Real Estate Attorney
With a growing number of organizations moving away from a traditional office setup and opting for complete or partial remote working options, people have started looking into co-working and co-living spaces. Apart from obvious perks such as reduced rentals, increased flexibility and access to amenities, these setups also help in the building of communities of like-minded people. As a result, Dubai has seen a stark increase in co-living and co-working spaces across the city.
Impact on real estate law
The new trend has had a considerable impact on Dubai’s real estate law. The influx of expatriates choosing to work out of Dubai has increased, thanks to the option of working remotely, hugely benefiting landlords in Dubai.
Legal requirements for co-living spaces
Dubai Law No. 26/2007 on the Organization of the Relationship between the Lessors and Tenants in the Emirate of Dubai governs leased lands and properties in the Emirate. The law states that the rights of the landlord and the tenant will be governed by the tenancy contract. The law also states that a tenant can sublet premises to third parties after obtaining a written consent from the landlord. If a property is sublet without the consent or knowledge of the landlord, and against the terms of the lease contract, the landlord has the right to evict the tenant.
In case of co-living spaces, the landlord may directly lease the property to multiple tenants specifying the conditions of using the property in the tenancy contract. A tenant can also sublet a part of the property to another individual, with the written consent of the landlord. Thus, co-living spaces largely depend upon the tenancy contract between the landlord and the tenant(s) as long as all applicable regulations of appropriate authorities, building or community management, or association are complied with. Real estate lawyers in Dubai can help landlords and tenants structure these agreements legally and avoid disputes.
Legal requirements for Co-Working Spaces
Setting up a co-working venture in Dubai is a profitable option. An increasing number of entrepreneurs are choosing to work in co-working spaces due to the many benefits. It offers increased networking opportunities, access to amenities and a refreshing working environment. The option of freelance visas and increased opportunities and incentives to innovators and entrepreneurs provided by the government also contribute to the popularity of co-working spaces. Co-working spaces may be set up in mainland Dubai or in the freezone areas. Accordingly, one will be required to obtain the appropriate trade license and lease an office space suitable for co-working. For guidance of commercial property, can consult the real estate attorney in Dubai.
Conclusion
If you are looking to rent out co-living or co-working spaces, it is recommended that you consult a real estate lawyer Dubai, to ensure compliance with the contract and the local laws.
