Renting fee structure you must know before getting a property in Abu Dhabi
Are you ready to make your move to Abu Dhabi? There’s no denying that it’s the UAE’s modish and high-tech capital. With stunning natural beauty, pristine beaches, world-class retail outlets, and renowned golf courses, it’s a welcoming place for every taste and budget. However, when it comes to seeking rental properties in Dubai or Abu Dhabi, the costing is trickier to understand. That’s why acknowledging them is imperative before mounting on the renting bandwagon.
To make the process easier, we’ve gathered all the basic costs you need to know as a tenant, ranging from government fees to utilities. Let’s delve further into the details below.
- Tawtheeq and Municipality fees
Tawtheeq is an established system launched by the government of Abu Dhabi to protect the rights of both tenants and landlords. The module records all the rental transactions and makes it hard for landlords to rent the properties to unlicensed tenants.
While registering leasable properties with Tawtheeq for the first time, the landlord is responsible for making the payment for the leasable registration unit. Following the registration with Tawtheeq, the tenant must pay the municipality fees.
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- Abu Dhabi Distribution company fee
After the Tawtheeq registration of the tenancy agreement, the renters can reflexively be registered to the Abu Dhabi Distribution Company. If you can’t complete the registration, you can also finalize it over a call. However, as a tenant, you’ll have to pay the deposit with the first bill.
- Commission fees for the Real estate agent
Looking for a perfect home for your troop, but by hiring a professional real estate agent, you can pull this off easily. Real estate agents tend to arrange all the potential listings for you, negotiate with the landlord regarding rental prices and payments, and process all the documentation. In return, they charge a decent commission amount, yet it’s advised to settle on the fees beforehand.
- Rental amount and plans
The rental amount of your home in Abu Dhabi relies on the location and area of the property. While landlords in some communities require a yearly amount, others choose the monthly payment system until the rental contract expires. It would be wise to sign off the latter payment plan since it keeps changing from time to time.
- Telephone and internet service fee
Internet and phone services are more than a necessity in modern homes. For installation purposes, tenants can opt for Emirates Telecommunications or Emirates Integrated Telecommunication Company. Both the service providers have got their roots spanned throughout the Emirates. However, the pricing will range on the package that you’ll choose.
- Security Deposit fee
A security deposit is submitted to the landlord before moving into the property. This fee ensures your loyalty and covers any damages while you live on the property. With that said, it’s best to consult your real estate agent and discuss the considerable security fee and whether it’s refundable or not.
Before seeking Abu Dhabi property for sale or rent, it’s important to understand the fee structures. It’s because there’s diversity in renting, and grasping every concept will make the entire experience rewarding.