Benefits of Hiring a Property Management Company to Oversee Your Commercial Real Estate

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Owning commercial properties in any of the big cities in the UAE can be financially rewarding. However, it takes a lot of effort and dedication to succeed as a commercial real estate owner. You may be great at investing, but if you fail to manage your properties, you will incur heavy losses. That is why you need to hire one of the top property management companies in Abu Dhabi to manage and oversee your investment property. Property management is a full-time job, and if you cannot commit to it, you should let professionals do it for you. Besides, there are numerous benefits of hiring a property management company. Here are a few that should convince you:

They will help you find high-quality tenants

Finding and screening tenants may be one of the most complex and time-consuming tasks that you will have to do as the owner of a rental property. Furthermore, if you do not have much experience in it, you may end up choosing a bad tenant. Bad tenants may delay or skip payments, damage the property, or carry out illegal deeds at the property. Worst of all, getting rid of them is harder than you may think. The top property management companies in Abu Dhabi have verified and reliable screening process that helps them find tenants who will:

  • Pay rent on time
  • Rent long-term
  • Minimize property damage
  • Not cause problems

An experienced property manager with years of experience in the industry can quickly identify red flags and choose tenants accordingly. They can help you avoid rental scams, discrimination lawsuits, and many more hassles. You can even find a company with significantly low Dubai property management fees.

You can avoid facing legal problems

Owning commercial real estate can be a bit more complex than owning residential property. There are several legal obligations that you need to know about and fulfill. Hiring one of the top property management companies in Abu Dhabi means you do not have to worry about all that. Then there is the issue of bad tenants. We cannot overstate how much pain a single bad tenant can cause. They are also a great liability both legally and financially. A property manager will take care of the following aspects:

  • Running background checks on potential tenants
  • Facilitating tenant evictions
  • Signing and terminating rental or lease agreements
  • Collecting and handling security deposits and rents
  • Performing unit inspections and ensuring safety
  • Keeping the property in good shape

The best part is that the money you will save with their help is the money you can use to pay Dubai property management fees.

Your properties never remain vacant for too long

Filling vacancies is one of the most crucial aspects of managing a property. You can hemorrhage money by leaving your commercial property vacant for too long. No property owner wants that, but it can happen if you fail to find suitable tenants on time. A property manager who works for one of the top property management companies in Abu Dhabi will take care of the following tasks to make sure that all vacancies are filled right away:

  • Determine the ideal rent rate: If the rent is too high, finding tenants can be difficult. If the rent is too low, you start losing money. Setting the right price requires insight into the local real estate market, access to professional rent calculating tools, and data on similar units.
  • Prepare the property for rent: Sometimes, you need to give your properties a makeover to appeal to the potential tenants. However, spending money willy-nilly won’t get you the desired outcome. Professional property managers know just what cosmetic improvements your property needs to attract tenants.
  • Promote your property: Marketing is just one of the many talents of the top property management companies in Abu Dhabi. They have run numerous ad campaigns for the properties they manage, and they know just how to promote your property on the right platforms. Moreover, since they do it a lot, they might be able to get you competitive rates for running ad campaigns.

You get a host of personal benefits:

You can enjoy several great personal benefits by simply hiring professional property managers to oversee and manage your commercial property. When working with one of the top property management companies in Abu Dhabi, you can have:

  • More freedom: Hiring a property manager gives you a unique freedom. You do not need to live near your property, you can travel anywhere anytime without worrying about taking care of your source of income, and you never have to conduct tenant screening or property inspections. You can even expand and diversify your investment portfolio by getting properties in different locations.
  • More free time: Time is money, and you can earn a lot of it if you do not spend your time micromanaging your investments. Hiring a property manager means you have plenty of time to focus on your investment career or something else.
  • Much less stress: You need to have a high tolerance for stress to be able to manage a property on your own. Doing it by yourself means you need to be ready for late-night emergencies, chasing down payments, evictions, paperwork, finding contractors and fixing damages and so on. You can avoid all that stress simply by spending Dubai property management fees to get a professional.

These are just some of the many benefits of hiring a property manager for your commercial properties. If you want experienced professionals for the job, check out RiseUp, one of the leading property management companies in Dubai.

With years of experience in the industry, RiseUp is the best candidate if you are looking for property managers who can work efficiently on their own without supervision or guidance from you.

To enjoy the best benefits of having professional property managers, get in touch with RiseUp today! Give them a call or drop them an email with your query.

What Can Your Dubai Property Manager Do For You?

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One of the most significant decisions you will make as a real estate investor is whether or not you should hire a property manager. Managing one or more investment properties is a full-time job. You need to give it your 100% simply because how you manage your investments can very well determine how much you earn from them. Poorly managed real estate can lose its value over time, which means a significant loss for you. If you do not have the time to manage your properties or if you feel that you are not the right person for the task, hiring one of the best property management companies in Dubai will be the right call.

What is a property manager?

Simply put, a property manager can be an individual or company that you hire to oversee the daily operations of one or more real estate units. Real estate investors and property owners typically rely on property managers when they are unable or unwilling to manage their properties. Commercial properties such as business offices, retail malls, and apartment complexes are generally run by property management companies. You will find a list of property management companies in Dubai that specialize in both commercial and residential properties.

