Dubai real estate leaders, Allsopp & Allsopp continue their business expansion with the launch of their short-term lettings department headed up by Maria Sale-Layug, who brings 15 years of experience after working in the industry since 2006.
The real estate experts aim to bring a full concierge service to their guests and an extensive property management service to property owners streamlining the short-term lettings process for all parties involved.
Lewis Allsopp, CEO of Allsopp & Allsopp says “As a business, we are always looking for ways to grow and reach a different clientele. Short-term lettings was the next step for us and if we are being honest, is a market we could have stepped into a couple of years ago. However, we’ve had a lot of growth in this time with stepping into the commercial market and creating and launching our own real estate technology, The Platform by Allsopp & Allsopp.
When we launch a new department we want to have all our ducks in a row before we go live. With short-term lets, we wanted to find the right person to head up the team and we have certainly found this in Maria. As well as 15 years of experience in the market, Maria has worked alongside the DTCM in the past to help bring about some of the rules and regulations in the industry. We have the business accolade and the market dominance in the Dubai real estate market but Maria brings an extensive knowledge and passion specifically for short-term lettings and we’re excited to see her excel in this role.’
Short-term lettings have recovered well post the Covid-19 lockdown in Dubai with enquiries coming from both guests and landlords as they navigate their way through the changes they have faced.
Maria explains “Short-term lettings is an industry that is recovering well due to the anxiousness of travellers. People who are travelling for business and with their families are looking to stay in private accommodation - they are opting against hotel stays to avoid overcrowding. Short-term lets give guests the opportunity to cook their own food and keep their social bubble small whilst still feeling as though they have had a holiday and a break from their usual surroundings.
Many landlords have enquired about short-term lets due to a change in circumstance and a repel from long-term commitments.
Maria continues “Short term lettings first and foremost offer a higher ROI for Landlords and secondly, it offers much more flexibility over the property. If a Landlord feels they might want to sell at some point, they don’t have to give the mandatory one year notice to a sitting tenant. If it’s a second property, landlords can earn an income but still have the property for their own use at periods throughout the year, or even retain the option to move back into it themselves, should the need arise at any point.
With rental prices low, investors are educating themselves on the short-term lettings market as they see more profit can be made and it gives them time to think about future plans they may have for the property whilst receiving an income from it. The option is always there for a landlord to revert back to the long term lettings market at any time, if they want to. “
The real estate leaders are looking to invest in the short-term industry to enhance guest and landlord experience by means of technology.
Allsopp explains “The real estate industry as a whole needs to modernise and adapt to the world we live in. If 2020 has taught us anything, it’s that people want to be able to do everything from the comfort of their home easily and efficiently. The Platform by Allsopp & Allsopp, launched in 2019 is only the first step into the Proptech world for Allsopp & Allsopp. We have plans and ambitions to take Proptech further and implement tech to serve the short-term lettings industry in Dubai.”