You’re leaving the UAE and moving back home! That’s great news, if it’s under the right circumstances, but it does come with a lot of work and logistics that need to be thought out. From administrative tasks like ending lease agreements, closing bank accounts, as well as car and home loans, to packing up years of memories, clothing, and personal items, to searching for and hiring the best international shipping company in Abu Dhabi for your relocation needs, the list of things that need to be done seems never-ending. This guest post by ServiceMarket, the UAE’s leading marketplace for home services, makes you aware of the things you need to be careful about, especially when carrying out the administrative tasks.
Price Comparisons
Firstly, you need to compare prices for any and all services you need for your move back home. This entire move will be a lot more cost-effective if you know all your options, which will also allow you to make informed decisions. So do your homework and get quotes from all the service companies you need, be it shipping companies in Abu Dhabi to ship the belongings you have decided to take with you or cleaning and maintenance services in the city that can help you leave your apartment in the right conditions to get your security deposit back. Be familiar with the market prices for every service such as the cost of shipping your belongings from the UAE. Remember to ask the right questions and read the fine print in any contractual agreement before you sign the papers. There are relocation companies in Abu Dhabi that aren’t licensed and FIDI accredited and might mislead you with a price quotation that doesn’t cover all the services you need. Always ask for a complete breakdown of any estimate you receive and never sign an incomplete contract to avoid being a victim of fraud.
Bank Tasks
After comparing prices and making your decision to hire the best international movers in Abu Dhabi, now comes the time to do some closing procedures at the bank and with credit card companies. If you have car and home loans, you need to inform your bank as soon as possible that you’re leaving the country, as the process is not doable overnight. It’s better to give notice and time to deal with everything that needs to be paid off. You must also make sure your credit card bills are paid and your account has enough money to fund post-dated cheques and outstanding bills. There are serious legal consequences if the aforementioned items have not been dealt with, even if your account was being handled by an employer. You and only you are responsible for repaying loans and terminating existing contracts.
Not many people are aware that there are penalties for accounts that do not maintain a certain amount of funds, so make sure to clarify to your bank representative that you are permanently closing the account so these fines don’t stack up. This might need to be done in person as well as requiring a written letter of notification. You may also find that closing an account comes with fees, this is because some financial institutions charge you a penalty if you close an account before the 1 year mark. You will find information about this process and any charges in the information documents your bank provided you when you first opened the account. It is good to go over everything before you head over to the bank so you can be prepared.
Ending A Lease Agreement
Fortunately for tenants, a new unified tenancy law was introduced in the UAE in 2017 ensuring equal rights are given to both landlord and renter. Previously, tenants were unaware that their landlord could renew or nullify an existing contract for example, but today the tenant is given more rights regarding lease agreements. In the case of moving away, you should give your landlord ample time to find new occupants and to give back the property in the same state you received it. Most importantly, you must arrange payment for water, electricity, and gas bills that you receive up until your date of departure. If there are any irregularities or complaints from either you or landlord and no consensus can be agreed upon, the Rental Disputes Settlement Centre (RDC) can take over.
The law is not specific on the number of days you must give to notify that you will not be renewing a lease agreement. You must reread the initial contract received when you first moved into your new apartment or home and abide by the number of days the landlord has specified. There are often penalties in breaking a contract earlier than agreed upon; but in certain cases, it’s possible the landlord might waive any extra charges if you are on friendly terms with them or they may even return rent if they found another renter willing to move in straight away.
With regards to getting your security deposit back, that amount will only be returned in full after an inspection is conducted. After giving notice and agreeing on when the last renting month should be; the inspection can take place. If you don’t agree with the outcome or you feel the fees being taken from the deposit are too high, you may take up the matter with the RDC.
Ending An Insurance Policy
While it is easy to overlook the details in the terms and agreements of any contract you sign, it is important to do so, both when signing it and terminating it. So take out your car insurance policy and read it thoroughly. By doing so you can figure out if you need to confirm a notice of termination in writing or not and what the notice period needs to be. Next, reach out to your insurance agent and follow the procedure required to terminate the contract.
If you do it right, you will be able to receive any return premiums due. If you are confused about insurance terminology in your contract, read the A to Z of car insurance terms here. If you had home insurance, you need to follow the same steps to terminate the policy.
Now you know the things you need to be careful about regarding your move out of the UAE. If you are looking for a licensed and FIDI certified relocation company in Abu Dhabi, read up customer reviews and get quotes through ServiceMarket.