Foreign investors, who have properties in Dubai, can benefit greatly from hiring one of the best property management companies in Dubai. Managing investment properties remotely is not only extremely difficult, but it can also prove to be impossible in certain situations. So, if you live far away from your rental properties, hiring a professional property manager may be the ideal solution. On the other hand, if you do not like dealing with the tenants, building maintenance, and so on, you can hire someone to do it for you.

Why hire The Best Property Management Companies in Dubai & What can a property manager do for you?

If you thought that property managers only collect and cash rent checks, you are mistaken. Before you start combing through the list of property management companies in Dubai, you should first get some clarity on what they can do for you. A professional property manager fulfills many responsibilities. Here are some of the most important ones:

1. Promote your property and find tenants

If you rely on rental income, the longer your properties remain empty, the more it costs you. The best property management companies in Dubai eliminate this by proactively trying to renew ongoing leases. They also promote your property on various platforms to attract tenants, and they do it as soon as the current tenant gives notice. That way, your rental property never remains empty.

Professionals hired through a list of property management companies in Dubai also make sure that a property is rent-ready. They take care of necessary repairs and remodeling work, replace damaged or faulty appliances, and rekey the doors. When the property is ready to be shown, the property manager promotes it aggressively with video walkthroughs and photos on his/her website as well as the major listing sites.

2. Screen potential tenants and collect security deposits

Hiring the right tenant is crucial if you want to avoid the risk of financial loss. The best property management companies in Dubai carry out a plethora of background checks including rental history, credit checks, employment history, pet information, and criminal record. They also conduct every step of the process in compliance with the law. Before finalizing the tenant, your property manager will consult you and get your approval. When you recommend a candidate for approval, they will perform all the legal formalities and collect the security deposit.

3. Know all the laws and regulations

When going through a list of property management companies in Dubai, make sure you select one that has a sturdy legal team to assist your property manager. As an investor, you may find it overwhelming to keep yourself up to date on all the current laws and regulations related to leasing or renting commercial or residential properties. A reliable property manager will have expertise on these areas and he/she will know how to address them properly.

4. Take care of maintenance requests

For most landlords, fulfilling maintenance requests is one of the biggest pain points. The idea of earning a passive income may not seem so appealing when you are called with a toilet emergency at the dead of night! No matter how good your tenants are, toilets will break, appliances will malfunction, and the building will get old and worn out. If you do not want to deal with the upkeep of your property, hiring a property manager will be the ideal choice.

5. Allow you to invest without worrying about geographic barriers

When it comes to running operations smoothly, real estate will always require a local presence. That means geographic boundaries can become a significant problem for investors. However, this issue can get resolved when you hire an efficient property manager whose operations are based where your property is situated. This way, you do not need to live in Dubai to own investment property here.

In Conclusion

There are countless benefits of hiring professional property managers to oversee your rental properties. Although you have to spend a certain percentage of your profits to pay your property manager, do not let that cost discourage you. Ultimately, the added expenses will be worth it when you see your property running smoothly without you having to worry about the day to day operations.

If you want a reliable and competent team of experts to manage your property, check out RiseUp, one of the best property management companies in Dubai. Since its inception, RiseUp has been working with both domestic and foreign investors and they specialize in both residential and commercial properties. The company boasts an in-house team that is composed of some of the leading experts from the industry.

RiseUp property managers can make your life much easier by making sure that your investment property stays in the best shape to generate high ROI. To learn more about what they can do for you, get in touch with RiseUp today!

7 GREAT REASONS TO INVEST IN DUBAI in 2021

 

Investment in Dubai

 

UAE’S GDP PER CAPITA

Dubai’s economy is projected to grow 3.8% in 2020 which will be higher than the global growth forecast of 3.6%.

SECURITY

According to Interpol, Dubai is a politically stable environment and a safe city for citizens, residents and visitors as it considered to be one of the safest cities in the world in terms of crimes and health.

GOOD RETURN ON INVESTMENT

While Dubai still offers one of the lowest prices in real estate it continues to offer the highest yields in the world averaging 7-8%.

STABLE CURRENCY

The UAE dirham is pegged to the globally recognized US dollar which allows the currency value to enjoy balance, growth, and stability in import and export trade rates.

UAE PROPERTY VISA

Dubai offers Residence Visa on full ownership of a residential property of AED 1 million as well as issuing a 5 or 10 years Golden Residency Visa. The new system enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100% ownership of the business on the UAE’s mainland.

“In 2019, the UAE implemented a new system for long-term residence visas. The new system enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 per cent ownership of their business on the UAE’s mainland. These visas will be issued for 5 or 10 years and will be renewed automatically.”

ZERO TAX

0% tax on residential real estate in Dubai investments and income with no limitation of transfers outside the UAE.

100% OWNERSHIP

The 100% business ownership policy that was announced this year will allow large businesses to accelerate growth and integrate with global markets for long term growth.

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OUR LOCATION

We’re located in the heart of Business Bay, Dubai. Don’t feel shy to drop in for a coffee and a free consultation on your rental or property needs with one of our executives.

ADDRESS:

1905, Metropolis Tower

Business Bay, Dubai, U.A.E.

P.O. Box No. 392340

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