Insights into Dubai’s Mollak System Governed By RERA

Dubai Land Development (DLD) has regulated policies and tactics to elevate Dubai’s real estate industry since its founding. To date, the Real Estate Regulatory Agency (RERA), its regulatory branch, has streamlined the requirements of developers and investors by implementing numerous policies and providing a range of services. Mollak is a project that aims to manage jointly-owned properties in Dubai through an online payment system. Let’s examine this cutting-edge platform and how property owners might benefit from it!

Mollak Dubai: Decoded

An internet platform called Mollak guarantees openness for joint real estate ownership. Through this platform, unit owners can pay service charges immediately to prevent future disputes or problems.

Mollak Services Dubai’s key goals are to: 

• • Facilitate maintenance company registration
  • Foster transparency in owners’ associations
  • Keep track of escrow accounts and joint ownership service fees

• A Step-by-Step Guide to the Operations of the Mollak System

Registration for Mollak is a rather easy process. Co-owners must take the following actions to start the process:

• • To register their company and important managerial personnel in the system, management companies need to adhere to the registration requirements.
  • If a corporation satisfies all the requirements for registration, each project it oversees will be registered as a separate “property group.”
  • In addition, an online contract will be executed to designate the community manager.
  • To pay service fees, businesses need to open a regulated bank account that has been approved by DLD.
  • Each property group’s budget will be created by the management businesses and submitted to Mollak for examination by an auditing firm.
  • The audit company will submit it to DLD for final clearance on Mollak following a review.
  • Mollak will notify the owners of their permission for the duration of the budget after it has been granted.
  • Owners have access to several online payment methods, such as Noqoodi, for paying service fees.
  • Through the DLD website, you can visit the Mollak Dubai portal. Enter the data for your property to view and verify the service charges.

• What are the Core Features of Mollak’s System?

Among the many features of Mollak are:

• • It helps co-owned property owners collaborate with the managers of their owner’s associations.
  • It satisfies the demand for open, regulated accounts from the community.
  • The registered owners receive invoices from it every three months. These four bills are to be uploaded by the manager of the Owner Association.
  • Numerous payment gateways are supported.

Several of the top banks in Dubai, such as Al Mashreq, Emirates NBD, UBL, Commercial Bank of Dubai, etc., are interested in the Mollak System.

• What are the Services offered by the Mollak System?

Mollak Dubai aims to facilitate communication between management companies and unit owners. The owners are reassured by this procedure that the money they pay for services goes toward the upkeep of their property. Having said that, the Mollak system provides the following set of services:

• • Owner’s committee registration
  • Management contracts, personnel, and management businesses are all registered.
  • Banks, statutory financial auditors, financial institutions, and real estate complexes are enrolled.
  • Request authorization for service charges and open a real estate complex bank account for regulatory purposes.
  • Send bills to co-owned property owners who own individual units.
  • giving the owners access to electronic payment gateways and payment channels.

What You Need for a Successful Owner Registration?

Through the Mollak mechanism, unit owners of co-owned property can register a committee at no expense. The steps and list of documents needed to register the owner’s committee are provided here.

• Required Documents

  • The owner of the real estate unit’s photo.
  • approval of the owner’s committee’s declaration of adherence to ethical standards.
  • Copy of a commercial licence (if applicable to a commercial unit)
  • A copy of the DEWA bill bearing the unit owner’s name
  • If the title deed’s owner also holds a commercial licence, the following information needs to be submitted:
    • A copy of the rental agreement (registered from Ejari)
    • A copy of the leased company’s commercial licence

• What is the Procedure for Registration on the Mollak System?  

  • Owners of units may register via the Dubai REST app or the DLD website (Mollak system).
  • All you have to do is login if you already have an account.
  • Complete the necessary information and submit any necessary paperwork.
  • DLD will consider this request.
  • Notifications of approval or rejection will be delivered.
  • Users can access the details on the Mollak system after approving them.

• What are the Terms of Service to be Followed?

The following terms and conditions must be adhered to by the unit owner:

• • Frequent payment of RERA-approved service fees
  • It is appropriate to live in and own an apartment in Dubai that is a part of a co-owned property.
  • Dubai Police’s certificate of good behaviour regarding RERA 

How Management Businesses Can Register as RERA Companies?

With the use of this Mollak system solution, management businesses can register as RERA companies to handle jointly-owned property administration. The prerequisites are as follows:

• What are the Documents Required for Registeration?

  • The brand name and image of the company
  • Manager of the company’s photo
  • The director of owners’ affairs, the finance manager, and the director of facilities management have certificates of experience and pictures.

The owners’ committee registration procedure is comparable to the registration process. However, a business must abide by the following service terms:

• • Foreign nationals’ residency visa.
  • Addressing the Real Estate Regulatory Authority, Dubai Police issued a certificate of good conduct and practice.
  • The management and staff are not permitted to take part in any other licenced activities.
  • Without permission and a licence from RERA, no one is allowed to engage in management activities.

What are the Legal Steps to be Followed by the Joint-Property Owners?

Owners of jointly held property should be aware of the numerous laws and regulations established by the Dubai Land Department. The main need for sharing a property’s earnings with a co-owner is a declaration or contract. The following are the guidelines for this declaration:

• • Every portion of the land, whether it be a plot with a building on it or only a portion of one, requires a declaration.
  • Plot declarations are only eligible for registration if they appear on the authorised list of jointly held units.
  • A leasehold or freehold interest declaration is only valid for a maximum of 99 years.

How can you make Online Payments on Mollak?

The Mollak system in Dubai uses online payment methods, such as Noqoodi, for paying service fees.

What are the Service Charges Imposed by Mollak?

The unit owners pay service fees to RERA Dubai for the management, upkeep, repairs, and operation of the jointly held properties. Having said that, each unit owner has these service fees collected annually and deposited into a common bank account.

Here’s how to cover the service fees for Mollak:

• • Pay the service fees in the regulatory bank account and email the management business the paid invoice slip.
  • To pay service fees for co-owned assets, use online banking, a credit card, or the Noqodi wallet.
  • It should be mentioned that management firms that have not received RERA approval are not able to collect service charge payments.

How Can one File for Complaints and Inquiries?

The owners must use the Real Estate Violation System (RVS) to file complaints in the event of a service disconnect or for any other reason. Tenants may use the Rental Dispute Centre (RDC) in the interim if they rent an apartment in Dubai that is a portion of the co-owned property. Either way, the decisions are available right now.

Conclusion

As a result of our investigation of Dubai’s Mollak system, we now know a novel method for managing properties and community governance. The Mollak system not only ensures financial transparency but also empowers property owners, fosters dispute resolution, and sets the stage for a technologically advanced future in real estate.

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