Airbnb in Dubai
Airbnb is a $30 billion company that has become a worldwide success. But can it work in places like Dubai? Although Airbnb has been in existence since 2007, its presence in Dubai is relatively new. Dubai property owners are considering their options, and many are enlisting an Airbnb Management company to capitalize on the income potential in their homes and apartments.
Airbnb: The Basics
At its simplest, Airbnb is a website that connects property owners who have a home (or room) available with visitors looking for short-term lets and holiday accommodations. Both homeowners and visitors must register on the Airbnb site, and then visitors search for accommodations based on location, type of listing, and desired dates. They request to stay at a particular listing, and the property owner can accept or decline. All financial transactions are made in advance through Airbnb, and payment is received shortly after the visit.
Both the host and the guest offer reviews of each experience and these reviews are used by other owners and guests to determine who is a good candidate for hosting, and which locations are the most desirable to stay in. You can now find 4 million Airbnb properties in over 191 countries, and the numbers continue to grow. Airbnb has become one of the best ways for residential property owners to create and maximize revenue.
For property owners, the appeal lies in the flexibility and control that Airbnb offers. You can choose when to list your property, and set prices that vary according to the season and demand. Some property owners live in their home full-time, renting out a room, or heading to a friend’s place when they have guests who want to rent the entire place. Others enjoy the flexibility of generating income from their property whenever they are absent. Many property owners hire an Airbnb Management company to handle all aspects of the listing, and then simply sit back and enjoy the profits.
Advantages of Airbnb and other Homestay Platforms
Airbnb is a short-term property let and holiday home solution. There are no 1 year notice periods like you would find with a traditional letting arrangement in Dubai. Whether you want to create income from your apartment when you’re away on business, make money while you wait for a property to sell, or pay for your holiday in the Maldives over Christmas while you Short-Let your home in Dubai, Airbnb can generate the income you are looking for. Globally, the yield on short-term and holiday home lets can be up to 50% higher than longer-term options. You can start and end your listing at any time, as well as adjust availability and rates.
Disadvantages of Airbnb
Successful listings with Airbnb require time, attention, amenities, and expertise. To optimize revenue, the listing must have professional staging and photography, an expert description, rate management, ongoing interactions with guests, on-site availability, and cleaning and maintenance of the property. For owners who are often away, this presents many challenges. In Dubai, there are additional requirements to meet rules set by the Department of Tourism and Commerce Marketing (DTCM) that must be carried out with each new guest.
Airbnb has grown exponentially over the years. While this means more people are looking for accommodations through Airbnb, it also means there is more competition between listings. Even in Dubai, the number of listings is increasing quickly. In order to be certain of the highest ROI, these listings need to be professional and stand out. Hosts must have amazing photos, provide premium services to guests, and receive excellent reviews after every visit. Poor reviews from guests have an immediate and lasting impact on a property’s success. Without the right expertise, property owners may face failure after only a few short visits. It is essential to understand the system that Airbnb operates under, and the type of visitor that uses this platform instead of booking a hotel.
Frank Porter At Your Service
Frank Porter is an exclusive Airbnb property management company working in Dubai. We manage every part of an Airbnb listing and provide 5-star services to each guest. From professional listings to communications with guests, and pricing optimization to DTCM compliance, Airbnb property management with Frank Porter handles everything with excellence. The result is that you enjoy revenue generated from short-term lets without any effort on your part. Frank Porter can even stage vacant homes, providing start to finish services for everyone wishing to take advantage of the Airbnb opportunity.
To succeed with an Airbnb listing, it’s essential to work with an agency that specializes in only this type of property management. Traditional property managers work within a completely different marketplace than Airbnb and other homestay platforms, and using the wrong management company can lead to poor reviews and higher vacancies. Tourists go directly to sites like Airbnb, Booking.com, TripAdvisor, and HomeAway when they want to travel to any location. They no longer look for local companies. The property manager needs to be proficient in pricing, photography, superior profile writing, and ability to communicate with international guests.
Frank Porter works exclusively with homestay platforms, and understands what tourists are looking for. We craft profiles in the best way to attract the right guests for the highest revenue.
Airbnb in Dubai
Now is an excellent time to begin operating an Airbnb in Dubai. Dubai Tourism has established a strong agreement with Airbnb, and the opportunities in Dubai are lucrative. As real estate price decrease across the emirate, Airbnb will become even more desirable for tourists. Savvy homeowners are choosing an Airbnb management company with local expertise to establish their apartment or home as a highly desirable property for short-term lets. Airbnb offers an ideal alternative to overpriced luxury hotels, and dismal ‘affordable’ traditional lodgings in Dubai. As Expo 2020 approaches, demand for short-term lets continues to increase. Established and well-managed Airbnb properties will be the first choice for many visitors to Dubai.
Frank Porter currently has openings for Airbnb management services in Dubai. If you’re considering listing your property, please contact us today. We’re ready to help you maximize the income potential you can enjoy with Short-Term rentals.