Have you ever heard about property management companies in Dubai and Abu Dhabi? It's advisable to explore the list of property management companies in the UAE before purchasing an apartment or villa. While managing your property on your own is possible, entrusting it to professionals can significantly enhance your convenience and peace of mind, especially if you're investing in UAE real estate without plans for permanent residency. Take a look at our compilation of the top property management companies in the UAE, with a specific focus on real estate management in Dubai. Continue reading to discover the range of services they offer and their associated costs.
About Property Management Companies
What is a property management in UAE? A property manager is someone you hire to oversee and manage your property. You have the option to delegate these responsibilities to an individual or engage the services of a property management company. The latter assists property owners in optimizing their asset's profitability by efficiently utilizing its resources. A property management company can prepare your apartment or villa for rental and handle legal matters, which is particularly convenient if you're considering short-term rentals for multiple apartments.
Who can use property management? Property management companies can provide significant assistance to real estate owners, especially those residing outside the UAE. However, they can also be invaluable for individuals living within the country, particularly if they lead busy lives and have demanding work schedules.
Provided Services
So, what are the property management services? Property management companies typically provide a comprehensive array of services, and clients can select from various service packages. The company's commission is determined by the specific services included in each package.
Property management companies can help you with
- Signing a contract between the owner and the tenant in accordance with local laws;
- Representing owner's interests while they're away;
- Maintaining the property (minor repairs and other requests from the tenants);
- Advertising your real estate;
- Showing vacant units (apartments, villas and offices) and finding tenants;
- Extending current rental agreements;
- Collecting, depositing and transferring rent to the owner.
Photo by Drazen Zigic (Freepik)
Pros and Cons of Hiring a Property Management Company
What should you know before working with property management company? Working with a property management company has its advantages and disadvantages. On one hand, it provides flexibility and allows you to invest in properties in different cities around the world, helping diversify risks. If you own multiple apartments or office units and want to rent them out, hiring a manager is a smart choice. Property managers can also be highly beneficial for full-time workers who are busy with other tasks.
Property managers will free you from the burden of dealing with property-related problems. As professionals handle property management, maintenance, and legal issues, owners can focus on generating profits.
On the flip side, there are some clear downsides to consider. Hiring a property management company may be inconvenient for those who like to maintain control over every aspect. Letting go of control and placing trust in your managers is crucial. As the owner, you have the right to request reports on the condition of your property from the managers, but you can't dictate how they do their work. Disagreements between the property owner and the manager may arise, particularly when it comes to selecting tenants. In such cases, it's important to recognize that the manager has the final say in these decisions. Additionally, owners are required to share their profits with the management company.
How Much It Costs
The commission charged by property management companies depends on several factors. Firstly, consider the type and location of your property, as well as the service package you've selected. Additionally, the cost of services may vary based on the type of lease. For short-term rental properties, the company's fee can range up to 20% of your profit, whereas long-term rentals generally incur lower fees. In Dubai, property management companies typically charge between 6% and 12% of the property's monthly income.
However, this is not always the case. Some companies charge for specific services they provide, such as management, maintenance, leasing fees, commission for renewing the rental agreement, and other related services.
Azizi Samia Residence (Housearch)
Top 15 Property Management Companies in the UAE
The Property
The first company of the real estate management companies in Dubai is The Property. The Property offers a comprehensive range of real estate management services in Dubai. They manage both residential and commercial units, as well as entire buildings. The company's employees can handle tasks such as property advertising, conducting background checks on potential tenants, drafting rental agreements, and coordinating move-ins and move-outs. Additionally, they can perform annual property inspections and provide consultation services for buying or selling real estate. The Property has been serving the market for over 10 years.
The company is guided by principles of transparency, security, high-quality services, and a commitment to ensuring maximum profitability for property owners. The managers diligently report any changes related to the rented property and its income. As a result, landlords can stay well-informed and free from any concerns. If you happen to own multiple apartments, you can access information about your real estate portfolio and key figures online.
Next Level Real Estate
Next Level Real Estate is another company with over 10 years of experience in managing real estate in Dubai. It offers a wide range of services for both residential and commercial properties. The company's mission is to ensure satisfaction for all parties, including landlords and tenants. Next Level Real Estate has received numerous positive reviews and reports.
