Dubai has become an investment hub with many investing opportunities in the real estate market. Holding and managing multiple properties can become overwhelming. Speaking of property management, real estate management companies registered with the Dubai Land Department (DLD) provide all sorts of assistance.
Since multiple lucrative investment opportunities are available, property owners can multiply their assets and reduce the workload by hiring property management professionals. To regulate the relationship between owners and property management companies, DLD has initiated a service for contract registration.
Let’s go through the details about registering and renewing a property management contract in Dubai.
REGISTRATION AND RENEWAL OF PROPERTY MANAGEMENT CONTRACT
DLD regulates the real estate industry in Dubai. That said, the Ejari system by DLD helps manage the contracts in Dubai. It allows homeowners and property management companies to register and renew their property management contracts in Dubai.
The users must register on the Ejari system for the property management contract registration or renewal in Dubai. Here are all the steps that property management companies in Dubai have to follow to register or renew a property management contract.
REQUIRED DOCUMENTS
The users need to register or renew their Ejari details before their property management contract renewal or a registration in Dubai. Homeowners need to request an Ejari account by submitting the following documents:
- Emirates ID
- Landlord’s property ownership number registered with the DLD
Property management companies in Dubai also need to register on Ejari to use the system. They need to submit the following documents:
- Commercial licence number
- Emirates ID of the property management company owner
To register the contract between the property management company and the homeowner, they need to meet the following requirements:
- Copy of property management contract between the homeowner and the real estate company
- The company must have a licence to manage the real estate leasing
- Contract must be signed by the homeowner or someone with the power of attorney or a management company
- The company and homeowner must be registered in the Ejari system
PROCEDURE
After ensuring that you meet the above-mentioned requirements, you must follow the procedure to register and renew the contract in Dubai:
- Customers need to visit the Ejari system
- Register their user accounts on Ejari (if not registered) or log into their accounts
- Choose the register and renew the property management contract service
- Fill in the complete details and submit the required documents
- Submit the application form
- Customers will receive an email after the request for approval
The procedure takes around 1 hour and 35 minutes to complete via the Ejari system. After the procedure is completed and the application is approved, customers will receive a registered management contract.
FEES
The property management contract renewal or registration is a free service by the Dubai Land Department.
That wraps up the complete process of the registration and renewal of the property management contract. The process is quite easy and convenient. Besides, it is free of charge. When you rent an apartment in Dubai, you can hire a property management company to deal with the rent collection, Ejari registration and renewal, and also maintain the apartment.
Besides, if you have a real estate management company, you can sign up on the Mollak system to manage jointly-owned properties. Additionally, it is an essential tip for overseas property investors to hire a property management company or manager to deal with the maintenance, repair, tenant’s concerns and rent collection in Dubai.
If you live or invest in other emirates, you can hire a property management company in Sharjah. And, you can also find a property management company in Abu Dhabi to administer and maintain your home appropriately.
Stay tuned to the UAE’s leading property blog to learn processes about real estate contract registration and renewal.
