Property Management Guide

Renting out your property and managing tenants both require time and a financial investment.

Ask yourself the below:

• Do I have the time to commit to managing a rental property?
• Am I comfortable dealing with potentially difficult tenants?
• Can I make repairs myself or do I need to hire a professional?
• Am I organized?
• Am I familiar with Dubai and RERA landlord-tenant laws?

It’s clear that managing a rental property can be hard work. As a landlord you must be available to your tenants at all times in case of any emergencies. In addition you need to take care of the day-to-day landlord tasks, such as collecting rent and paying any property bills. If you think you could use some assistance, consider hiring a property manager.

A property manager is an individual or firm who is hired to oversee and manage a rental property and its tenants. They are actively involved with the property and perform tasks such as the below but not limited to:

• Screening tenants and negotiating contract terms
• Collecting rent or other fees
• Arranging for repairs and maintenance
• Paying bills and managing an annual budget
• Setting rental rates and marketing the property
• Handling move-in and move-out inspections
• Recordkeeping
• Renewals

A property manager should handle all of these responsibilities and more. They do charge a fee for their services, but depending on your availability, it can be worth the money to avoid daily landlord duties. Whether you choose to hire a property manager will depend on your financial situation and the amount of time you can dedicate to managing your rental.

• You do not live in the UAE
• You’re not interested in managing a rental property
• You don’t have enough experience to successfully manage the property - in this case, a property manager can help ensure you are renting legally and getting the best returns.