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congratulations you received the keys to your brand new property in dubai you finished all the paperwork and paid for everything up until now now whether you intend to live in this property or intend on becoming a landlord there are some associated costs with it in today's real estate masterclass i'm gonna take you through each one of those so you can budget ingly and there are no surprise costs because nobody likes those the contents of today's masterclass are time stamped on the screen now if it's your first time watching this video i recommend watching it in full youtube viewers please like subscribe and hit the notification bell linkedin and instagram any comments and shares would be incredible okay so let's start today's real estate masterclass with each of these high-level categories of course which you're likely to incur these are service charges maintenance charges owner's association deposit utility bills and internet phone and tv services if you're buying with the intention of being a landlord and renting out your property the good news is you'll only pay all of these costs if you intend to live in the property yourself if you're renting it out to a tenant some of these costs will be borne by the tenant i'll quickly take you through these now so let's start with service charges these are recurring fees for the maintenance and upkeep of all types of properties in dubai the responsibility of this cost falls on the owner in a villa service charges are calculated based on the plot size and for an apartment it's based on the square footage both as per the title deed these charges are paid for the upkeep and maintenance of the common areas the lobbies the pool gym and the amenities of the community and you will be paying these as long as you own the property now let's take a look at the maintenance charges the maintenance covers anything that might go wrong with the property anything from the air conditioning a broken door handle to landscaping if it's a villa or a townhouse typically the owner will pay for maintenance over 500 dirhams and whoever is living in the property will pay for anything under 500 dirhams if however the property is brand new then the developer warranty covers you for the first year in some cases owners do absorb the total maintenance costs and this can act as a strong selling point for potential tenants next up you have utilities in dubai the utilities are governed by the diva which is the dubai electricity and water authority and covers the electricity and water consumption these bills are fully covered by the habitant one important thing to note here especially for an owner occupier is if the chiller charges are included this is the cost for chilling the water for the air conditioning if the building has its own ac plant then this is known as chiller free and the charges are included in the dewa bill if the apartment needs to have a chilled water connection to district cooling the chiller charges are built separately also if you have a gas stove for cooking then the tenant or the owner occupier will be responsible for getting the gas line connected and paying for any subsequent gas bills next one owners this is for you the owners association deposit as an owner you are responsible for the service charges and as such the owners association of the building will ask for a deposit towards service charges this is to ensure that the monthly fees are paid on time just in case you as an owner are unable to pay for whatever reason the amount of the deposit does vary but could be up to even six months of the monthly fee and now last but not the least internet phone and tv services is hardly worth having a slide for it it's all paid by the tenant or the owner occupier so that covers all the associated costs of owning a property in dubai i hope this helps and you can budget ingly when you plan to buy if you need any clarifications you can always drop me a message on tahira trustedhomestyle.com if you're in dubai i would love to grab a coffee or if you're overseas we could jump on a zoom call and before i end this video a massive thank you to our location sponsors one by omniat a beautiful luxury development coming up on the palm jumeirah a boutique development with just 94 exclusive residential units managed by the dorchester collection if you need help on this or any other property in dubai my contact details are coming up now and i'll see you soon in the next episode of real estate masterclass hey it's tahir thanks for watching my video if you want to get in touch with me drop me an email on tahir trustedhomesdubai.com if you're on instagram follow me at tahir majitya if you're on whatsapp and if you want to get in touch with me my whatsapp number is plus 971-50296-7861 and whilst you're on youtube please do subscribe and help me grow this channel if you found this video useful please do like this video you have any questions any queries please drop me a comment and also you want to stay updated with the future videos please hit the bell button and i'll see you in my next videos soon