With a booming real estate market setup and appealing architectures, Dubai has carved a niche for itself with large number of expats moving towards owning a property in Dubai. Owning rental properties in Dubai is a great way to build wealth, however to achieve this and convert your wealth into a fixed ROI you need a detailed information of companies of property management Dubai.
Property management companies in Dubai will help you take a confident and verified decision on the type of property you need to purchase, and the area in which you need to invest in. Property management company takes care of day-to-day management of your rental property, provide valuable suggestions on the type of property you need to invest in, and other services including tenant screening, rent collection, maintenance, etc. To better understand the importance and need of property management companies, let us take an example of owning a property in Al Mankhool a residential community in Dubai located in the heart of Bur Dubai. Now, you are a resident of India who has invested in Dubai and undoubtedly it becomes quite hard for owners to remain in contact with your tenant as well as before renting your property you need proper screening of your tenant. Here comes the services of Property Management Companies, such companies will help your prospective tenant get a better idea of your house, facilities in Al Mankhool, for example they can also convince tenants by specifying the availability of Al Mankhool Health Center which will further help your tenant take a firm decision before choosing your property for rent.
6 Reasons You Should Hire a Property Management Company
- Expertise and Local Knowledge
Real Estate in Dubai is quite confusing and unfamiliar for people who live in the UAE, or live overseas. A property management consultant will help you get better understanding of rental rates, property laws and regulations owing to their extensive knowledge and expertise in the Dubai Real Estate sector. Professionals will also help you in extracting a deep knowledge on the off plan projects in Dubai and help you take a wise decision before investing in such properties. They are well aware and updated with the latest developments, rental rates, and tenant expectations in the property market.
- Hassle-Free Tenant Search
Jumeirah Village Triangle, Jumeirah Village Circle to name a few are some of the most popular residential communities in Dubai ideal and popular among tenants. An unbiased and experienced rental management company can help you differentiate well between these popular residential companies and help tenants in finding a better home where you can live for long-term. Experts use tried techniques to help you find reliable living locations, and also help the owners in managing the screening procedure, confirm the qualifications of tenants, and other legal formalities right from their home.
- Rent Collection and Other Finance Related Matters
Dubai is famous for its rent collection method through post-dated cheques, that means storing cheques in advance and using them at the appropriate time. However, it is a tedious task. Given the large number of architectural developments and rise in investment in Dubai by tenants as well, the need of property manager is highly appreciated across the Dubai city. Property managers ensure proper management of financial matters for your property, which includes collecting and storing post-dated cheques, cashing them at the appropriate time, and handling any dispute in cases where the tenant is unable to make the payment of rent.
- Proper Marketing and Advertising
Finding a right tenant for your property is a daunting task, however it becomes quite easier when you have an efficient and professional property management companies in Dubai. They help you with their efficient marketing and advertising strategies like using professional images of the property, and listing the property at the right platform to contact the right tenant at the right time.
- Repair and On-time Maintenance
Regular maintenance and repair are part and parcel of your personal belongings, no matter they are your property, vehicles, or other items. When it comes to your property no landlord likes getting late-night maintenance calls from their tenants. Anything at anytime can demand maintenance and repairing. Though Dubai is a thriving city with large number of expats looking for investment in Dubai, still it does not mean that Dubai properties have no loopholes and they never need maintenance.
To stay away from such unwanted situations, owners often hire a property manager to take care of their property on their behalf. Some of the top property management companies in Dubai ensure complete repair and maintenance services for your property and handle all repair and maintenance tasks associated with your property. They even take care of emergency repairs, and establishing a proper co-ordination between the tenant and the owner.
- Legal Compliance, Laws & Regulations
The legal process is strict and obligatory for both owners and tenants in Dubai. A professional property management company will help you get this daunting task done in no time, from getting your papers ready to helping you legally, professional managers will help with everything. The experts are aware with the local news, rules, and regulations of the UAE which even owners are not fully aware with. Professional managers educate owners, especially who are foreigners and are not much aware with the legal compliances of the UAE government and keep them updated with the laws to ensure a smooth phase of tenancy.
Range of services landlords can expect from property management companies in Dubai
The landlords can expect a wide array of services to ensure that their hard-earned property is well-managed and is in safe hands:
- Proper planning and management of failed rental payments
- Proper advertisement and listing of vacant property on top property listing websites
- DEWA connection for both tenant and landlord
- Rent collection/management and adjustments
- Taking care of the basic needs of tenants in the absence of the owner
- RERA Compliance
- Financial Reporting to the authority and owner as and when required
- Tenant and Maintenance Management
- Ensuring the safety and security of tenants
- Providing 24*7 services to tenants
- Renewal of Contracts
To Wind Up
Renting a property is quite a simple task but however renting a property with the assurance of keeping the tenants happy and helping them with all the basic needs is a daunting task. For owners living in foreign, it gets quite difficult to stay updated with the basic needs of their tenants however the increasing services of property management Dubai has made this task a lot easier for both the owner and tenants. Save your time and keep yourself stress free with the help of professionals who have years of expertise in handling such matters in no time.
A seasoned property management company will help you save your time and money without compromising on time and quality.
Frequently Asked Questions
- Is the property management service available 24*7?
Yes, Dubai is home to top-quality luxurious villas, residential, and commercial properties with millions of people migrating to Dubai every year in search of good future. Thus, the property management team from any top company is contactable 7 days a week and mostly 24 hours. Tenants can raise their issues directly via phone calls and receive possible solution probably within 24 hours.
- What is the frequency rate of a property been inspected?
The property management team as hired by your owner will inspect the property from time to time. To ensure safety and security they will keep images of the property from floor to ceiling, and also keep in check internal and external aspects of the property. The fixtures and appliances will also be checked to ensure safety of the tenant.
