Property Management Tips for Landlords

Sunday, September 27, 2015

property management tips for landlords

 

Renting out your home may seem like a profitable idea. That is, until the tenant trashes the house, you are fielding calls from angry neighbours and you have no one to take care of repairs. By giving up a little time and money now by hiring property management services in Dubai, you can bring in a lot more time and money for yourself in the future. After all, an ounce of prevention is worth a pound of cure.

 

Here are some tips for property management for landlords in Dubai to help them manage their rental properties.

 

Know your tenant: But not too well. Renting to family or friends may make it hard to enforce renting terms. Instead, get to know tenants by having them complete a rental application that will cover everything including financial information such as bank accounts and credit cards, employment information and personal information encompassing details such as number and size of pets. Ask for references from previous landlords to know about their rent history and general behavior and ensure a hassle-free tenancy.

 

 

Know the law: To get the most out of your property, it is essential that you know about the laws that apply. Consult with a certified expert on property management services in Dubai for all the relevant laws related to investment properties when you draw up the tenancy contract. Do not run with deals and amendments not mentioned in the lease agreement because you may not be able to enforce them.

 

 

Know the eviction process: You may need to file for eviction if a tenant does not pay rent on time or violates key clauses in the lease agreement. So, make sure you are well informed of the eviction process should the need arise.

 

 

Get insurance: You are open to liability all the time as a property owner. So, ensure that you have insurance to cover you in case anything goes wrong.

 

 

Inspect your property regularly: A happy tenant is more likely to be a good payer too. Further, if you as the landlord do not look after the property, why should the tenant? To ensure that your rental is well maintained, inspect the property regularly and fix anything that needs attention. 

 

 

Just because you can, doesn’t mean you should: It may be cheaper to hire someone skilled than save money by doing everything yourself. Better Homes’ property managers and our property management services in Dubai take care of and cover everything, from advertising the property, securing a reliable tenant, taking care of repairs, round the clock maintenance to collecting rents.

 

 

Do your research: While hiring property management services in Dubai, ensure that the company is registered with the Real Estate Regulatory Authority, is reputable and has a successful track record of managing properties in your area. Know exactly what services are included, ask for client references and determine what you will be charged for related to property management for landlords in Dubai.

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