What are the key principles of this property management company in Dubai? The company's employees ensure that every step of the renting-out process is supervised by the manager, making it as stress-free as possible. Their goal is to maximize profit for the property owner.
BSO
The next property management company in Dubai is BSO. BSO has been operating in Dubai's property market for several years, primarily focusing on residential real estate. BSO managers assess the property and provide regular reports to the owner. They also handle property leasing, rent collection, and resolution of rental disputes, all while minimizing the owners' involvement in these matters.
Why should you choose this property management company in Dubai? BSO's team includes some of the finest real estate lawyers in Dubai, ensuring impeccable legal services. As a property owner, you won't have to grapple with any legal intricacies; BSO's professionals will handle everything on your behalf.
In addition to the UAE, BSO operates in approximately 30 other countries. The company's portfolio encompasses around a hundred large-scale properties in Dubai alone. BSO's clients typically achieve an average ROI of 7%.
Beach Isle (Housearch)
Manage My Property
The Manage My Property company also offers the property management services in Dubai. The company was founded in 2007, and in the 15 years of its operation, it has risen to the top of the Dubai real estate market. The employees promise to alleviate any possible stress associated with managing their clients' properties. The list of services provided includes marketing, tenant selection and assessment, move-in/move-out assistance, registering lease contracts with EJARI, handling payments, and much more.
Owners have 24/7 access to reports on their properties. If you own multiple apartments, you can view the balance sheet for each of them separately. For clients' convenience, the company has developed a mobile application available for both iOS and Android.
Zidan Management Group (ZMG)
Another one property management company in Dubai is Zidan Management Group (ZMG). This company has been operating for over 20 years in Dubai and Sharjah. Interestingly, the owner is American, and the service also operates in the USA and across the Persian Gulf. Zidan Management Group specializes in both commercial and residential real estate, including apartments, condos, and villas. The service manages a total of over 5,000 properties. In addition to handling the rental process, ZMG also offers services for selling your real estate.
Blueground
The Blueground company works not only in Dubai but offers property management services abroad. This company was founded in Greece nearly a decade ago and currently operates in Dubai, Greece, and Turkey. In Dubai, Blueground manages approximately 400 apartments. While their portfolio may seem relatively small, it's worth noting that the company has collaborated with major organizations such as Coca-Cola, Siemens, LG, and Samsung.
Blueground operates by leasing upscale properties from owners and then furnishing them. These properties are subsequently rented out to top-level executives who are traveling to Dubai for extended stays, typically lasting a month or more. But why is this arrangement profitable for property owners? Blueground offers long-term leases, typically spanning three to five years, effectively relieving property owners of any management hassles during this period. Additionally, even if your apartment remais unoccupied, you, as the landlord, will still receive rental income from Blueground.
Kensington Waters (Housearch)
ASTECO
Interested in property management companies in Abu Dhabi ? Take a look at ASTECO. This company operates not only in Dubai but also in Abu Dhabi and Sharjah, as well as in Jordan and Saudi Arabia. Unlike many similar companies, ASTECO doesn't limit itself to a particular real estate niche but handles a wide range of properties, including mixed-use projects. Currently, the company manages over 13,000 properties located in approximately 400 structures.
ASTECO has a diverse portfolio of large-scale clients, including Alain Properties, Abu Dhabi Finance, and Al Abba Group. The company's exceptional work has earned it several international awards in the real estate industry.
ASTECO predominantly employs specialists from North America and Europe who are fluent in several languages. Their comprehensive list of services includes online property promotion, real estate valuation and consulting, property sales, leasing, and asset management.
Provident Estate
If you are in search of Dubai property management companies that speak your language, Provident Estate is a right choice. This company is dedicated to assisting people from various countries, with Provident Estate employees proficient in 20 different languages.
The company was founded in 2008 and within the first two years of operation, it earned a place on the list of the best companies in Dubai. Provident Estate has also received an ISO certificate, confirming their management's compliance with quality standards. The company has won several international awards, including one for the best website, highlighting its commitment to transparency and client-friendliness.
