Expert Advice: All about property management services in Dubai with the Managing Director at Exclusive Links Real Estate
Bayut once again returns to provide its readers advice and insights from the Dubai property sector’s leaders and experts. In this month’s Expert Advice segment, Bayut is in conversation with Louise Heatley, Managing Director at Exclusive Links Real Estate Brokerage. Louise is a respected voice in the Dubai real estate industry, and often contributes to print and online media. In this segment, Louise breaks down property management services in Dubai and what they offer. She also answers some of the pressing questions those looking for this service may have. Find out what is property management and costs involved to employ these services. Learn when is the best time to use these services in Dubai, and what to look for when choosing a property management company. And don’t miss the fun rapid-fire round at the end!
What services do property management companies in Dubai provide?
General property management services in Dubai are comprehensive, says Louise. For instance, Exclusive Links’ broad range of property management services include refurbishment of the property as well as readying it before and after an occupancy. Routine maintenance like painting, pest control and a thorough deep clean are just a part of their property management services in Dubai.
Most people don’t understand the difference between the services a real estate agency and property management company offers in Dubai. While a real estate agency may have management supervision services, which is a form of property management, they’re often restricted in the services they provide. They’ll still need power of attorney to conduct certain tasks and can’t legally accept rent cheques on the owner’s behalf. On the other hand, property management companies in Dubai like Exclusive Links, have paid a government bond. So, should there be issues with non-payment, landlords will have a recourse to safeguard their funds.
What are the benefits of using a property management company for landlords?
The main responsibility of a property manager is to protect the owner’s investment, Louise assures. Other benefits of using a property management company includes handover and hand back documentation, along with regular inspections during the tenancy. Property managers in Dubai also work to maximise ROI for the property owners and reduce maintenance costs.
Exclusive Links also manages many properties for overseas landlords, who own homes in Dubai. Louise emphasises that Exclusive Links provides special support and attention to overseas landlords. These landlords receive quick and informative updates on their property and are the decision-makers for their investment. Exclusive Links also has their CRM software that itemises all the revenue, costs, tenancy contracts and maintenance reports for the property. Should clients need records for processes like tax returns, these records are one of the crucial benefits of using a property management company.
Recent changes to local laws have also made property management companies in Dubai essential. The Rental Dispute Centre has removed the option for owners to give the power of attorney to a third party. This means that owners can now only appoint a family member, or they must employ a legal advocate, which can be very costly. However, property management companies in Dubai can represent the owners in case of any non-payment issue.
How soon should owners employ a property management company?
Louise recommends owners to engage with a property management company from day one. For instance, Exclusive Links provides snagging services in Dubai, which is included in their property management services. If you’ve purchased a newly completed property, then Exclusive Links will conduct an 11-month inspection just before the warranty period expires. This service by property management companies in Dubai helps identify any defects and repairs that can be done by developer for no cost at all!
What should owners look for when choosing a property management company in Dubai?
Choosing a property management company in Dubai is an important task, says Louise. She recommends checking the company’s trade license and making sure what they can legally provide. Other steps when selecting property management services in Dubai include reading company testimonials, reviews and talking to past and current clients.
An important factor when choosing from property management services in Dubai are the costs involved. Most companies in the city will charge between 5% and 10% of the property’s rent. Exclusive Links has a management fee of 8% but with no additional costs involved. Louise emphasises knowing all the costs involved before going forward with a property management service provider. Some companies may have a management fee of 6% but potential costs involved can hike up the overall rate. It’s also essential that the property management company provides the right amount of support or transparency, for owners to be confident about them.
About Louise Heatley
Louise Heatley is the Managing Director at Exclusive Links Real Estate. Louise was formerly a Purser at Emirates Airlines, before establishing Exclusive Real Estate in 2005. She went on to lead the company through a merger that would form Exclusive Links Real Estate Brokers, one of the UAE’s well-known real estate brokerage firms. Customer service and satisfaction are her top priorities, and her passion for property management drives her to make sure Exclusive Links offers the best services.
About Exclusive Links Real Estate Brokerage
Exclusive Links has made its mark as one of the best real estate agencies in Dubai. The boutique real estate firm provides an array of services that range from sales, leasing and property management. Their RERA certified team is professional and dedicated and works to meet their clients’ property needs and requirements. Since its establishment in 2005, Exclusive Links has only grown in strength, and aims to support client throughout the property process.
And that’s an end to our Expert Advice segment for the month! Also, take a look at landlords can benefit by having tenants pay rent by direct debit in the UAE through Asteco’s new digital payment method. To know more about tenancy laws, check our guide to tenant rights. And follow MyBayut, for more insights into the Dubai real estate market.
