Property Management Contract
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.