It is a good investment to own a property. You may also make money by leasing it or selling it in the future. And when you purchase a property in a rapidly developing area such as Dubai, the probability of earning good money increases even more. However, it will take a lot of work too, to own a property- particularly when you do not reside close to it. It is in this area that property management companies come in.

In this guide, we will tell you what property managers are, why they are necessary (particularly, to individuals living outside the UAE), and what you should look at before employing one. 

What is a Property Management Company?

A reliable property management company in Dubai handles all matters concerning your property hence leaving you not to worry about it. These companies provide complete services, including getting your property ready when tenants come in and repairing and collecting the rent.

This is what these companies tend to do:

• Before new tenants move in clean and repair the home
• Checkups such as painting, pest control, and plumbing
• Assist in locating good tenants
• Process legal documentation
• Receive rent and report to the owner
• Inspect the property during and after the rental period
• Resolve issues between tenants and landlords

There are some real estate agents who provide some basic assistance, but they are not able to do everything that a complete property manager can. In this case, real estate agents will not be able to collect rent or visit the Rental Dispute Center on your behalf. However, registered property management firms are able to represent you in a legal way and even enjoy special government protection should there be any rent problems.

What is the Use of Property Managers to Overseas Owners?

Most of the people purchasing houses in Dubai reside in other nations. They can hardly monitor their property or manage issues remotely. It is the reason why a property manager is frequently employed by overseas landlords.

Firms such as Roots Heritage Realty update landlords with emails and software. They submit reports on rent, repairs and information on tenants. This also comes in handy when the landlords are required to pay taxes in their motherland. All this is neat and accessible.

Property management relieves a lot of stress and also allows you to preserve and increase your investment as well.

How To Choose A Property Management Company In Dubai

Dubai has a lot of companies, not all of them are the same. Below are a few tips on how to choose a property management company in Dubai:

1. Experience and Size

Select a firm that has been in the property management industry over a few years. Also, you can see the number of people and the number of properties they have.

As an illustration, a luxury villa requires more attention than a small apartment in case you have one. A small firm may lack the personnel or equipment to deal with large properties.

Established firms are also conversant with property laws in Dubai and how to go about legal documentation.

2. Customer Service and Accessibility

An excellent property management firm must be on call 24/7. You or your tenants can ask questions at any point- perhaps regarding documents, repairs, or rent.

Select a company with a quick and clear response. Most leading firms have online platforms that you can log in and view the details of your property at any time.

3. Clear and Honest Contracts

Always go through the entire contract. No fine print or confusing phrases.

Ensure that you comprehend each detail of the contract. Ask questions in case there is something you do not understand before you sign.

4. Attention to Return on Investment (ROI)

A good company not only takes care of your home but it also helps you to make the best out of it.

That means:

• Getting good tenants to pay rent on time
• Minimizing vacant months among rentals
• Proposing cost effective repair ideas
• Advising on improved mortgage or payment plans
• Dealing with delays or tenant issues

The aim is to get more money and maintain your property in excellent condition.

5. Customized Services

Stay away from companies which view all properties alike. The needs of a small studio apartment and a large villa are different.

Other firms provide the same services to all and this might not be appropriate to your property. Find some which design individual plans according to the type of your home and your objectives.

Dubai will give you the opportunity to cancel a contract in case you are not satisfied later, however, it is better to start with the right fit.

6. Licenses and Certificates by Law

Deal with licensed and approved companies only. Other companies might provide low prices, yet, when they are not registered officially, you might have problems in the future.

Ensure that you always verify that the company holds a valid trade license. This can be confirmed in UAE government websites or the company can be requested to produce evidence.

7. Company Reputation

Before selecting a company, check the reviews, testimonials, and ratings.

You may read what other landlords say on the Internet or request the company to provide contacts of former clients. A conversation with the people who have employed the service will provide you with a clear picture of how the firm operates.

Good services are often accompanied by good reviews.

8. Insurance Options

Get the company to inquire on home insurance. Insurance acts as the shield to your property against any damages, accidents, or other unforeseen issues.

Other companies offer basic insurance on their service. Other individuals can refer you to reliable insurance companies in Dubai.

The following are types of insurance to inquire about:

• General liability
• Property damage
• Rental Loss Insurance

With insurance, you do not have to pay huge repair costs using your own pocket.

Final Thoughts

Of course, it is worth it to hire a property management company in Dubai, in case you do not live there permanently or you want to avoid the stress of handling everything on your own.

This is what you obtain:

• Neat, properly maintained property
• Less vacancies and improved tenants
• Legal assistance in case of issues
• Clear tax and money accounts
• More time to yourself
• Relief that your money is secure

All you have to do is to select the right company. Before signing, check their experience, reviews, license, and services. And keep in mind, the best time to bring in a property manager is just right now. In Dubai, Roots Heritage relieves you of the burden of managing your property. You live abroad, or you simply need professional assistance? Our team is here to do it all, so you do not have to do it. Contact us now and we will ensure your investment serves you better.