What is Property Management?
Property management is a service designed to alleviate the stress and hassle for property owners by handling the day-to-day management of their properties. A property management team acts as an intermediary between owners and tenants, ensuring that the property is well-maintained and all regulatory requirements are met. This includes tasks such as creating schedule of condition reports, handling rental payments, managing maintenance, and issuing proper notices to tenants.
What is the Biggest Benefit of Property Management?
The primary benefit of property management is the peace of mind it provides to owners. Landlords can feel secure knowing that an unbiased third party is looking after their property, deposits, and tenants. Property managers handle the time-consuming daily issues that may arise, allowing owners to focus on other priorities.
Who Typically Uses Property Management Services?
Landlords who wish to avoid the stress and complexities of renting out their investment properties benefit greatly from property management services. This includes those living overseas, in different time zones, traveling frequently, or having busy work and personal lives. Many of Loft & Keys' property management clients have extensive property portfolios and find these services extremely advantageous.
Under What Circumstances Will the Landlord Be Contacted?
Landlords are primarily contacted for consent regarding maintenance work on their properties. The property management team will then discuss and agree on the best course of action with contractors. Landlords also receive updates on their investments, with the frequency of updates (weekly, monthly, or annually) depending on the landlord’s preference.
Who Typically Uses Property Management Services?
Landlords who wish to avoid the stress and complexities of renting out their investment properties benefit greatly from property management services. This includes those living overseas, in different time zones, traveling frequently, or having busy work and personal lives. Many of Loft & Keys' property management clients have extensive property portfolios and find these services extremely advantageous.
What Services Can Landlords Expect from Property Management?
Landlords can expect a comprehensive range of services designed to manage their investment property efficiently and reduce their workload and stress, including:
- Collection, safekeeping, and protection of deposits
- Tenant screening and documentation collection
- Full inventory during tenant check-in and check-out
- Accompanied viewings with prospective tenants
- Premium marketing package including listings on major property portals
- Preparation of the tenancy agreement
- Move-in preparation such as painting, cleaning, pest control, and A/C checks (maintenance at additional cost)
- DEWA connection setup for both landlord and tenant
- Key handover and tenant check-in
- Registering the tenancy with Ejari
- Rent collection arrangements
- Management of failed rental payments
- Financial reporting
- Compliance with RERA regulations
- Tenant and maintenance management
- Renewal of contracts, including negotiation of changes
Get your free quote from our Property Management team
If you would like to take away the stresses of renting out your property in Dubai, then we have you covered.