The National - News

Should I self-manage my UAE property remotely or bring in specialist­s?

- MARIO VOLPI

Q I recently lost my job because of the Covid-19 pandemic and my family and I will soon be relocating to our home country. We bought a property in Abu Dhabi a few years ago and have decided to rent it out instead of selling it during these uncertain times.

However, we are unsure if it is better to manage the tenancy remotely or to engage a real estate agency to act on our behalf. What fees would we have to pay and what do we get in return in terms of management of the property? What would you advise us to do? DB, Abu Dhabi

A I would always advocate using the services of a profession­al management company to look after anyone’s properties during a tenancy agreement, whether they are a resident landlord or living abroad like you.

Managing the property yourself would, on the face of it, seem to be the cheapest option. However, in the long run you end up spending not only money but also precious time to sort out whatever maintenanc­e problems may arise. Being non-resident will add to this problem. I suggest you contact one of the many management companies able to look after your property properly.

With reference to fees, I suggest you shop around. Speak to the larger, more well-known agencies but also do not be afraid to engage with smaller companies.

The industry norm for management fees is 4 to 6 per cent and what they offer will vary from company to company. Most management companies should offer the following services:

• Pre-handover process

• Manage handover

• Organise tenancy agreements and rent collection

• Tenant move-in and changeover­s

• Utility connection­s and management

• Maintenanc­e and emergencie­s

• Remote IT systems that ensure the landlord is connected wherever they reside

• Organise property insurance

• Management reports

• Holding of monies/general float

While the above is not an exhaustive list, there will be companies that will do more than this, while others offer less.

I recently renewed my residentia­l lease in Dubai. The owner has changed the property management company. I handed over all my rental cheques for the year and other relevant documents to the old property management company, which also assisted in generating an Ejari certificat­e for my new rental contract. They handed over all documents to the new company.

My first rent cheque was due in January but it has not yet been deducted from my account. The new property management has also not sent me my copy of the rental contract. Should I be worried even though I have the Ejari?

I’ve been trying to reach out to the property management firm via their call centre and email, but they are taking for ever to respond. What should I do? SP, Dubai

Irrespecti­ve of whether a new owner becomes your landlord or someone else takes over the management of the property, the terms and conditions of your tenancy contract remain the same. I am sure that sooner or later the rental cheque will be cashed as the landlord will also no doubt be chasing the new management company. Just make sure you have enough funds in your account to cover this until it is cashed.

Having a legal and up-to-date Ejari certificat­e should also give you comfort. So whatever happens to the old or existing management company, it should not affect you at all.

Mario Volpi is the sales and leasing manager at Engel & Volkers. He has worked in the property sector for more than 35 years in London and Dubai. The opinions expressed do not constitute legal advice and are provided for informatio­n only. Please send any questions to mario.volpi@engelvoelk­ers.com

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