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14 March 2010

Online registration must for lease contracts: Rera


Mohammed bin Hammad
(Real Estate Regulatory Agency) "Today's announcement puts in place a key mechanism that will go a long way towards stamping out malpractice in the rental sector. The aim is to ensure all lease contracts and the parties to such agreements are registered and the details recorded. This will lead to the Dubai rental market becoming one of the most transparent and accountable anywhere and, at the end of the day, one of the best regulated... At a different level, full implementation of Ejari registration will enable the authorities to construct a full and accurate picture of Dubai's rental market."
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Ejari is a system that is governed by RERA to make registration of rental / lease agreements easy and accessible to Owners and Real Estate Management Companies of various categories. The Ejari system provides a full portfolio of services beyond registering the initial lease agreement. Renewals, cancellations, transfers and terminations can all be logged.  read more
 
At a different level, full implementation of Ejari registration will enable the authorities to construct a full and accurate picture of Dubai's rental market which will play a crucial role in its planning for the future of the sector and its ability to influence such factors as the supply side of the market and ultimately the level of prices.

Ejari will ensure rental agreements are fair and transparent to the parties involved and that their terms and conditions are given full weight. The launch of Ejari shall bring the Dubai's rental sector to be one of the best regulated rental market in the world and best practice in the norm across Dubai's rental sector.  read more