Property management in Dubai

In recent years, UAE legislation has greatly simplified the process of buying and selling real estate. Due to this factor, foreign investors began to massively buy up residential and commercial properties, and not always for living or working. The acquisition of real estate has become a very promising way of investment, allowing you to get a good income. Now such objects are considered profitable investment instruments, which the investor is likely to rent out. In order not to waste time on organizational tasks associated with investment properties, many arrange real estate management services in Dubai. The agencies with which the investor enters into an agreement undertake obligations to supervise the entrusted objects, ensuring high quality maintenance of the object and appropriate operation. No wonder property management in Dubai is of interest to many property owners. In this article, UAE Assets experts will tell you everything about this service and share their recommendations.

What is property management in Dubai?

A good income from investments in residential and commercial properties in the UAE provides an increase in the popularity of this type of investment. But after the purchase of the object, the foreign owner may not always be in the country, which causes some difficulties. For example, many situations require quick decisions such as finding a tenant, renewing a lease, paying bills, resolving legal disputes, and so on. Property management in Dubai at a distance through special agencies allows you to solve the problem of the owner's participation in a complex way.

By law, only organizations with a special license can carry out such activities. After the conclusion of the contract, the company receives authority to a number of issues: from domestic to legal. The main duty of a property manager is to protect the owner's investment. His list of tasks includes not only renting out properties and checking tenants, but also processing security deposits, making repairs and notifying disputes. The company saves the customer from the hassle of emergencies, complaints, service and paperwork. Property managers in Dubai are also working to maximize owners' return on investment and lower their maintenance costs.

What is included in a property management agreement?

In fact, it all depends on what type of contract was concluded: a complete or basic property management package in Dubai. The real estate management contract must be approved by the owner. If he is not satisfied with some points, then the document can be amended by agreement of the two parties.

Standard services usually include the following items:

• object inventory
• finding a tenant and signing a lease
• acceptance and transfer of rental payments to the owner
• accompaniment at the entrance and exit of the tenant
• maintenance and repair of the facility
• putting the object into operation, switching on/off utilities and their payment
• lawyer consulting

An important factor when choosing property management services in Dubai is the associated costs. Most companies charge between 5% and 10% of property rentals. Some agencies charge a management fee of 6%, but potential costs can increase the overall rate. It is also important that the management company provides the necessary support and transparency so that the owners have confidence in them.