Renewing a property lease comes with different pitfalls. If you are not careful, you might end up losing money. To ensure you will not fall into any of these pitfalls, you should work with property lawyers or business consultants in Dubai.
However, for the meantime, let me share with you some of the pitfalls you should avoid when renewing a property lease in Dubai.
PITFALL NO. 1: NOT READING THE CONTRACT
Creating a contract of terms and conditions is not just for formality. It outlines both the responsibility of the tenant and landlord.
One of the most common mistakes people do is they only read their contract carefully after an issue arises. While it is true that reading the fine prints of a contract can be very tedious, it is the best way to ensure that you understand the agreement you are about to enter.
PITFALL NO. 2: WORKING WITH THE WRONG PROPERTY AGENT
Dubai’s real estate industry continues to experience incredible growth for the past few years. Thus, there have been a lot of property agents who would like to take advantage of this growth. However, it has been a mixture of competent and inexperienced agents.
For this reason, you need to be careful in choosing whom you are going to work with. If need be, look for one of the reliable Dubai Law firms to discuss your situation.
In spite of Dubai’s effort in regulating the real estate industry, there will still be hundreds of property agents who might not work according to the rules. Be sure to find a property agent who has a trade license and RERA certification.
Agents who give too good to be true offers should be taken cautiously. Those who do not have any physical office address or landline number should be considered as a warning sign.
