July 8, 2015

Relocating to Abu Dhabi: New Property Leasing Procedures

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Jul

08

Relocating to Abu Dhabi: New Property Leasing Procedures

Abu Dhabi in the United Arab Emirates is becoming an increasingly frequent destination for international assignees. With demand for residential properties in the most popular expatriate areas outstripping supply, there is fierce competition for homes. This landlord-driven market has led to some property management companies implementing new leasing procedures that include tighter timelines for deposit and rent payments.

Some of the new requirements include:

•  Security deposit and 2.5% tenant assistance fee to be paid before an offer letter is issued

•  Full rent to be paid within three days of the offer letter

•  Offer letter valid for three days, in which time all payments (deposit, tenancy assistance fee, and rent) need to be made.

The actual requirements vary, and some companies are warning that if payments are not provided within the specified timeline, the property will be returned to the market.


Advice for Relocating to Abu Dhabi

Relocating to Abu Dhabi: New Property Leasing Procedures With too few  properties available to meet current demand, companies and their relocating assignees should:

•  Understand that the property leasing market in popular expat areas is very fluid and fast moving

•  Plan ahead to ensure sufficient time for property finding, given the shortage of accommodations

•  Set realistic expectations about the market with assignees so they do not narrow their choice of housing or neighborhood

•  Make decisions about housing choice quickly to secure a property

•  Act promptly to pay deposits and rent. Failure to do this could result in the property being returned to the market.

We advise that you work closely with your Cartus team to ensure your requirements in Abu Dhabi, and those of your relocating assignees, are not compromised. If you require any further information, please do not hesitate to contact your Cartus representative.

Picture of Agata Bondarczuk

Posted By

Agata Bondarczuk

About Agata

Agata joined Cartus in 2012 and is a Supply Chain Manager, working with Western European suppliers. Her focus area is performance management and supporting supply chain’s sourcing and pricing processes.

 

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