How Short-term Online Rentals Are Affecting Property Management Companies in Dubai9 Jul 2018
The digital world has brought about many changes, including convenient online rental sites and apps such as airbnb, which experts say disrupt the normal processes of property management companies in Dubai. But what is airbnb, and how are these online services affecting the property management industry?
Online Short-term Rentals
Online rental sites and apps have become quite popular lately. This is due to the short-term home stays or other rental property services they provide. The well-loved site airbnb and its main competitors, including FlipKey, HomeAway, VayStays, and more, offer these services. These sites allow people to book their rental property online, which many prefer over the traditional method of personally dealing with landlords or property managers themselves. But what exactly are short-term rental listings?
These listings let people rent whole houses, a room, or shared rooms online, for their short-term use for days or weeks as determined by the owner. Many of the properties listed on these sites are available year round, because of the number of visitors in one area, each staying for a short time. Property owners are choosing to list their properties on online rental sites because the oversupplied rental market is causing a real decrease in rental income.
How Are Short-term Rentals Affecting Property Management?
Consumers value the services that online rentals offer, especially when it comes to vacations and tours. Unfortunately, these services can have a negative effect on the Dubai property management industry. More people are choosing to book their rentalsne, causing property owners to withdraw from property listings and crossing over to online rentals. Rising real estate prices are expected because people are willing to pay more to book online. A marked decrease in long-term property listings is being felt as the shift to online rentals continues. While online short-term rentals make it a little more challenging for Dubai property management companies, it is up to these firms to optimize their services and the properties under them so they can be on par with the competition.
Changes in consumer preferences cannot be stopped. But the property management industry can compete and make consumers choose their services. One way is by integrating technology into the rental management process, which is what Zawaya Property is doing. Check out Zawaya Property now and see what quality services are all about. You won’t need to list your property online if you have this first-rate Dubai property optimiser on your team.