Expert Advice: Property management services in Dubai
Bayut provides its readers with advice and insights from the Dubai property sector’s leaders and experts. Louise Heatley, the Managing Director at Exclusive Links Real Estate Brokerage, breaks down property management. Find out what property management is and the costs involved in employing these services. Learn when is the best time to use these services in Dubai, and what to look for when choosing a property management company.
What services do property management companies in Dubai provide?
General property management services in Dubai are comprehensive, says Louise. For instance, Exclusive Links’ broad range of property management services includes refurbishing the property and preparing it for occupancy before and after. Routine maintenance like painting, pest control and a thorough deep clean are just a part of their property management services in Dubai.
Most people don’t understand the difference between the services offered by a real estate agency and a property management company in Dubai. While a real estate agency may have management supervision services, which are a form of property management, they’re often restricted in the services they provide. They’ll still need power of attorney to conduct certain tasks and can’t legally accept rent cheques on the owner’s behalf. On the other hand, property management companies in Dubai, like Exclusive Links, have paid a government bond. So, should there be issues with non-payment, landlords will have recourse to safeguard their funds.
What are the benefits of using a property management company for landlords?
The main responsibility of a property manager is to protect the owner’s investment, Louise assures. Other benefits of using a property management company include handling handover and handback documentation, as well as conducting regular inspections during the tenancy. Property managers in Dubai also work to maximise ROI for the property owners and reduce maintenance costs.
Exclusive Links also manages many properties for overseas landlords who own homes in Dubai. Louise emphasises that Exclusive Links provides special support and attention to overseas landlords. These landlords receive quick and informative updates on their property and are the decision-makers for their investment. Exclusive Links also has their CRM software that itemises all the revenue, costs, tenancy contracts and maintenance reports for the property. Should clients need records for processes like tax returns, these records are one of the crucial benefits of using a property management company.
How soon should owners employ a property management company?
Louise recommends that owners engage with a property management company from day one. For instance, Exclusive Links provides snagging services in Dubai. If you’ve purchased a newly completed property, then Exclusive Links will conduct an 11-month inspection just before the warranty period expires. This service by property management companies in Dubai helps identify any defects and repairs that can be done by the developer for no cost at all.
Dubai property management companies can add value by offering this range of services.
What should owners look for when choosing a property management company in Dubai?
Choosing a property management company in Dubai is an important task, says Louise. She recommends checking the company’s trade license and ensuring they can legally provide what they offer. Other steps when selecting property management services in Dubai include reading company testimonials, reviews and talking to past and current clients.
An important factor when choosing from property management services in Dubai is the costs involved. Most companies in the city will charge between 5% and 10% of the property’s rent.
Louise emphasises knowing all the costs involved before going forward with a property management service provider. Some companies may have a management fee of 6% but potential costs involved can hike up the overall rate. It’s also essential that the property management company provides the right amount of support and transparency for owners to be confident in them.
About Louise Heatley
Louise Heatley is the Managing Director at Exclusive Links Real Estate, one of the UAE’s well-known real estate brokerage firms. Customer service and satisfaction are her top priorities, and her passion for property management drives her to make sure Exclusive Links offers the best services.
FAQs
What is the fee for outsourcing property management?
As discussed, the fee for property management outsourcing ranges from 5% to 10% depending on the company.
How to choose the right property management company in Dubai?
Read our guide on choosing the right property management company in Dubai before you make the final call.
And that’s an end to our Expert Advice segment for the month! Also, take a look at how landlords can benefit by having tenants pay rent by direct debit in the UAE. To know more about tenancy laws, check our guide to tenant rights in Dubai.
