What are the advantages of a short-term rental business model compared to a long-term rental, if you own a rental property in Dubai? Many people believe that every rental home situated in a popular area has obvious short-term rental potential, but this is frequently untrue. Here are 4 indicators that your property has superior earning potential as a short term rental.
There are distinct variations between what makes a good long-term rental and a short term rental, and there are elements of your home that can help you determine if it has the ability to be rented out briefly. You’ll find what are regarded as encouraging indicators that you might be standing on a small “gold mine” below:
- The perfect neighborhood and the perfect building
A diverse range of people looking for housing is drawn to Dubai’s vibrant and welcoming communities. To mention a few, Downtown, DIFC, Dubai Marina, and Palm Jumeirah are all charming and appeal to a wide range of audiences and lifestyles.
Your property’s capacity to generate immediate money is significantly influenced by your building. A short-term renter’s journey might be made significantly more enjoyable by those that are conveniently located and/or offer good amenities. These characteristics also help to distinguish your home from the competition.
Pro Tip- If you own property at The Five Residences on Palm Jumeirah, you’ll be doing yourself a favor by requesting an earnings assessment from Airas, UAE. The earning possibilities may surprise you!
- Amazing & Lovely Amenities
Dubai is a place known for its opulence, first-rate amenities, and exclusivity. Think of amenities like fitness centers, swimming pools, children’s play areas, etc., that are comparable to those found in five-star luxury resorts in the city’s ordinary apartment buildings.
It’s essential to highlight features and services that set a house apart. No amenity is too little to be included since, despite how unimportant it may seem to you, it might be the determining factor for a visitor. Your property will be in competition for the greatest amount of searches if a variety of features are offered.
- Size Always Matters
Contrary to popular belief, larger properties perform better than smaller ones. In Dubai, there is too much direct competition from hotels and resorts for properties with studios and one bedroom. For such smaller properties, the hotels will typically profit the most in terms of pricing and inclusions. On the other hand, larger properties that hotels cannot provide offer the chance to host more guests in a luxurious environment. Much less expensive than attempting to reserve numerous hotel rooms for ten or more people!
- Having the Right Operator
Because Dubai is an excellent metropolis, lodgings must adhere to these requirements. To guarantee that your property is home to the greatest service, you must use a short-term apartment leasing agency. A sophisticated approach to operations and customer service is necessary for short-term rental properties.
The sophistication offered by hotels and resorts is simply too high for a short-term rental manager to match on their own. In a market that exceeded $500 million AED in just 2020, more people are flocking to these well-managed luxury short-term rentals!
Why Choose US?
We offer the wide range of services needed to successfully manage and operate your rental locations to their highest potential. We employ AI-powered pricing tools and daily operational services to provide hospitality on par with those of the city’s luxury resorts.
If you believe your property meets this description, contact us over coffee to discuss how to maximise the value of your Dubai real estate OR forward this article to a friend who you think might be sitting on a “gold mine.”
