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Property Management?

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  #1  
Old 16-01-2008, 01:00 PM
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Default Property Management?

Hi,
I live in the UK and have an appartment in Dubai ready to rent late Feb.I am deciding whether I need to go for full property management or to just let a rental agency find a tenant and handle the cheques and save 6%.The only problems I can see is snagging so I would get an agency I have been in touch with to handle this for a small fee.Also,is it normal for the tenant to get the property registered in their name at DEWA or is that for the landlord to do?When my property is handed over will this be without running water or electricity until DEWA is contacted to get it connected?It just seems to me that 6% is alot to pay just so that an agent will go check on the property every 3 months.
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Old 16-01-2008, 04:37 PM
fws fws is offline
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6% is really cheap compared with UK management prices. The problem with not having an agent is how on earth you are going to deal with all the minor problems that invevitable come up. Do you know plumbers, electricians etc out there? You are paying for the tenants to have someone on hand to deal with problems that you won't be able to deal with yourself. In apartments there are always problems!
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Old 16-01-2008, 06:17 PM
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Yeah, 6% is cheap depending on the property but the average range is 6 to 10% depending on the specifics of the property and the scope of work....
RepublicPM
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Old 16-01-2008, 08:28 PM
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Quote:
Originally Posted by fws View Post
6% is really cheap compared with UK management prices. The problem with not having an agent is how on earth you are going to deal with all the minor problems that invevitable come up. Do you know plumbers, electricians etc out there? You are paying for the tenants to have someone on hand to deal with problems that you won't be able to deal with yourself. In apartments there are always problems!
There is a company called "hitches and glitches" who when paid a fixed sum every year, will look after the maintenance of the apartment. I do not have the tel number off hand but will try and get it.

The tenant goes to DEWA, pays a deposit of Dhs 1000 and gets his connection. It's recommended that once he signs the contract, you get a disconnection done from your side and you pay what you owe to DEWA. Once the tenant registers in his name he starts paying the DEWA bills.

Regards

Roshan
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