CONDITIONS FOR TRANSFER OF LEASE:

INITIATION OF TRANSFER

1. The Transfer of Lease will be initiated only in properties i.e. buildings/ apartments/ villas/ commercial units that are not due for major refurbishments / upgradation/ demolition within 14 months of the initiation of the request. Please verify the same with the wasl Customer Happiness Representative at wasl Experience Centre / wasl Call Centre before initiating request for transfer of lease.
    
2. Transfer of Lease to a family member (ie. Husband/ Wife or Son/ Daughter) due to the demise (Death case) of the tenant will be initiated by family members only, at the wasl Experience Centre. In such cases, please contact a Customer Happiness Representative at the wasl Experience Centre.
    
3. All pending outstandings ie. rental payments, penalties pertaining to late renewals/ cheque or SI return/ violations, etc. must be cleared by the existing tenant before initiating the request for the transfer of lease. If a Post-dated cheque (PDC) is due within 7 working days of the initiation of the request, it will be deposited in the bank and adjusted in the final settlement of tenant dues. PDC due after 7 working days will be withdrawn and returned to the tenant.
    
4. The following payments will be applicable for initiation of request for transfer of lease:
   
   Transactional Fee of AED 500/- + applicable VAT + Knowledge Dirham + Innovation Fee (as applicable)
   
   NOTE:
   • The Transactional Fee will be paid by the existing tenant and will be non-refundable. 
   • Payment of Transactional Fee is NOT AN ASSURANCE of acceptance of the request. wasl reserves the RIGHT TO REJECT a request based on due diligence conducted at its end OR due to non-provision of requested additional information/ documents within the specified time, after initiation of request.
      
5. The confirmation of transfer will be provided by wasl within 2 working days of the initiation of the transfer request, provided all documents/ information are provided by the tenant. via wasl web/application termination Service Request (SR) platform.
    

6. Requests for Transfer of lease may be initiated by:

   • Individuals for transfer to their family members (in which case the unit will not be vacated)
   • Individuals for transfer to non-family individuals
   • Individuals for transfer to companies

   • Companies for transfer to individuals

     NOTE: Requests for Transfer of lease between companies will have to be initiated manually at the at the wasl Experience Centre.

     Accordingly, appropriate Transfer Fees will be applicable based on the cases specified above. Please refer to the Annexure A to verify applicability of Transfer Fees and the Transfer Fee amount.

     Additionally, a change in rent and Secuity Deposit amount may be applicable based on the cases specified above. Please refer to the Annexure A to verify applicability of change in rent/ change in Security Deposit.

     The rent applicable for the new lease will be communicated to the tenant within 3 working days of the acceptance of the lease transfer request.

   CONDITIONAL INSPECTION AND SETTLEMENT

7. A Conditional Inspection will be conducted to assess any refurbishment requirements that may have arisen during the term of the current lease and a Damage Report will be provided to the tenant.
   
   If the tenant is not required to vacate the property, the Conditional Inspection will be conducted within 3 working days of the acceptance of the lease transfer request OR on a date specified by the tenant. In case the tenant is vacating the property, the Conditional Inspection will be conducted and a Damage Report will be provided within 3 working days of vacating the unit.
    
8. Appropriate deductions to the available Security Deposit (SD) will be made based on:
   • The damages specified in the Damage Report.
   • Any modifications made to the unit during the term of the current lease, and not reverted to original state.
   • The date of vacating the property (if applicable).
   • Any unpaid outstandings as specified in Para 2.
      
9. The Final Settlement will be based on the amount calculated above and any PDC amount deposited in the bank after initiation of request for lease transfer.
    
10. The Final Settlement amount will be deposited in the bank account provided by the earlier tenant while initiating the lease transfer request.
     
11. In case the deductions specified in Para 6 are in excess of the available SD and available PDC, such excess amount will be collected from the tenant through generation of an additional invoice.
    
    wasl may initiate appropriate legal recourse in case of refusal to pay the excess amount.
    
    NEW LEASE ACCEPTANCE AND LEASE CREATION
     
12. The new proposed tenant will be required to confirm his/ her acceptance of the new lease conditions and the rent within 1 working day of the provision of the Damage Report and the communication of the rent applicable for the new lease. The new tenant will also be required to acknowledge that the property will be LEASED IN AS-IS CONDITION without any refurbishments or additional modifications to be undertaken by wasl.
    
    The acceptance of the lease conditions and rent will be confirmed through a link to be communicated to the new tenant which is to be logged in using UAE Pass.
     
13. In case of transfers to family individuals, the new tenant will be required to confirm the change of name undertaken in the DEWA account, in order to release the final settlement amount.
     
14. In case of transfers to non-family individuals as well as transfers between companies and individuals, the new tenant will be required to pay a refundable Commission along with the acceptance. 
     
15. In case of transfers to non-family individuals as well as transfers between companies and individuals, the existing tenant will be required to initiate a lease termination request through wasl e-services, after the acceptance of lease conditions and rent. The existing tenant will receive an e-mail notification from wasl to initiate the lease termination request.
     
16. The rental amount for the new lease will be paid in 4 instalments only either through PDC’s or through Credit Card Standing Instructions.
     
17. On being notified by wasl, the lease agreement must be signed by the new tenant within 2 working days at the wasl Experience Centre. Else, wasl reserves the right to cancel the new lease transaction and forfeit the commission fees with imposition of three months' rent as penalty for breaking the leasing contract. However, the penalty for breaking the contract will be applicable only if the existing tenant would continue with the lease termination request.