First of all, let’s clarify residential property is real estate built and used for dwelling purposes In Dubai, such real estate includes flats in various communities and villas. Further, let’s get to the essence of property management that refers to a service of real estate operation, control, and oversight designed to assist landlords in their rental business. Thus, residential property management is a service that includes operation, control, and oversight of rental housing.
It is said hope for the best prepare for the worst. So, when you rent out your flat, villa, or other property, no one can guarantee your property is in safe. In other words, chances are your tenant could damage your property or even destroy it. Of course, you can minimize this risk when you select your tenants by properly screening them, but still, you will have it.
Stepping into tenancy relationships, you should be familiar with both parties’ responsibilities regarding the safety of the other party’s property and goods. Thus, you can avoid or prevent most of future troubles. At BSO, we always recommend landlords who act on his own to study carefully all possible pitfalls.
When you rent your apartment in Dubai regularly, you know the process perfectly, as the rules haven’t been changed for a long time. However, if it is your first time, you may be little taken aback with all the steps you need to go through and legislation peculiarities.
Dubai authorities made huge progress in their effort to establish good relationships between landlords and their tenants when they clarified the landlords’ and tenant’s rights. In addition, the Real Estate Regulatory Authority has developed a unified tenancy contrast that is mandatory and contains typical clauses.