UAE: Owners and developers will bear the main costs of property damage after extreme weather - News | Khaleej Times.

Sharjahare beginning to restore services to tenants and returning their properties to pre-flood levels. Many tenants affected by last week's extreme weather have received assistance from companies and owners. However, those with minor damage are turning to maintenance companies for repairs. BestdevelopersDubaiEmaar Properties, MAG, Damac Properties, Nakheel, Dubai Holding, Union Properties and Dubai Investment Park provided free services to tenants affected by the storm. Residents in the main areas of the property inDubaiBusiness Bay, Downtown, Jumeirah Beach Residence (JBR), Jumeirah Lakey Towers, International City, Palm Jumeirah, Damac Hills, Dubai Marina, Mudon, Discovery Gardens, Remraam, Arabian Ranches and many others will benefit from these initiatives, which are supported by the government and private sector.developers.

By law, owners are required to maintain the property unless otherwise provided for in the lease agreement. In Sharjah, the maindeveloperArada also announced major initiatives to support local residents. Arada in partnership with the Social Services DepartmentSharjahwill provide housing for up to 3,000 people affected by the floods, who will be housed at the Nest complex in Aljada. Priority is being given to vulnerable members of society, especially children, the elderly and people with disabilities. Transfers are taking place in phases, with the first families moving in on Monday, April 22. “As a key player in the private sector, we are committed to providing the necessary support to as many people as possible during these challenging times for the Sharjah community.

We have mobilized a number of our departments and will announce further initiatives in the coming days,” said Ahmed Alhoshaybi, CEO of Arad.

Parking Extension Announcement by Niral Jhaveri, Director of Property Management at Betterhomes. Providing security for tenants “Residential owners in Dubai and Sharjah will cover the maximum maintenance costs of their properties due to flooding after last week's record rains. Owners are currently in the process of restoring services and bringing their properties back to pre-flood levels.

“Frankly, owners have incurred significant costs due to the damage caused, which may or may not be covered by insurance. Most owners strive to restore services such as electricity and elevators damaged by rain in order to minimize inconvenience to tenants. If the underground parking lot is flooded, they make efforts to pump it out,” said Niral Jhaveri.

According to Khaleej Times, insurance companies have seen an increase in claims following the record rains. Jhaveri said they were happy that none of the units they manage were significantly affected by the rain, but there was water logging in the basement, which was later rectified.

Caring tenants Svetlana Vasilyeva, head of secondary sales at Metropolitan Homes, said that tenants who have suffered damage and are not too badly hurt contract with maintenance companies for repairs. “Who will pay for those repairs will be a matter of negotiation between the owner and the tenant, unless there are specific clauses governing the issues,” Vasilyeva said, adding that providing tenant assistance in the form of free months of rent will depend on the owner's generosity, his or her availability of insurance and relationship with the tenant.

Service Record by Anita Sagar, Director of Stewardshipreal estateat Allsopp & Allsopp Group, said they have received a record number of maintenance issues and all owners are working with the company to remedy the effects. “Most tenants realize that this is an unexpected natural phenomenon that no one can influence. However, owners have been willing to help fix any problems and are working closely with us to resolve them.” Sagar added that the past week has truly been an unprecedented time for owners, tenants and management companies. “Some owners had more damage than others and they worked with us to manage that damage and quickly restore water and power to their tenants,” she added.

Sagar said the main goal is to restore all facilities to good condition as soon as possible.