Dubai is a place of luxury, innovation and a booming real estate market. As its population continues to grow and the need for high quality housing increases, managing a residential building here can be profitable and difficult. But property owners have to balance tenant demands, property maintenance and legal requirements.

That’s where professional property management comes in. Delegating these responsibilities to experts will help keep your property well maintained, your tenants happy and your investment return maximized. Now, let’s see the benefits of professional property management to residential buildings in Dubai.

Give maximum support to ensures Tenant Satisfaction

Meeting the Tenants Needs and Expectations through Professional Assistance Satisfied tenants stay for longer time, this means that there will be little expenses on tenancy since most of the tenants will stay for long. For this you can take assistance of property management companies for:

• Keep communication with tenants for smooth maintenance process.
• Developing a proper system for the tenant onboarding.
• Availability of round the clock services, which makes the tenants develop trust in the company.

Strategic Marketing and Leasing Expertise

Professional property managers use proven strategies to attract and retain quality tenants:

• Pricing property to attract potential buyers or renters and ensuring the property is well marketed through good photos and well written descriptions.
• Professionals will list your properties on the most visited platforms such as Bayut, Dubizzle, booking.com, arbnb.com and Property Finder.
• Will arrange free visit to the property for interested tenants.

Why It Matters:

A well marketed property has less down time and this means that the cash flow is constant.

Maintenance and Preventive Upkeep

Keeping the property in good condition not only keeps tenants, but it protects the property’s long-term value. Property management companies:

• Run regular checks to find and fix possible problems.
• Find trusted contractors to repair at a low cost.
• Preventive maintenance schedule like HVAC servicing or pest control.

General Tip:

It’s cheaper to prevent than to react, saving property owners money in the long run.

Rent Optimization expertise:

In Dubai’s competitive market, setting the right rent is important. Professional property managers will assist you in:

• Find the best rental price based on local market trends.
• Helps to change rentals according to demand, neighbourhood popularity, and amenities.
• Make sure that the property is still attractive to tenants and at the same time generating the maximum returns.

Get compliance with laws and regulations

Dubai has highly developed laws governing real estate and the process of owning a property can be very challenging.

Property managers ensure:

• DLD and RERA regulation and requirements compliance.
• Documenting of leases, renewals and the eviction notices as they are important in the business.
• Dealing with conflicts in a professional manner in order to avoid legal issues.

Did You Know? RERA laws state which terms must be included in a rental contract. Failure to do so may result in penalty or conflict.

Financial Reporting

Managing finances effectively is a key benefit of professional services:

• Daily, weekly and monthly check and balance to monitor the income and expenditure.
• Help with the funding of repair, renovation and other expenses.
• Collection of rent on time and distribution to the owners of the property.

Example:

A property management firm can easily explain to the owners where their rental income is being used and where they should be invested in the future.

Savings in Time for Property Owners

Overseeing a property is not a small task and especially in a city that is as active as Dubai. Professional property management:

• Takes care of daily responsibilities, leaving owners with time for other activities, personal or business.
• Serves as the key person for any issue that has to do with the tenants or the property.
• Gives confidence to owner that all the responsibilities are in the hands of professionals.

Owner Perspective:

Outsourcing means that owners can work more on expanding their list of properties instead of paying attention to each of them.

The property value can be improved through the professional care of the property.

A well-maintained property will attract tenants and at the same time increase in value in the long run.

Property managers ensure:

• All types of maintenance of common areas, amenities and facility and landscaping are well taken care of.
• All upgrades and renovations are so planned to increase the ROI.
• Tenant’s feedback is incorporated in order to enhance the living experience.

Pro Tip:

Even such improvements as smart home can become the key factor that will influence the choice of the luxury property in Dubai.

Outsourced property management is a crucial service that any homeowner of residential buildings in Dubai should hire. These experts in tenant satisfaction and financial reporting, legal requirements, and maintenance make your property a profitable and low-stress investment. When you choose to work with a good property management company, you can expect constant income, happy clients, and healthy business that you don’t have to manage individually. If you are ready for professional property management, please, contact HomeGram and let our team make your property shine.