Modify Property Management Agreement

Description

Banks or Property Management Companies (PMC) can initiate this service on DARI to modify the Property Management Agreement with a possessory mortgage between the bank and owner or PMC.

Required Documents

• N/A

Business rules

• Only banks or Property Management Companies (PMC) can initiate this service.
• The bank, property, and PMC should not have any blocks.
• The bank and property must have an active possessive mortgage contract.
• PMC should have a valid trade license.
• The property must be enrolled in Tawtheeq.
• The property must not have another existing active PMA.
• The property should be ready, not off-plan.
• Only active contracts can be modified at any time during the period of the PMA.

Service Fees

Modify Property Management Agreement Fees = Free of charge

Electronic Administrative Services Allowance Fees = AED 75 ( excl. VAT 5%)

Application journey

• Start the application through the available channels.
• Select the contract.
• Modify the properties.
• Assign permissions.
• Enter the contract amount.
• Submit the application.
• The application will be forwarded to the designated parties for approval.
• Pay the applicable fees.
• Download the contract and payment receipt.

Payment methods

• Your Wallet
• Credit/Debit card

Service channels

• Dari Website
• Dari APP
• ADREC at Your Place
• ADREC Trustee Office

Service Output

• Property Management Agreement (PMA)
• Payment Receipt