Thursday, March 18, 2010

RERA mandates online registration of tenancy contracts in Dubai

All tenancy contracts in Dubai must henceforth be registered online with Real Estate Regulatory Agency (RERA). Landlords or tenants failing to do, will not be protected by the law, the officials at Dubai's RERA have warned.

The announcement is based on Law No.26 of 2007, which regulates the relationship between landlords and tenants in Dubai.

The tenancy contracts for all Dubai properties should be registered at RERA's new Ejari online portal, said a statement by the Agency.

Tenants failing to comply with the new ruling should make note that their tenancy agreements fall beyond the protection offered by the law, and the government agencies will not be in a position to enforce the provisions of the agreements that they enter into, the Agency said.

According to the Director of RERA's Regulatory Department, Mohammed bin Hammad, the new announcement will curb violations and malpractices happening in the rental sector.

The law aims to ensure that all tenancy contracts, and parties entering into such a deal are registered and their details recorded. This will help in increasing market transparency, and making Dubai market one among the best regulated markets, Bin Hammad said.

He also added that the online registration system will also help RERA in collecting an accurate image of Dubai rental market, which plays a crucial role in influencing the future of the sector, based on supply and price levels.

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