Landlords can contact Emirates Properties directly for their Leasing Needs of their properties which can be Residential or commercial buildings, Lands, Shops, Showrooms, Warehouses, Labor camps, Villas, Malls etc. Landlords can choose any of the following options to lease their property though Emirates Properties.
Lease and Sublease Contract is an agreement made between the landlord and Emirates Properties. It is a hassle free financial guarantee to the landlord. Emirates Properties pays the landlord for the property for a fixed period of time in single payment at the time of signing the agreement. Most landlords prefer a Lease and Sublease Contract agreement as it requires no management involvement. Emirates Properties will undertake the full financial risk for generating income by subleasing the property. Also Emirates Properties undertakes the entire facility management and the following expenses of the building:
Property Management Contract covers complete lease management services. Emirates Properties undertakes marketing, administration and facility management of the property on behalf of the owner. The landlord will have to pay an annual management fee which is typically starting from 5% of the income and goes up depending upon the size of the property to be managed. All the expenses incurred for the building including the annual maintenance contracts for AC, Building management systems, Lift, Swimming pool, Firefighting systems etc. and other expenses for general maintenance, staff salary, Civil defense fees, DEWA landlord service payment, building insurance etc. will be covered from the income of the building within the limits specified by the landlord. There will be a proper accounting for the building income and expenses and the balance sheet will be provided to the Landlord at the end of each year. Emirates Properties will handle all the inquiries, calls and customer relationship management regarding the property. And Also the contract and Ejari will be provided by Emirates Properties to the customers. But the rental and security deposit cheques will be collected in the landlord name and cheques will be delivered to the landlord or it will be deposited to the landlord account according to his discretion. In case any cheques are not honored, Emirates Properties will folowup for the payments and will file case on landlord’s behalf if necessary. In this type of contract, Landlords will have full financial control of his property and peace of mind.
Landlord’s does not have to pay for this service. Once a new property is constructed and ready for Leasing, Emirates Properties can undertake the entire Marketing responsibility and will rent out all the units in the property within a stipulated time by advertising the property though both print and online Medias. Emirates Properties will collect 5% agency fees from the tenants and will appoint our own staff for accompanied viewing, key handover, Pre-lease inspection etc. Emirates Properties will collect the rent and security deposit in favor of landlord and will prepare the contract between landlord and the tenant. Once the entire property has been rented out, we will issue a letter to all the tenants informing to contact the landlord or his representative for further communication regarding, maintenance, renewal, termination of contract etc. In this method, Landlord’s does not have any expense and their property will be rented out soon and they don’t have to set up their own marketing team and later can manage the tenant affairs directly.