In this week's episode of Taking Care of Business, Operations Director Paul Kelly and General Manager Marc Walters explain the new changes that have taken effect across the Dubai Real Estate Market. One of these being that owners can now only list their properties for sale with a maximum of 3 brokers, however, Paul and Marc explain the substantial benefits of going even further, and listing with just one.

YT Cover_1.jpg

New Changes to the Dubai Real Estate Market

![A&A_MonthlyReport_September2022_ForWebsite_v8.jpg](https://strapiallsopp.s3.eu-west-1.amazonaws.com/A_and_A_Monthly_Report_September2022_For_Website_v8_bb2e605d23.jpg)

September Report_Thumbnail_Thumbnail.png

September 2022 Dubai Real Estate Market Snapshot

In this episode of Taking Care of Business, CEO Lewis Allsopp and COO Carl Allsopp share 14 business lessons that the pair have learned from 14 years since founding Allsopp & Allsopp back in 2008. They also discuss personal lessons that have shaped the two of them, and Allsopp & Allsopp as a company over the years.

Ep_59_YT.jpeg

14 Business Lessons for 14 Years in Business.

Overseas and intrigued about investing in Dubai? We've got you. Here's how you can do so.
To find out more, reach out to: Lee Weston on +971 58 577 8542 or click here to send a Whatsapp message: <a href="https://wa.link/fomxd9">https://wa.link/fomxd9</a> Amy Dixon on +971 58 545 7183 or click here to send a Whatsapp message: <a href="https://wa.link/zbl7v5">https://wa.link/zbl7v5</a>

Investment_in_Dubai.jpeg

Thinking of buying in Dubai even though you're not a resident? We've got the answers you need 

60 seconds with Anisha Sagar, Head of Property Management on one of the hottest topics of this year: Increasing rental prices.


While rental prices have taken a slight dip compared to June; it’s still a 17% increase compared to last year. This trend of higher rental prices is expected across Dubai.



Anisha_60n_sec_YT.jpg

Increasing rental prices in Dubai - watch to find out more!

In this week’s episode of Taking Care of Business, CEO Lewis Allsopp and COO Carl Allsopp start off by celebrating Allsopp & Allsopp’s 14 year anniversary which happened this week! They then take a look into data from The Dubai Land Department and Allsopp & Allsopp for August, to give you the most comprehensive report on the current market conditions.



EP_57.jpg

What happened this August in the Dubai Real Estate Market? 

![AA MonthlyReport August2022 ForWebsite](https://strapiallsopp.s3.eu-west-1.amazonaws.com/AA_Monthly_Report_August2022_For_Website_bf4ac9de79.jpg)


Looking for mortgage rates? [Click Here](dubai/mortgages)
---------------------------------------------------------



August_Report_Thumbnail.jpg

 August 2022 Dubai Real Estate Market Snapshot

*Anisha Sagar, Head of property management with Allsopp & Allsopp, describes the benefits to landlords of getting their property portfolios managed by a team of professional experts.*


**What is Property Management?**


Property Management is a service given to owners to take away the stress and niggles of managing their property. A Property Management body is a mediatory party between an owner and a tenant to take care of an owners’ investment and ensure all of the regulatory items are taken care of including schedule of condition reports, rental cheques, maintenance management and ensuring correct notices are given to the tenants.


**What is the biggest benefit of Property Management?**


The biggest benefit of having a property managed is definitely the peace of mind it gives the owner.  Landlords can relax knowing that there is an impartial third party protecting their property, deposit and tenant.  Property managers will take care of and manage the often time consuming day-to-day problems that may arise.


**What services can Landlords expect from Property Management?**


The landlords can expect an array of services to ensure their investment property is managed to the highest standard and ease their workload and stresses:


* Collection and safe keeping of deposit.
* Tenant Screening and documentation collection.
* Accompanied viewings with prospective tenants.
* Advertising your apartment on Dubizzle, Property Finder and all other leading websites.
* Preparation of the tenancy agreement.
* Move in preparation paint, clean, pest control, A/C (maintenance at additional cost).
* DEWA connection for both landlord and tenant.
* Key Handover/Tenant Check in.
* Register tenancy with Ejari.
* Rent collection arrangement.
* Management of failed rental payments.
* Financial Reporting.
* RERA Compliance.
* Tenant & maintenance management
* Renewal of Contracts including negotiation of contract changes.


**Who typically has their property managed?**


Landlords who want to remove the stress and headache of what can come with renting out their investment property will benefit greatly from having their property managed. Many landlords may live overseas in a different time zone or similarly landlords who may travel for work. A large majority of Allsopp & Allsopp’s property management clients have a vast property portfolio and find the property management service extremely beneficial.


**Is the service available 24hrs, 7 days a week?**


The property management team is contactable 7 days a week. Our online application - Happy Tenant is a platform for both tenants and landlords. It allows tenants to log their maintenance requests directly from their phone and landlords can make payments via their wallet on the application. Our property management team can then liaise with trusted contractors who are on hand 24hrs a day.


**Under what circumstances will the landlord be contacted?**


Landlords are mainly contacted to give consent for maintenance works on their property. From there an agreement will be made with the property management team on the best way to move forward with contractors. A landlord will also be contacted to receive an update on their investment. Updates on the property can be given weekly, monthly or annually depending on the landlord’s preference. 


