What are the essential elements of a lease agreement in Dubai?
As the case is when concluding any lease agreement, it is necessary to identify the key requirements that would make the contract valid and appropriate for both the sides, the owner of the place and the lessee. Here are the key components of a Dubai lease agreement:
Identification of Parties
The parties that it takes to sign the lease agreement should be well defined including the landlord and tenant. These are the full names, the addresses, and phone numbers of both the parties involved in the case. This mean that each of the parties involved is well identifiable in case of any follow up or development of the case.
Property Details
The leasing should contain a description of the property to be let as most of the landlords desire. This includes the location, area, and kind or nature of the common property as well as spaces for car parking, storage space or other facilities. Thus, this part has to be as accurate as possible in order to avoid future controversies concerning the state or the contents of the property.
Term of the Lease
The period allowed in the lease has to be agreed on in the lease agreement. This could the date that the lease begins and ends, dates for renewals, and the terms pertinent to early cancellation of the agreement. Unlike some states which have set standard lease terms at 12 months in Dubai it is differently depending on.
The key issues of the lease agreement include the amount of rental agreed upon, when this amount is due either monthly, quarterly or annually and the mode of paying the agreed amount of rental. It should also indicate any penalty for early payment or late payment or dishonor of check. It is here that there must be clarity when it comes to financial issues so that there will be no problems in this area.
Security Deposit
Information about security deposit must also be provided: the amount of such deposit varies and typically is equal to one month rent, and the terms as to when the amount shall be held and when deductions might be made out. This serves to safeguard the landlord from other possible losses and this helps the tenant to have a clear understanding of the financial obligations which are to be made.
Maintenance and Repairs
It should also state the roles and duties of the landlord and the tenant in as much as the maintenance and repairs are concerned. Usually, the landlords deal with large repair and structural work while the tenants are supposed to be in charge of minor repair and general maintenance.
Termination and Renewal
There has to be terms for cancellation or continuation of lease to be well articulated. Some of the key areas that are part of the share lease agreements are notice periods, which are mostly 90 days, reasons for termination that are acceptable, and how to renew the lease. This also makes both parties aware of their respective rights and responsibilities once the lease agreements has come to an end.
Lawyer/Law Firm | Contact Details & Address |
---|---|
Hadef & Partners |
Phone: +971 4 429 2999 Email: info@hadefpartners.com Address: 8th Floor, City Tower 2, Sheikh Zayed Road, Dubai, UAE |
Al Tamimi & Company |
Phone: +971 4 364 1641 Email: dubai@tamimi.com Address: DIFC, Dubai, UAE |
BSA Ahmad Bin Hezeem & Associates LLP |
Phone: +971 4 368 5555 Email: info@bsabh.com Address: 2101 Boulevard Plaza, Tower 1, Sheikh Mohammed Bin Rashid Boulevard, Downtown Dubai, UAE |
Afridi & Angell Legal Consultants |
Phone: +971 4 330 3900 Email: dubai@afridi-angell.com Address: Jumeirah Emirates Towers, Office Tower, Level 35, Sheikh Zayed Road, Dubai, UAE |
Clyde & Co |
Phone: +971 4 384 4000 Email: dubai@clydeco.com Address: Level 15, Rolex Tower, Sheikh Zayed Road, Dubai, UAE |
Governing Law
In the case of the lease agreement, the parties should include a stipulation that they are bound with the laws of Dubai and the UAE. By including this clause on the lease, it makes sure that any issue that may sometime crop up concerning the lease will have to be handled within the limits of the country’s laws on lease.
Participant | Contact Details & Address |
---|---|
Dubai Land Department (DLD) |
Phone: +971 4 222 2253 Email: info@dld.gov.ae Address: Baniyas Road, Deira, Dubai, UAE |
Real Estate Regulatory Agency (RERA) |
Phone: +971 4 222 2253 Email: info@rera.gov.ae Address: Baniyas Road, Deira, Dubai, UAE |
Dubai Municipality |
Phone: +971 4 206 4888 Email: info@dm.gov.ae Address: Baniyas Road, Al Rigga, Dubai, UAE |
Dubai Courts |
Phone: +971 4 334 7777 Email: info@dc.gov.ae Address: Al Rifa’a Street, Dubai, UAE |
Dubai Rent Committee |
Phone: +971 4 222 2253 Email: info@dubairentcommittee.gov.ae Address: Baniyas Road, Deira, Dubai, UAE |
Additional Clauses
It is essential to note that landlords and tenants tend to make further modifications and add clauses to meet each party’s needs or to respond to unique situations. These could include issues like sub leasing, pet policy, changes made on the property and many others. These clauses normally take effect when both partners in the contract accept to go by the provisions of the clauses.
Essential Elements of a Lease Agreement in Dubai Quiz
Quiz based on information from 95dubai.com