A Dubai Property Management Crisis: Tenants Who Opt Out of their Rental24 Aug 2018
The Dubai property management industry has had its fair share of challenges, just like every other industry around the globe. And among these challenges, one that the industry always strives to understand and find solutions to, is the challenge of having good tenants who ultimately decide to move out of their rental property. What causes tenants, who are relatively peaceful and abide by the rules, to find other rental units? Let’s have a look at the background.
Reasons Why Good Tenants Leave
It is always unfortunate when a tenant, who never gave their Dubai property management company any problems choose to end their lease and move to another rental property. Who would want to lose great tenants? This is a challenge that needs more understanding, so you can find effective solutions and fend off potentially costly vacancies. To help you out, here are some of the top reasons why good renters opt to move out of their property:
- The rental property has become too expensive for the tenant. This may be due to an increase in daily expenses, a job loss, or for other practical reasons.
- They may need a bigger space, such as an extra bedroom or bathroom, or a larger kitchen. This can be because of personal reasons, or for a home-based business.
- The tenant may be downsizing for easier maintenance, or because family members have moved out.
- The tenant needs to relocate for family, safety or work reasons.
- It is imperative that you try to understand these reasons and provide solutions that will make great tenants stay.
Solutions to Avoid Vacancy
Everyone on the list of property management companies in Dubai hopes to get the best tenants for their properties. And once they land a good tenant, they wouldn’t want them to leave. But when these tenants express their need to move out once their lease is done, the company needs to find ways to help them stay. Let us explore solutions that you can offer tenants who want to move out:
- Offer a more preferable rental unit, smaller or bigger or one with the preferred amenities.
- Decrease rental rates, which is the better option than letting the unit go vacant.
- Offer an upgrade, which can be in the form of furniture or new appliances.
If your solutions do not work and fail to convince your tenants to stay, the only thing you can do is fill in the vacancy quickly. And with an excellent property management company like Your Property Optimiser, Zawaya Property, this will not be such a huge problem. Find your property management solutions with the best in the industry, Zawaya Property. Learn more about them now.