**How many times will a property be inspected?**


The property management team conducts a check-in and check-out inspection where they will take photographs of the condition of the property. The visual inspections are very thorough and look at floor to ceiling, internal and external aspects of the property. As well as this, fixtures and fittings are checked along with appliances and overall condition of the entire property.


**How does a landlord get a rental increase on a property?**


As per RERA Law an owner can only get a rental increase on a unit if the RERA Calculator permits this.  The Dubai Land Department regulates all increases based on the current market conditions. If a rental increase is permitted, this should be applied 90 days prior to the expiry of the contract to give the tenant due notice.  


**How many days’ notice will a landlord have to give a tenant to vacate the property?**


If an owner wishes for a tenant to vacate the unit then they will have to give the tenant 365 days’ notice and should be for the following reasons:


* The property is their only place of residence
* Selling the unit
* Non-payment of rent
* The unit is inhabitable


**How important is a property inventory?**


A property inventory, in my opinion, is the most important part of the service. It is a professional report recording the condition of the property. The property inventory protects the owner against damage on their investment and ensures that should there be any dispute on the condition of the unit, there is a professional report that both parties can refer to.



The_Benefits_of_Property_Management_Explained.jpg

The Benefits of Property Management Explained

How have tenants and landlords come together over the last 3 months and what options do they have going forward? Hear Paul Kelly, Operations Director, on DubaiEye this morning talking about Property Management during the Covid-19 pandemic.




Property_Management_in_a_pandemic_Thumbnail_3.jpg

The lockdown effect of Property Management

Allsopp & Allsopp’s [property management](/dubai/landlords/property-management-services-dubai) team have faced many challenges over the last 3 months and have worked tirelessly to assist their clients through such unprecedented times.


[Anisha Sagar](/dubai/about-us/our-team/203-head-of-department/289-anisha-sagar), Head of Property Management talks about the challenges faced by all parties and how the property management team have been tackling these issues.


![Anisha Sagar Head of Property Management-Allsopp & Allsopp](https://strapiallsopp.s3.eu-west-1.amazonaws.com/Anisha_Sagar_Head_of_Property_Management_e514cfbc09.jpg)


**The challenges**
------------------


We have had many clients who have found themselves in a difficult situation over the past few weeks and months and we have found ourselves solving problems we have never had the experience in dealing with before just like the majority of our clients.


Some of our clients' tenants have lost their jobs and have been looking for reductions in rent and we have also had landlords who rely solely on rental income or who have also lost their jobs. The team have had to come up with quick solutions which are adaptable and suitable for both the tenant and landlord.


**Landlords are affected too**
------------------------------


Many people have a stereotype of a landlord who they often imagine to have lots of money and lots of properties but that isn’t always the case. More often than not, landlords will have one or two properties, have a full time job and rely on the rental income from those properties to perhaps pay the mortgage. During the Covid 19 pandemic, some landlords have found themselves in similar situations as their tenants and have incurred a wage reduction or have lost their job completely and for those landlords, they now rely solely on their rental income.


**Negotiations**
----------------


As a property manager, we have had situations where we have come up with a payment plan for tenants to pay landlords. In a number of cases, increasing the amount of cheques has been a huge help to a tenant and welcomed by the landlord but in other cases a rental reduction has had to come into play. Of course, in these situations we need to see proof of loss of income and negotiations will have to take place with the landlord. Temporary measures are also an option at times with only a short term rent reduction. In all cases new contracts need to be signed and agreed by both parties.


**Tenants overseas**
--------------------


We have had instances where tenants have been abroad on holiday or for work and their tenancy agreement has expired in the meantime. This has not been a problem if they wish to renew, however, if they wish to vacate the property, it is important for the landlord to get the property back on the market as soon as possible and have all previous tenants' belongings collected from the property. In this case, we have found ourselves packing up tenants belongings and sending these overseas to them on their behalf. In other cases, tenants and landlords have had to come to an agreement on a temporary extension on the lease of the property with the tenant paying monthly until they can return and vacate the property themselves.


**Ending tenancy early**
------------------------


Sadly, we have had some tenants who have had to end their rental contract early for one reason or another and this has been difficult. Tenants who have lost their jobs have disputed the 2 month fee to break the contract. According to RERA, a loss of job diminishes the 2 month penalty fee from the contract as long as proof has been shown. Luckily, working alongside a team of rental agents at Allsopp & Allsopp has meant we have a database of clients who are actively looking for properties to rent and can line a tenant up for the property as quickly as possible so the landlord isn’t losing out on rental income for a long period of time and more often than not, don’t have to remarket the property online.


**Landlords looking for Property Management**
---------------------------------------------


The Property Management team has been contacted by a number of landlords who are looking for someone to manage their properties as they are overseas or are looking for a little extra help. Landlords are happy to have someone take a little pressure and stress from them as I am sure the pandemic has affected them in some way. Being in a different country can make things that little bit more challenging when owning an investment property, property managers can take this on on behalf of the landlord and ensure their property needs are dealt with accordingly and to ensure their property is well looked after in their absence with maintenance contractors on hand 24/7.


We have also had a number of landlords contact us to arrange the handovers of their properties in new developments. Property Managers can obtain power of attorney on the landlord's behalf and ensure snagging is complete and conduct a move-in inventory when they find a suitable tenant.



Keeping you up to date with everything that is happening in the Dubai property market.

Services

About

Our Offices