If you are a real estate broker handling an overseas landlord’s property portfolio in Dubai using a power of attorney (POA), you may be no longer entitled to sign lease documents on their behalf.
According to a Dubai Land Department executive, brokers legally appointed to manage property of landlords based abroad are no longer allowed to sign unified lease contracts to get an Ejari. The DLD says the property owner must directly sign the original lease contract. Brokers with POAs must now send the unified lease contract via courier to owners who cannot come to Dubai to sign new POAs.
“We are sending leases to property owners overseas for original signature and return. While somewhat cumbersome, the new rules ensure that lease terms entered into on behalf of the landlord are being confirmed by the landlord/landlady themselves by the action of their original signature,” points out Jason Hayes, founder and CEO of Luxury Property.
Hayes suggests that an electronic docusign system may be used. “There will follow some form of secure online system where unified lease contracts could be electronically signed by property owners abroad,” he concludes.
Source Credit: Khaleej Times