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Is hiring a property management company worth it?

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Once you have set up a short term rental property, you have a choice to make: Do you manage it yourself or do you hire a property management company? Hiring a short term property management company in Dubai, can sound like spending more. For some new investors this might seem an unnecessary expense.


However, there’s more to hiring professional property management than just the costs involved. Here's all you need to know to understand the value of hiring a property manager for your short term rental property.


 

What is the cost of hiring a property manager?


There are many factors that contribute to the fees a property manager will charge for the services they provide to landlords and guests; for example, almost all of the short term property managers charge at least a 'new guest' placement fee. They can then include other fees depending on the duration of stay of guests and other services and packages they may provide. Most often than not, these packages are more cost-efficient in the long run, rather than making adjustments and fixes very often for a lower cost.


It is always a good idea to check what the property management company offers, how they communicate and what their packages include, in order to provide you (the landlord) with an optimal return on your investment.


 

What value does a property manager add?


Some of the pros you get by hiring vacation rental management Dubai include:


Marketing

Once you give out your property to a manager, you won’t have to worry about sourcing for guests. Most of the property managers have high-end marketing tools they use to reach the right occupants, which translates to assured income for you.


Enhance services

A property manager helps keep your property clean and immaculate at all times through regular cleaning and laundry services whenever necessary. Also, the property manager handles and attends to all the guests’ needs while onboard.


Market knowledge

Property managers know everything about the local market. They understand how much you can value a property without overpricing it. They have also mastered how to write a listing to draw the occupants and can give you incentives on how to improve the property for the target market.


Maintenance and repair help

Property managers typically have support personnel ranging from repair professionals to property inspectors and even contractors in case the property needs major work. Given they have created a relationship, the professionals work quickly and affordably.


Other pros

There are several reasons to hire a property manager, such as helping you keep your privacy, streamlined property fee collection, dealing with guests complaints, guests screening and payments.


Is hiring property management worth it?

Yes, while hiring a property manager can have some additional costs, it comes with several gains.


Are you looking to hire a short term property manager in Dubai