Those among us who are close to the real estate industry know it
very well about the incidents and some fraudulent cases that are
repeatedly reported. This informs the uninformed about the booby traps
that this industry holds. So it means selling and purchasing a property
is not as easy as falling of a log. It requires careful consideration in
each and every step that leads to the completion of the transaction. In
case of renting property out to others, the process of entering into
the contract or agreement of tenancy is not difficult though. However
the problems arise later on. While in case of transfer of property, the
process is difficult but as soon as the transaction is completed, there
is nothing complicated arise afterwards.

In order to rent property in Dubai the owner of the
property is usually concerned with a small number of questions. The
owner is mostly concerned with the number of family members of the
tenant. This is necessary and imperative especially in cases where the
property consists of apartments which mean that only a limited number of
persons are required to settle in. however in case of rentals of
bungalows the number of family members of tenant may increase. The
owner, after getting satisfaction in respect of the number of households
of the tenant, goes a step further and asks about the willingness of
the tenant to submit the deposit. The amount of deposit is refundable at
the time when a tenant vacates the house. This deposit amount is
actually a sum of twelve months of rent and submitted before the tenant
takes possession of the property.

Dubai properties sell like hot
cakes provided that you take care of the property and every now and
then spend some bucks in the maintenance and focus towards upgrading it.
Usually these facts are ignored by the owner especially in case where
the sole intention of the owner is to find a good tenant making rental
payments on time. The owner also wants its tenant to occupy the property
on long term basis. In case of commercial properties, the owner is
mostly concerned with letting it out to some multinational companies.

There are several reasons for this wish of the owner. Firstly it
assures the owner that a good rental amount can be obtained and
furthermore the rentals are paid in advance for half a year. One more
thing that differentiates and outweighs any other factor is the long
term assurance on the part of the tenant company of using the property.
Like for example in cases where the property is taken by a bank to
establish a branch of it, it is almost unlikely that the bank will
withdraw from the tenancy contract. The branches of the banks are opened
by taking into account the needs of the people in the surrounding
areas. Further, it any branch is withdrawn without any outright reason,
it will help the competitors to spread ruthless rumors about the said
closure. This will impact the image and resultantly the revenue of the
bank as a whole. So in a nutshell, it must be assured that a long term
contract is entered into so as to avoid any risks associated with
vacating a property without any sufficient and justifiable reasons.