Media . Real Etaste

Should I use a management company to look after my property in Dubai or do it myself?

Be informed. Read the latest news and gain insight on the current Real Estate trends and updates!

25 Aug

I’m often asked by landlords and property owners if they should use a management company to let out their property or if they should just do it themselves. Whilst in many blogs I try and give two sides to the story and be objective and sympathetic to both arguments, here I’m adamant: hire an industry expert!

Property supervision or management companies charge around 3-5%, which might seem high, but I would bite their hand off. There are many reasons why I wouldn’t do myself. Here are just four:

1. Why have unnecessary hassle?

Seriously, you’re an investor… why would you want to spend your time dealing with dripping taps or maintenance related issues? I know you want to save money, but do you really want calls in the middle of the night about these issues? I certainly wouldn’t recommend it.

2. They think for you
When you have lots of tenants (short-term) or one tenant (long-term) there is paperwork, renewal dates, servicing AC units, cleaning to be done and communications to take place. This can take a lot of time. For many investors, especially my clients that live abroad, time is money. They don’t want to have to think about the property, they just want to see a good return that is well managed, hence a management company being the best option.

3. They can help you build your portfolio

Agents hear of new deals, they find new properties and they get the scoop on bargains. If you’re in a good relationship with them, you might be the first person they call. And if they like working with you then they’ll want to work with you some more. We’ve seen clients grow their portfolio from zero to 30 properties… they can’t do that if they’re focused on maintenance related issues.

4. They represent you

Your development might have an Owners Association where issues to do with the management of the facility are being discussed. This might be difficult for you to attend – especially if you live overseas – but your management agent can go on your behalf and represent you, giving you the rundown of any intel without you having to sit through long meetings. The property manager will keep you informed on recent transactions of both sale and rent as well as keep you up to date on new or upcoming events and announcements in the community. Again, another time saving opportunity which means more money in your back pocket!

Tags: RERA Off-Plan Villa Townhouses News Blog Lifestyle Travel


No comments available!

You might Also Like