Renew Property Management Agreement

Description

Banks or Property Management Companies (PMC) can initiate this service on DARI to renew 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 an existing active PMA.
• The Property should be ready, not off-plan.
• Active or expired contracts can be renewed.

Service Fees

Renew Property Management Agreement = Free of charge

Electronic Administrative Services Allowance Fees = 50 AED ( excl. VAT 2.5%)

Application journey

• Start the application through the available channels.
• Select the contract.
• 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