Noor and Rami have been planning their 12 months overseas travel adventure for quite some time now. They wanted to ensure they had their mortgage covered, whilst having some flexibility to return to their property if they needed to. Their main concern was how to choose the right holiday home management company.
- Location: The Palm Jumeirah, Dubai
- Surface: 135sqm (1,450 sq ft)
- Start of management: January 2022
- Type: 2-bedroom apartment
Rental yield too low and concerns about damage
After doing a bit of research, they found that a traditional rental would not be enough to cover their mortgage. Their mortgage is approx. AED8,925pcm, and the value of their property on the long-let market is AED8,682pcm.
As the apartment is their main residence, they want to ensure the safety of their property, and they’ve also heard many stories about tenants refusing to pay their rent or to vacate the property.
Managing their Airbnb while being on vacation
Noor and Rami also wanted to ensure their apartment was being looked after whilst they were away. For instance, they want to make sure they don’t have to deal with maintenance while they are relaxing on the beach.
Extra income to spend money abroad and enjoy their travel would also be a bonus too.
They both contacted us in October 2021 to see if there was a way they could increase their rental income, but also have their risks managed by a professional management company.
The implementation of a tailor-made strategy with our holiday home management
After speaking with our letting experts, our team implemented a strategy for Noor and Rami. Together, we set (setted c’est pas anglais je crois) the following goals:
- Increase rental income for their 12 months period to cover their mortgage, bills, and offer them a little extra.
- Vet each and every guest and take care of their property while they are away (housekeeping, linen, maintenance, guest communications, etc.)
We first took beautiful and professional photos of their property. And then, ensured their property is given full marketing exposure on the best platforms: Airbnb, Booking.com, Tripadvisor and Vrbo etc.
The end results: mission accomplished !
In just a few hours after publishing their property, we received their first booking on Airbnb. Following that, the property was quickly booked as summer approaches. With an average daily rate piquing at AED1,050 per night, their rental income was over 3 times higher than traditional lets.
Previous reviews, ID checks, the reason for stays: each guest has been vetted under some of these criteria. We also requested a deposit, to cover costs in case of damages.
What’s more? During the winter months, our sales team also secured a medium term let of 4 months at AED12,395pcm. To whom? Two German computer engineers working on a short project in Dubai.
Our team thoroughly checked their working references. We also requested the 4 months’ rent to be paid upfront for the term, to guarantee a zero risk of non-payment.
In addition, our check-in services, professional maintenance, and Nestify tech-infused housekeeping gives Noor and Rami a complete peace of mind. They are guaranteed that their home is in good hands all the time.
Finally, their personal landlord dashboard gave them full access to their bookings and calendar. Then, they had the possibility to block dates anytime they were travelling back to Dubai for a few days. They also had a view on each booking and monthly income from anywhere in the world.
Thanks to our full service, their rental income was high enough to cover all their expenses (mortgages, bills, travel and personal expenses) for the 12 months . Noor and Rami were able to enjoy their vacation in peace knowing that our experts are managing their Airbnbpr operty as well as their guests.