater room and solitude, some locals choose to move up from an apartment to a villa.
Browse our vast selection of homes for rent in Dubai to find budget-friendly sea view apartments, family villas, and attractive townhouses.
But, if you choose not to renew your leasing agreement, be sure to account for the additional money you will need to spend on moving, decorating, and setting up your new house. Even if you could discover a house within your budget, these extra expenses could make the whole moving process pricey.