Most people believe that it’s only the rent per month that they will have to bear when renting an apartment in Abu Dhabi. However, this is clearly a misconception. There are numerous other expenses that are associated with the procedure of getting a property for rent in Abu Dhabi.
Some expenses you will have to bear at the time of renting, while some after you have moved in.
To make things clear for you, we have shed light on some expenses you will have to incur at the time of renting an apartment in Abu Dhabi. We have divided them into two sections for your convenience. Read on to know more:
Before Moving In
This is what consumes the major chunk of the total cost of rental apartments in Abu Dhabi. It is paid in the form of post-dated cheques. How many cheques you have to pay depends on the landlord. You can decide when negotiating the terms with them.
Having said that, it is important to note that these cheques cannot be canceled. Furthermore, if they get dishonored, you can face legal penalties.
The renter, at the time of securing a property, has to pay a non-refundable deposit. It is usually 5% of the value of the annual rent amount if the property is unfurnished. However, for furnished property, the initial deposit is 10%. When the tenancy agreement is signed, the deposited amount becomes refundable. Therefore, ensure that you get a receipt for the security deposit from the landlord.
This amount is paid in a single cheque. When the tenant leaves the property at the end of the contract, the amount is refunded by showing them the deposit slip.
Bear in mind that the landlord checks the condition of the property and various other things, such as outstanding bills, etc., before refunding the deposited amount. If you have made some modifications to the property, they should be in line with the tenancy contract. This is why it is of crucial importance that you read the contract thoroughly before signing on the dotted lines.
If you have hired an agent to find a rental property, it goes without saying that you will have to pay them for their services. It’s important that you hire the agent after thorough deliberation and consideration. Make sure they are experienced and have cultivated a good reputation in the Abu Dhabi property market.
In the UAE, tenancy contracts have to be registered via the Ejari system. The tenant is usually responsible for bearing the cost of this contract registration. However, in some cases, the landlord pays the fee. This should be decided at the time of signing the contract to avoid any conflict in the later stages. The fee for registering a contract via the Ejari system is AED 220.
In some cases, the owners’ association or property manager may require the renter to present a move-in permit. The tenant will have to apply for this permit and pay a small fee for this. If you have obtained this permit, you will be able to access service lifts, and the trucks carrying your luggage will be allowed to park closer to the building.
Similarly, some residential projects also allow buyers to obtain a move-out permit at the time of vacating a property.
Numerous utility deposits are required to be paid before moving in. This includes Abu Dhabi Distribution Co chargers for setting up electricity and water meters, and internet/telecommunication connection costs, etc. Some of these utility deposits are refundable.
After Moving In
This is a list of expenses you will have to bear after you have moved into your rental apartment:
You would need to make some minor tweaks to the property after moving in to make it more ‘liveable’. Similarly, if the property is not furnished, you will have to get new furniture and other essential items. All this can cost substantially. Therefore, it’s important that you account for these expenses.
Also, be mindful that some landlords may not allow you to make any modifications to the property. You will have to obtain their permission beforehand.
In most cases, community fees and major maintenance charges are covered by the property owner. The tenant is responsible for bearing minor maintenance and service issues. Other than that, if there is damage caused to the property because of the renter’s negligence, they will be responsible for its repair.
Misc. Community Fees
Not every community in Abu Dhabi has the same set of rules. They vary from area to area and building to building. Furthermore, some may charge extra for pet parks or additional parking spaces. Make sure that you know about these regulations and charges before selecting your rental apartment.
The more you know, the better decision you take. So, take every factor discussed above into account when looking for a rental apartment in the capital city and make an informed decision.