Five Reasons to Rent out Your Dubai Apartment
Residential rentals in Dubai are not performing as well as in past years. BUT vacation rentals across the city are thriving! If your Dubai apartment is available for just a few days a month, or for months at a time, here are five reasons to use short-term rentals with your property:
1. Online Platforms Bring the Guests to You
Airbnb began fully operating in the Dubai market in 2016 and has become the most popular online booking site for short-term vacation rentals. Other sites like booking.com, homeaway.com, and vrbo.com also showcase Dubai properties. This means you have access to tourists from around the world who are looking for an apartment to rent when they come to Dubai. If you’re organised, you can list the same property on all four booking sites, giving your apartment maximum exposure.
2. Charge More for Short-Term Lets
When compared to standard long-term rentals, short-term lets generate up to 50% more income! What’s not to love? This is the best way to generate the most income from your property! And, you can adjust the price based on the season (or events that increase demand for properties) so you’re always taking advantage of opportunities. Hint: When Expo 2020 hits, your apartment will be in high demand!
3. Full Control of Your Apartment
You get to decide when your apartment is available. Did you book a last minute mini vacation for yourself this weekend? No problem! Set the availability on your apartment and book a paying guest! Do you have family wanting to come for a visit? No problem! Block off those days as unavailable.
4. Don’t Wait for Payment
Traditional rentals can cause challenges when collecting payment. When you rent out your apartment with a short-term vacation let, the booking platform takes payment from guests before they check in! That means you’ll receive payment when the guest checks out. And platforms like Airbnb also provide homeowner protection, helping to protect the value in your home while you increase the balance in your bank account.
5. You Don’t Have to do Anything
Does renting out your apartment sound great—except for all the work? It’s true, there’s work involved. In Dubai, you must register yourself, your property, and provide specific information to Dubai’s Department of Tourism and Commerce Marketing (DTCM). You also need to stage, photograph, and list your property, maintain contact with guests, and adjust your availability when using multiple platforms.
Fortunately, Frank Porter can do all the work for you so you can sit back, relax and count your dirhams. Is your apartment not quite ready for guests (or even completely bare)? Frank Porter offers everything from staging to full design services. We communicate with potential guests, manage arrivals and departures, coordinate across platforms, and take care of all the paperwork and regulations. We even do the laundry!
Whether you do it on your own, or use Frank Porter, there’s never been a better time to rent out your apartment. Turn your home into flexible income that youcontrol!