A rent free period is period of time during your lease where you don't have to pay any base unit rent at all. Rent free period kicks in at the start of the lease and does not affect the base headline rent.
Service charges is payable by the Tenant to the landlord for the services the landlord is obliged to provide under the terms of the lease. They will be a variable amount from year to year depending on the costs incurred. Service Charges can include: Security and front-desk Services, Maintenance and repairs to shared areas, such as common stairwells and corridors, elevators, community charges and other charges to cover the fees with running the property operations.
Your first rental instalment is due in advance on or prior to Lease Commencement Date and is offset from your future payment. In addition, service charges applicable for the grace period is due at the start of lease. Remaining instalment are due as per the dates mentioned in the payments section of your lease agreement.
All payments are in made in favour of the Landlord. We do not accept cash transactions. Post dated cheques have to be handed over on or prior to signing of lease for Rent Year 1. Tenant can opt to pay remaining instalments via the below payment modes:
• Company cheques
• Personal cheque of authorised signatory (indemnity letter applies)
• Direct bank transfer
If a lease offer is signed on basis of a DIFC License application and should the application be rejected by DIFC, subject to receipt of proof of such rejection the security deposit amount paid towards a unit reservation is duly refunded to the tenant in full. However, should the tenant decide to not proceed with the lease after signing of a Lease Offer for reasons otherwise the deposit is forfeited.
Provided that required documentation is completed and Lease Agreement is signed by both Parties, our Team will schedule a Move-In Handover Meeting to complete Move-In formalities on the Lease Commencement Date subject to receipt of initial dues and payments.
Lease registration at DIFC is done by the Landlord on tenant’s behalf on lease commencement and after completion of handover formalities. Fee towards lease registration is payable by the Tenant at no additional mark-up fee from the Landlord. Lease registration approval takes approx. 1 working day after which DIFC issues a Lease Certificate.
A fit out deposit is a holding cheque paid by the appointed fit out contractor of the tenant at the start of fit out process and is duly returned back upon completion of fit out works subject to approval of fit out works from the governing authorities.
A fit out co-ordination fee is one-time fee charged to the tenant and is usually a cost associated with services provided during the fit out such as review of the drawings, NOC from Landlord, inspections at various stages of fit out including final inspections.
Kindly contact our Leasing Team at the Office located within Central Park Towers and we shall assist you in finding suitable options.
For all other post-handover questions, please refer to Tenant Handbook and contact our Property Management Office.