Among the services the company provides are the management of residential, commercial, and industrial real estate. Provident Estate's portfolio includes apartments, vacation homes, townhouses, villas, and offices. You can opt for a full management package (with a service fee of 8% commission) or choose to contract only the rental services (at a 5% commission).
Colliers International
As one of the largest international companies, Colliers employs over 15,000 people from about 70 countries around the globe, including the United Arab Emirates. Colliers is a company with a rich history that dates back to the 19th century, setting it apart from its competitors.
For those who seek a property management in Abu Dhabi, we recommend Colliers International company. In the UAE, Colliers has offices in Dubai and Abu Dhabi, offering comprehensive services to both businesses and private individuals. Colliers collaborates with tenants, manages entire properties, and oversees financial matters. Their experts handle rent collection, provide reports on property conditions and returns, and offer strategic guidance for investment management.
DT1 (Housearch)
Better Homes
If you look for the experienced real estate property management companies in Dubai, take a look at Better Homes. This company is a true veteran on the Dubai market. Linda Mahoney founded Better Homes 40 years ago. She moved from Canada to Dubai trading a profession of a nurse for a career in real estate.
In addition to the UAE, Better Homes also maintains offices in Qatar. The company oversees more than 5,000 real estate units and employs over 500 professionals. Better Homes has collaborated with prominent local developers, including Emaar, on various projects, such as The Lakes. The company has received international recognition for its exceptional sales performance. The occupancy rate for properties managed by Better Homes stands at approximately 95%.
Yallarent
This company is well-suited for individuals seeking short-term leases. It specializes in listing properties on platforms like Booking, Airbnb, TripAdvisor, and other services that facilitate short-term rentals of apartments or homes for overnight stays.
With this specialization, the company has invested in round-the-clock customer service. Its specialists are available to assist both guests and owners 24/7.
The company promises its landlords up to a 40% return. Yallarent charges a commission ranging from 6% to 20% of the profit for its services. The full package, which is the most expensive, covers everything from marketing to tenant assessment and repairs.
Key One Properties
This company's specialists are also available around the clock. Additionally, they offer free in-home consultations. Key One Properties has a flexible approach to online payments. Some services won't cost you anything, including home consultations, apartment examination, key handover, and tenant meetings.
Key One Properties is part of the Key One Realty group. In addition to Key One Properties, which manages real estate and long-term rentals, the group includes Key One Homes (short-term rental services for vacations) and Key One Real Estate (real estate agent services).
Deluxe Holiday Homes
This company specializes in vacation real estate. Their portfolio includes over 350 luxury villas and furnished apartments. Deluxe Holiday Homes has received several international awards and has garnered significant positive feedback from both property owners and guests.
West Gate Real Estate
This company has been in operation for over 15 years, providing services for both residential and commercial real estate. They assist with property purchases, sales, and rentals, offering comprehensive support such as document preparation, contract registration, dispute resolution, property promotion, and more.
Wilton Terraces (Housearch)
Binayah
This company has been operating for over 15 years, and despite its extensive experience, it continues to evolve. In recent years, Binayah's specialists have collaborated with some of the top developers in the Dubai market, including DAMAC, Nakheel, Dubai Properties, and Emaar. In addition to Dubai, the company also has offices in London and Muscat, Oman. What is more, Binayah offers property management in Abu Dhabi.
Binayah offers a comprehensive range of services, including asset management, property sales, rentals, and commercial property management brokerage.
Owners can access their website for valuable information about the current real estate market. The company will take care of all marketing, financial calculations, property maintenance, and conflict resolution. They will also provide a detailed report on the work done.
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In a Nutshell
Why should you use the services of properties management companies in UAE? Contracting a reputable management company is your opportunity to entrust professionals with the responsibility of buying, selling, or renting out your property. This article provides a list of property management companies in Dubai. There are also some property management companies that work in Abu Dhabi. In the Dubai market, there are numerous companies with over a decade of experience, a wealth of positive client feedback, and international awards. It's advisable to consider hiring a management company, especially if you own multiple apartments or villas. This option is also suitable for property owners who plan to be out of the country for an extended period and cannot personally oversee their properties.
Cover: Bluewaters Bay (Housearch)
