DTCM invites applications for holiday homes licenses

Dubai (WAM): Dubai's Department of Tourism and Commerce Marketing, DTCM, yesterday announced commencement of its receiving applications for licenses to become an operator of holiday homes. The announcement follows the December 2013 issuance of Decree No. 41 of 2013, concerning the regulation of the Holiday Homes Market, by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. From 15th June 2014, the operating of residential properties for use as holiday homes will be restricted to licensed operators only. The first phase of applications is restricted to entities which intend to be an operator of a portfolio of properties, with the minimum number of properties being 20. Home owners who wish to rent out their property as a holiday home will be required to use the services of a licensed operator, with their property becoming part of the operator s portfolio. Khalid bin Touq, Executive Director of Licensing and Classification, DTCM, said, "Through regulating the use of properties as holiday accommodation, the objective is to broaden the range of options available to visitors, while ensuring that the high standards of quality for which Dubai is known, are maintained. Visitors booking their accommodation through licensed operators will have the assurance that the accommodation they are booking has been classified in line with global best practices, while owners of properties will benefit from the expertise and marketing capabilities of the operator through whom they rent out their property." The first stage of the trade license application process is to apply for initial approval. Upon successfully receiving this, the applicant will have a maximum of three months in which to satisfy the requirements for the final license and consequently become a licensed operator. A holiday home is classified as furnished accommodation which is rented as a whole unit on a daily, weekly, monthly or annual basis without the issuance of a regulated tenancy agreement, and should be registered with DTCM. – Emirates News Agency, WAM