The Real Estate Regulatory Agency (RERA) is a government entity founded in 2007 to oversee Dubai’s real estate firm. It establishes rules and strategies for Dubai’s property industry in order to attract foreign investment and resolve conflicts between tenants and landlords. RERA has administrative freedom, its own finance system, and complete legal ability to govern Dubai’s real estate market. Everything you need to know about RERA, its activities, and its duties is provided below.
The Real Estate Regulatory Agency (RERA) is a frequent real estate term in Dubai. RERA was established by H.H Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai and Vice President and Prime Minister of the UAE, as a regulatory arm of the Dubai Land Department (DLD). It provides a clear and effective legal framework for everyone involved in Dubai’s real estate industry.
The organization is working hard to create an online community for tenants, buyers, property developers, and real estate investors. It also makes it easier for supporting industries like insurance, legal firms, and banks to collaborate.
RERA’s key tasks include the following:
- Licencing real estate agencies in Dubai
- Real estate developers’ trust accounts are regulated.
- Lease arrangements must be registered and regulated.
- Supervising the groups of owners in charge of different properties around the emirate
- Publishing research for the real estate industry
- Supervising real estate ads in the media
- Licensing real estate exhibits in order to increase national involvement in the emirate’s real estate market.
- Informing individuals about regulatory activities relevant to buying or rental of real estate.
Check out our guide for additional information on the scope and type of RERA forms in Dubai.
The agency collaborates with the DLD and has created various smart applications to make life easier for everyone involved in the property market and RERA Dubai legislation. DLD’s five most popular real estate technologies are listed below.
The Dubai REST app (Dubai Real Estate Self Transaction) provides tenants, owners, and other service providers with a one-stop solution. The app, developed by DLD and overseen by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, provides a safe way to handle real estate activity. You may use this app to conduct real estate transactions, obtain information on the city’s real estate industry, and access other DLD services.
Dubai Brokers is yet another DLD-launched smart application that delivers accurate and real-time information on licensed property brokers in Dubai and their offices. It also grades brokers based on their citizenship, performance, and efficiency in selling real estate. The Dubai Brokers app also validates ownership documents to improve efficiency and service delivery speed. There are many real estate apps in Dubai that are worthwhile to use.
SMART INVESTMENT MAP (SIM)
The Smart Investment Map (SIM) is a digital platform designed to list and search for Dubai real estate for sale and rent. It offers a variety of e-services that enable you to select a property, contact with property owners, and conduct transactions online.
Ejari is DLD’s smart leasing management application that specializes in the administration of leasing activities. This tool may be used by property management companies, property owners, and even the owner’s agent to manage leases from anywhere and at any time. It also decreases the cost and time necessary to complete rental contract registration and enables consumers to easily register their Ejari contracts online.
SMART JUDGE SERVICE
The Smart Judge service advises all parties engaged in a rental contract on their legal rights with relation to Ejari and whether or not they may launch a court lawsuit. It also gives free legal advice on the rental company in Dubai and produces virtual judgements as a consequence of a final request for legal help. You must complete the following to activate this service.
- Visit the DLD website.
- Choose RDC.
- ‘Smart Judge’ should be selected from the drop-down option.
- Proceed to the service.
CONTACT INFORMATION FOR RERA DUBAI
- Location: Baniyas Road in Deira
- Hours: Monday through Thursday, 7:30 a.m. to 3:30 p.m.; Friday, 7:30 a.m. to noon; and Saturday and Sunday, closed
- Telephone: +971-800-4488
WHAT IS THE RERA RENT CALCULATOR?
You may use the online RERA Rent Calculator to determine the increase in rent in the Dubai property market.
- Go to the Dubai Land Department’s website.
- Choose ‘Rental Calculator’ from the RERA Dubai calculator’s webpage and go to the service.
- Fill in the needed fields and then click calculate.
- The rent calculator will then show you the expected amount of increase in your renting fee.
HOW CAN I OBTAIN A RERA LICENCE IN DUBAI?
If you’re wondering how to obtain an RERA certificate in Dubai, here’s what you need to do.
- Visit the Dubai Land Department’s website.
- Register for a Trakheesi account.
- Enter your details and submit any necessary papers.
- Submit an application for an RERA licence in Dubai.
- Once accepted, you must pay using the preferred payment method.
- You will thereafter get confirmation of your registration.
HOW DO I BECOME A RERA-CERTIFIED AGENT?
You must go through this method to become an RERA-certified agent in Dubai if you want to win your clients’ confidence and maintain a solid reputation in the real estate sector.