In the UAE, there are two types of licenses for renting out apartments: Long Term License (for rentals of no less than 1 year, governed by the Land Department), and Vacation Homes License (for rentals of any tenure from one day to a year, governed by the Ministry of Tourism)
StoneTree is proud to have both licenses to serve our clients. Very few companies in the UAE hold the Vacation Homes Licence.
Long-term lease implies legally binding contractual commitment (Ejari). The owner relies on the tenant's decency. If the tenant is unable/unwilling to pay or has other ill intent, that tenant can be evicted only through court.
In case of a short-term lease, the apartment retains the vacant status, providing the flexibility to cancel the contract within 3 days to 2 months (depending on the reason for cancellation) - without any penalties.
The owner or his/her family members, friends or colleagues, are free to reside in the apartment for any desired period.
The property's high liquidity is assured by: absence of a long-term (Ejari) burden; flexible process of viewing the property for potential buyers or investors; historically above market average rental income.
Weekly inspections and maintenance, ensuring the apartment is in pristine condition, in accordance with DTCM standards.
The owner avoids a situation where the property stays idle and does not bring income
We give a guarantee on income from the objects recommended by us.
The owner is required to fully furnish the apartment, in accordance with the Department of Tourism standards.
* furnished apartments cost 50 000 AED more expensive
1. We buy furniture for your apartments at our expense
2. Instead of buying, you can rent furniture
Payment is made in advance for the period of one month to one year. However, by law, the owner can administer no more than two months' rent, since the tenant can unilaterally terminate the contract by proiding a two-months' notice.
There is no need for furniture and interior
Payment is made in advance for the period from one month to a year, however, according to the law, the owner has the right to administer funds for a period of not more than two months, since on the part of the tenant a long-term contract can be terminated on a unilateral basis with two months' notice.
Highly cumbersome to terminate a long-term contract (by law, can happen in two cases: the owner is selling the property or intends to reside there - both with a minimum one-year notice). Strict and costly penalties for non-compliance.
Long term contract is a burden on the real estate object in the event of sale. A minimum one-year notice to the tenant is required before the property is handed over to the new owner.
Irrespective of the impact (damage) from long-term uninterrupted use of the property, the security deposit from the tenant to cover maintenance costs is capped at only 10% of the contract value.
A personal cheque is not cash - it is merely a declaration of future payment. Issues with cheque validation are common. Disputes can be settled only in court.
Flexible solution whereby the owner retails full control over property management
The owner is supported by a licensed professionals with great reputation and over 7 years of experience
The possibility to obtain a higher rental income than in the long-term market
Regular monthly rental income
We build long-term relationships with our clients and value our reputation as a trusted advisor in all matters of property management in the UAE.
When preparing a deal, we take responsibility for delivering best, predictable results. Our clients become our friends
Dedicated specialists at each stage: investment consultants, analysts, lawyers. No "one man show" to do all the work
We take our commission only upon delivering results
The company is fully licensed to service the complete cycle of real estate transactions
We take upon ourselves all cares - renting, repair, service, control.
Short-term and long-term renting
Guaranteed condition of the apartment «5 star standard»
The ability to receive rental income in parallel with the sale
Apartments are evaluated for availability
of all that is necessary to start the process
work according to the DTCM standard.
All the necessary things are bought
and various defects are eliminated.
Apartments are registered in the system
Dubai Tourism and Marketing. The
contract for property management is signed.
After the registration of the DTCM,
StoneTree gets permission
on advertising of apartments.
The owner receives income
and monthly reports.