A lot of property buyers believe that owning and leasing property is too troublesome and costly, especially when your property is abroad. Maybe it is true in other countries, but not in Dubai.
Here, property owner is not only spared from income tax, but also can save on service charges, even if his property is in a high-end luxury community. IMEX Real Estate provides professional expert assistance in managing your Dubai property continually monitoring the market for the new benefits for our customers.
Among the latest special offers in this regard Damac’s service charges discount is quite noteworthy. One of the largest developers and property operators in Dubai, Damac offers a 10% discount on service charges to all its property owners.
Usually, service charges payments for residential and retail property in Dubai, including maintaining, DEWA utilities, management, and insurance, and master community fees, are collected on a quarterly basis at the beginning of each quarter in advance. In case of delayed payment management company will charge a penalty of 12% per annum (1% per month) for each day of delay, which will be re-calculated once payment has been made to cover only the monthly interest rate of 1% on the months the payments were late for. However, Damac customers got an exclusive opportunity to reduce their service charges for the year 2016 by 10% of discount.
For reference: service charges rate in Emirates Gardens 2 by Damac currently stands at AED 10.31 psf per annum, while after the discount applied this amount may be reduced down to AED 9.28 psf per annum saving a substantial amount of money on the per annum basis. These calculations are relevant for the Damac property units in other residential communities as well.
It’s hard to keep your finger on the pulse of Dubai real estate changes, especially when not residing in UAE for long. That’s why, IMEX Real Estate is there for you to take care of all the utility and maintenance payments, service charges, of submitting all necessary papers in order to get discounts, and to manage a thousand other troubles associated with property owning and leasing in Dubai. With our Property Management Service you’ll forget all the problems with tenants, paying bills and keeping your apartment, office or house in order. We will handle all these issues for you.