Property Management

What is Property Management?

Property Management is a service given to owners to take away the stress and niggles of managing their property. A Property Management team 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.

What is the biggest benefit of Property Management?

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.

What services can Landlords expect from Property Management?

The landlords can expect an array of services to ensure their investment property is managed to the highest standard and ease their workload and stresses:

• Collection, safe keeping and protection of the deposit.
• Tenant Screening and documentation collection.
• Full inventory on tenant check-in and check-out.
• Accompanied viewings with prospective tenants.
• A premium marketing package for your property including listing on all major property portals.
• Preparation of the tenancy agreement.
• Move in preparation including - paint, clean, pest control and A/C checking (any maintenance at additional cost).
• DEWA connection for both landlord and tenant.
• Key handover/tenant check-in.
• Register tenancy with Ejari.
• Rent collection arrangement.
• Management of failed rental payments.
• Financial reporting.
• RERA compliance.
• Tenant & maintenance management.
• Renewal of contracts including negotiation of contract changes.

Who typically has their property managed?

Landlords who want to remove the stress and headache that can come with renting out their investment property will benefit greatly from having their property managed. Landlords may live overseas, in different time zones, may travel extensively or simply have busy work and personal lives. The majority of Dreamscape Homes's property management clients have a vast property portfolio and find the property management service extremely beneficial.

Is the service available 24hrs, 7 days a week?

The property management team is contactable 7 days a week. Our online application, Happy Tenant, is a platform for both tenants and landlords It allows tenants to log their maintenance requests directly from their phone and landlords can approve requests and can make payments via their wallet on the application. Our property management team can then liaise with trusted contractors who are on hand 24hrs a day.

Under what circumstances will the landlord be contacted?

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.

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. As well as this, fixtures and fittings are checked along with appliances and overall condition of the entire property.

How does a landlord get a rental increase on a 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 many days’ notice will a landlord have to give a tenant to vacate the property?

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

How important is a property inventory?

A property inventory is perhaps the most important part of the service. It is a professional report recording the condition of the property. The property inventory protects the owner against damage on their investment and ensures that should there be any dispute on the condition of the unit, there is a professional report that both parties can refer to.