Want to Earn More From Your Properties? Here’s What Your Dubai Property Management Company Suggests?31 Oct 2018
Who would not want to earn more from their properties? That is what every landlord wants. After all, properties are investments. And in order to get the best profits from them, you’ll need to find ways to increase your property’s value. This is exactly what your Dubai property management company will do, to provide you with the highest possible income.
You don’t need any complex strategies or to over analyse anything to get the best returns on your investment. When it comes to property management in Dubai, all you need to do is to keep it simple. And Zawaya Property will help you understand how they do this:
Instead of increasing rent, decrease your vacancy rates. With the historical increase of rental rates over the years, tenants were vying to rent properties within their budget. Now the rates are decreasing. And that means properties with higher rates are often left vacant until market conditions change and someone comes along to rent them. In this case, you will lose more on the vacancy than you’d earn from your higher rates.
Implement termination fees. You have a contract with the tenant for a reason. In case, a tenant decides to terminate his lease prematurely, you still gain from early termination fees.
Charge a fee for every occupant not stated in the lease. When a tenant signs a lease agreement, they state who will be staying in the property. However, some tenants move in with extra people. By charging them extra for this, you not only increase your profits but also keep your property more secure.
Charge every rental fee paid late and state this in your contract. This will keep your tenants paying on time or, if they don’t, you get extra profit from every late payment.
These simple tips will significantly increase profits from your rental properties. It will even make a huge impact on your business’ growth. What is even better is that these methods don’t require any special knowledge and skills. Just follow through with the tips above and you will definitely feel an improvement in your cash flow. This is what Dubai property management wants to help you to understand. Or let Zawaya Property help you achieve this professionally and get the very best returns possible on your property investments. As Your Property Optimiser they will help improve your assets to give them the best value through their full lifecycle approach to property management. Check out their work today.