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Pure Real Estate establishes Lease|Rent broker alliance

- March 9, 2009, 12:15 pm

Pure Real Estate establishes Lease|Rent broker alliance

Pure Real Estate spearheads Lease|Rent initiative that will empower tenants with protection, transparency and a powerful database of rental properties.

A group of leading property brokers in Abu Dhabi are joining forces to establish a powerful alliance working under the Lease|Rent brand.

Lease|Rent, an initiative set up by Pure Real Estate, has been designed to ensure clients in the Abu Dhabi rental market receive the highest levels of professional service, and that all information relating to a property is underpinned by clarity and transparency.

Tenants will benefit through having a network of brokers from the alliance working on their behalf to find rental property that best fits their needs and budget. The shared database of properties in the alliance is set to become the largest in the UAE capital, and has its own web portal.

Alan O’Donnell, Managing Director of Pure, said: ‘The founding principles behind the formation of the Lease|Rent alliance are very similar to the strategic alliances we see in the aviation industry.’

O’Donnell added, ‘Aviation alliances are based around companies joining forces under one banner, and the end result is that the consumer benefits greatly. Just as airline alliances open up a vast network of airline routes, Lease|Rent will open up an unparalleled database of quality apartments, villas, towers and commercial space in the UAE capital.’

Mr O’Donnell stated, ‘The other way in which tenants will really see a positive impact through using Lease|Rent is that the alliance will bring new levels of transparency and professionalism to the notoriously competitive Abu Dhabi rental market, where some brokers have, in the past, leveraged the supply-demand imbalance to introduce stealth fees and rogue charges.’

‘Lease|Rent aims to bring pure clarity to the rental market. Pure Real Estate have been very careful about the brokers that are invited to join the alliance, as they must be able to meet the levels of professionalism that the Lease|Rent brand stands for. We are also very clear with the landlords that we work with that the tenant should be viewed as a partner, and that it is absolutely vital that all contracts and fees are 100% transparent,’ he added.

A number of Abu Dhabi’s leading brokerage companies have already joined the Lease|Rent alliance, and negotiations are close to being finalised with several others. Pure Real Estate expects to make an announcement unveiling the affiliate companies of the alliance over the coming weeks.

Mr O’Donnell said, ‘With resources pooled from multiple companies, it stands to reason that efficiency of the leasing model will improve markedly. Viewings will be conducted faster, and at the times that suit the potential tenants. Tenants will have a much wider selection of properties to choose from and landlords know that Lease|Rent has the means and client base to shift their properties faster than anybody else.’

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