Unified lease contract launched in Ras Al Khaimah

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Ras-Al-KhaimahThe Ras Al Khaimah Municipality has introduced a new unified lease contract, considering it the official rental document as accredited in all government agencies in the emirate, Emirates24 reported.

The Municipal Department in Ras Al Khaimah has adopted this new unified lease and it obliges all parties to the rental relationship – tenants and lessors, as well as property owners and real estate offices, to do the same.

The Ras Al Khaimah Municipality, in an announcement published in all local newspapers, said that the new unified contract is necessary for the completion of official transactions in all government agencies, including the Department of Economy, General Directorate of Residency and Foreigners Affairs, RAK Courts and the Federal Authority for Electricity and Water.

The new unified contract for leasing is available in the main building of the Municipality of Ras Al Khaimah and a fee amount of Dh50 will be levied, it said.

Ras Al Khaimah witnessed a 23 per cent growth in rental prices in 2013, according to real estate consultancy Asteco. Annual rent for a two-bedroom apartment in Ras Al Khaimah has gone up to Dh50,000 per annum.

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Reading Time: 1 minute

The Ras Al Khaimah Municipality has introduced a new unified lease contract, considering it the official rental document as accredited in all government agencies in the emirate, Emirates24 reported.

Reading Time: 1 minute

Ras-Al-KhaimahThe Ras Al Khaimah Municipality has introduced a new unified lease contract, considering it the official rental document as accredited in all government agencies in the emirate, Emirates24 reported.

The Municipal Department in Ras Al Khaimah has adopted this new unified lease and it obliges all parties to the rental relationship – tenants and lessors, as well as property owners and real estate offices, to do the same.

The Ras Al Khaimah Municipality, in an announcement published in all local newspapers, said that the new unified contract is necessary for the completion of official transactions in all government agencies, including the Department of Economy, General Directorate of Residency and Foreigners Affairs, RAK Courts and the Federal Authority for Electricity and Water.

The new unified contract for leasing is available in the main building of the Municipality of Ras Al Khaimah and a fee amount of Dh50 will be levied, it said.

Ras Al Khaimah witnessed a 23 per cent growth in rental prices in 2013, according to real estate consultancy Asteco. Annual rent for a two-bedroom apartment in Ras Al Khaimah has gone up to Dh50,000 per annum.

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