If you are an investor and willing to purchase a property in Dubai, then it is the start of your long journey in Dubai. Once you buy the property then, you have to wait for its return on investment. Any certified company hired by investors to manage their properties in the best way is responsible for all the acts taken to manage that property.
In this article, we will be discussing how property management companies in Dubai help investors get on board for investment in property.
Advertising Campaign
As soon as the management companies are assigned to the properties, they have to do the market research accordingly, which includes the rental of the flat or house location of the property, and then run the advertisement campaign, which must include professional social media personal to takes photos and videos of that property and make a database of that specific property.
Inventory evaluation
For management companies, this is one of the most important works where the managers evaluate the property from the inside out and compile a set of documents. This step protects the investors from any damage and guarantees a professional report based on these documents, which includes both parties in case of breach from any side.
Selection of Tenant
It is the duty of the Management Company to check the applicant and guide them during the property viewing, also, they can sign a tenancy agreement on behalf of the investors. The management company has a right to extend the lease at the end of the tenancy period.
Rent Acceptance
The hiring manager is also liable to manage the organizational issues related to the period the tenant moves in. The manager asks the tenant for the rent on the date mentioned in the agreement and credits the rent amount to the owner’s account in the UAE bank. There is a management fee, which is also called a commission. This can be deducted at the time of transfer to the rental amount to the owner’s account.
Property’s Repair and Maintenance
The management company needs to check out utilities, technical issues, property repair and maintenance, annual charges, bills, and other related expenses. There are some companies that offer an online facility for the submission of repair requests and other related complaints.
Property Developer
A property that is under construction can be purchased by the investors and can be transferred to the management company. The management company can easily accept the property on behalf of the owner. They should be well aware of any defects or damage to the property at the time of transferring the payment. The property developer has to eliminate the defect without any cost, whereas the property needs to be inspected within the time period of the warrant.
Insurance
The insurance is the basic requirement in property dealing. The management company makes sure that the tenancy agreement should be registered in the Ejari system.
Conclusion
We have discussed the main point of property management services in Dubai. An individual should be well aware of all of them and should not neglect any of the above points in order to get a smooth process.
Click the link https://www.propertymanagement.ae/annual-package-services/ and get started if you are looking for professional property management services.