Everything you need to know about RERA

Real Estate Regulatory Agency (RERA) is the regulatory arm of Dubai Land Department (DLD). It sets policies and makes plans for Dubai’s property sector to boost foreign investments and settle disputes between tenants and landlords. RERA has administrative independence, enjoys its own financial system and secures full legal authority to regulate Dubai’s realty.

Another function of RERA is to offer a transparent and effective legal framework to everyone related to the real estate sector of Dubai. The agency works hard to develop an on-line society for buyers, property developers and real estate investors and also facilitates supporting sectors such as the insurance, law firms and banks in order to boost mutual cooperation.

Its responsibilities include licensing real estate agents operating in Dubai, regulating and supervising the owners’ associations managing various buildings in the emirate and registering and regulating rental agreements. The agency also publishes studies for the property sector, regulates realty advertisements in the Mass Media and manages property developers’ trust account. Apart from licensing all real estate activities in Dubai, RERA also regulates and licenses real estate exhibitions along with working hard to enhance national participation in emirate’s realty sector.

The agency works in harmony with the DLD and together they have launched many smart applications to ease the life of everyone involved in the property business of Dubai. Here are five such real estate technologies DLD featured at the 36th edition of GITEX Technology Week 2016.

Smart Pay Service

The Smart Pay Service is a new fee payment method developed by DLD. It allows people to pay the required procedure fees directly using a smartphone app. Through secure government channels, the app allows people to pay through different methods such as Credit Cards, Wire Transfer (From Limited Banks) and NQOODI Wallet. Smart Pay Service also saves user’s payment history, multiple credit cards and even the wallet balance.

Dubai Brokers

Dubai Brokers another DLD introduced smart application provides people with accurate and real-time information about licenced property brokers in Dubai and their offices. It also ranks brokers per their performances and efficiency and provides details about projects a particular broker specialises in along with the number of transactions he/she has completed. Dubai Brokers app also verifies ownership certificates and thus it increases efficiency, speed up service delivery and reduce costs paid by the people.

Investment Map Website

Investment Map portal offers an integrated set of applications designed to offer people everything they need to make an educated investment decision in Dubai. It also features tools that ease the decision-making process and allows people transact online through secure government channel.

Ejari

Ejari is DLD’s smart leasing management application that specialises in the management of leasing operations. Property management companies, property owners and even the owner’s representative can utilise this application to manage the leases from anywhere and at any time. It also reduces cost and time required to complete the registration of rental contracts and allows people to simply register their tenancy contracts online.

Smart Judge

The Smart Judge app educates all parties involved in a rental contract about their legal rights with respect to EJARI and informs them whether they can file a judicial case or not. It also offers virtual judgments as a result of a final request for legal advice and provides free legal consultancy on the rental business in Dubai.

RERA has set also definitive laws to regulate the relationship between the landlord and the tenant. These laws also outline each party’s roles and responsibilities and are designed to minimise the frequent disputes and misunderstandings between tenants and property owners. We will soon be releasing a detailed article summing up Law No. 33 of 2008 in order to help people better understand everything they need know when renting a property in Dubai. So stay tuned to our blog.