PROPERTY MANAGEMENT
WHAT IS PROPERTY MANAGEMENT?
Property Management is a service given to owners to take away the stress and headaches of managing their property.
A Property Management company is a mediatory party between an owner and a tenant to take care of an owners’ investment and ensure all of the regulatory items are taken care of including schedule of condition reports, rental cheques, maintenance management and ensuring correct notices are given to the tenants.
The biggest benefit of having a property managed is the peace of mind it gives the owner.
Landlords can relax knowing that there is an impartial third party protecting their property, deposit and tenant. Property managers will take care of and manage the often time consuming day-to-day problems that may arise
biggest benefit of
property management
Who Typically Has Their Property Managed?
- Landlords seeking to ease renting process.
- Landlords living overseas or in different time zones.
- Landlords who travel extensively.
- Landlords with busy work and personal lives.
Landlords are mainly contacted to give consent for maintenance works on their property. From there an agreement will be made with the property management team on the best way to move forward with contractors.
A landlord will also be contacted to receive an update on their investment. Updates on the property can be given weekly, monthly or annually depending on the landlord’s preference.
When Will The
Landlord Be Contacted?
How Many Times Will A Property Be Inspected?
The property management team conducts a check-in and check-out inspection where they will take photographs of the condition of the property.
The visual inspections are very thorough and look at floor to ceiling, internal and external aspects of the property. Fixtures and fittings are checked along with appliances and overall condition of the entire property
As per RERA law an owner can only get a rental increase on a unit if the RERA Calculator permits this. The Dubai Land Department regulates all increases based on the current market conditions.
If a rental increase is permitted, this should be applied 90 days prior to the expiry of the contract to give the tenant due notice.
How Can A Landlord Increase Rent?
What's the notice period
to vacate?
If an owner wishes for a tenant to vacate the unit then they will have to give the tenant 365 days’ notice, which should be for one of the following reasons:
- The property is their only place of residence
- Selling the unit
- Non-payment of rent
- The unit is inhabitable
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