Do You Have Property in Abu Dhabi and are Looking to Leave the UAE?
If you own a property and need to leave the UAE for good (or for an extended amount of time), this will guide you through what you need to do before you leave. Remember your Property is one of your most important possessions, make sure it is looked after if you have to leave.
- How soon do you need to leave?
This is the most critical question you need to ask before doing anything. If you are pressed for time (or haven’t quite decided what you are going to do with your property), you should seriously consider if a Property Manager or a Power of Attorney (POA) id appropriate, see below,
- To sell or to rent?
As a property owner, this is the first thing you need to decide: what are you going to do with your property? But bear in mind, it usually takes longer to sell a property, you might not be able to find a deal as quickly as you wish before you leave the country. If this is the case, you might need to have a POA to help you handle all procedures.
- Do you have a mortgage?
Want to close your bank account immediately to avoid charges? Don’t be so hasty. You might need to keep your current account active if you have a mortgage on your property. Some banks charge 1% extra on mortgages for property owners living abroad; some require you to set up a separate account with minimum relationship balance to avoid charges. It will be wise to speak to your banks to figure out what’s the best for you to continue paying your mortgage (or even change a mortgage provider).
- Do you have tenants in your property?
If so, inform your tenant about your departure and make sure they have the means to get in touch with you. Make sure you have someone trustworthy to help cash the rent cheques into your account. Also, make sure you track the due date of the tenancy, give notice at the right time and to cooperate with leasing agents to help you lease out your property if it becomes vacant. Alternatively, you might consider hiring a trustworthy Property Manager who can help you keep track of everything and keep you updated with any developments.
- Pay your service charges
Make sure you have left someone to pay your service charges. Getting in arrears with these can affect the provision of services to your property.
- Dealing with your utilities.
Don’t forget to deal with your utilities just before you move out, otherwise, you’ll find it extremely difficult to deal with it from abroad.
- ADDC – pay off the balance and get an account clearance
- Chilled Water – pay off the balance and get an account clearance
- Gas – call your service provider for them to come into your property to disconnect the gas. If you want to close the account, you’ll need to contact them specifically for account closure.
- Do You Need a Property Manager?
Leaving the country is a big deal and you need to know your property is in safe hands. A Property Manager can:
- Liaise with your tenants over maintenance;
- Move tenants in and out;
- Lease out your unit;
- Deal with utilities, service charges and everything else that might need your attention,
Crompton Partners can do all this for you for as little as 4% of the annual rent of the property.
- Do you need a Power of Attorney (POA)?
If you need to leave the UAE and you need something significant done on your property (like having it sold, renovations, difficult tenants) then you may need to leave someone with a Power of Attorney on your behalf. Ben Crompton can do this for you, he was a lawyer in the UK and was regulated by the Law Society of England and Wales.
Email firstname.lastname@example.org or call 050 442 0182 for more details.
Call – +971 50 6145199