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RARE HOMES- HOLIDAY HOMES FAQ

What’s the advantage of short term let vs. long term let?

  • When you rent your property out as a short let for more than 40% of the year, you start to earn more rent than letting the property long term.
  • Have the flexibility of using the property yourself or for friends & family.
  • Avoid constraints of long term letting such as capped annual rental increase & sitting tenants.

What occupancy level can I hope to achieve?

  • In your first year 60% annual average occupancy is realistic.
  • In your second year 70% annual average is likely.
  • Years 3-5 should see a marginal increase.
  • Some months may run as low as 35% in the summer.
  • Some months may run as high as 100% in the busy season.

 How can I maximise my rental return?

 At short stay Dubai we grade all our properties depending on the facilities you can offer the tenant. A grade 3 properties will achieve a lower rate than a grade 5 property so you need to decide as a landlord what standard you are prepared to make your property for the tenant. While making this decision please keep in mind that In Dubai, service, standards and facilities are on the top of everyone’s list so properties that rent out well are the properties that can offer the following:

  • Internet connection, wireless, office use from home, telephone for incoming calls.
  • Swimming pool, gym, spa, fitness & health club or beach access.
  • Car parking facility – usually underground or reserved space.
  • Fully equipped kitchen with washing machine, dishwasher, items like bbq’s, juice machines, blenders, toasty makers, coffee machines, etc.
  • Good quality attractive modern furniture, good quality linens and fabrics.

In addition you may think about listing your property on our prestige portfolio where for a little value added management you can demand 5 star prices on your property.

What if my property doesn’t rent out?

  • The higher the standard of your property the more likely it will rent out well.
  • You can minimize the risk of vacant periods by ensuring the property is of a high standard and the rent is competitive with the market.
  • We can help maximize your occupancy levels by offering your property to our corporate clients.
  • However, there are no guarantees given by any short term rentals company in Dubai.

How much control do I have as a landlord?

• We ask that you give us exclusivity over the booking diary of your property. However we provide you with a unique log in code for our website so that you can make bookings yourself as and when you need to. Our system automatically tells us when you have done this.

What are the costs to me?

  • The cost of your mortgage/ finance on the property.
  • The cost of DEWA bills.
  • The cost of the internet connection.
  • The cost of the phone connection (for incoming calls only).
  • The cost of maintenance and repairs – general upkeep – painting, changing light bulbs, etc, anything that is not caused by the tenant.
  • The cost of the management by Rare Holiday Homes.

What if the tenant causes damage to my property?

During each tenancy we hold a security bond which we keep until 14 days after the tenant has departed so we can check for any breakages or damages caused by the tenant. We do not charge tenants for general wear and tear to the property.

Can I take bookings from other agents to minimize my risk?

Yes but you must log in yourself to block the property in the online diary so that our system lets us know the property is not available.

How do I receive my rent?

You give us your bank details and we make an automatic transfer at the end of every month, less our commission and any costs you have asked us to pay.

I need to furnish my apartment and get it ready can you help me?

We have 2 preferred suppliers who offer turnkey solutions to getting your property ready for short term rentals with us, and they will assist you in the whole process from design to delivery. We will provide you with these details when you receive our landlord information pack.

What’s the letting process from start to finish?

  • Upon enquiry we will send you a landlord information pack to read through which explains how your property must be prepared for the short term rentals market.
  • We make a valuation appointment with you to come and see your property and advise you what we can market the property for and the occupancy we think we can achieve for you, we will provide you with a tailor made rental calculator.
  • Once you decide to proceed you will sign terms & conditions with us after which we will photograph the property and upload it to the internet.
  • We will also create you a landlord log in and guide you through the booking system in order that you can make your own bookings on your property.
  • We continue to market your property and take bookings on your behalf until the expiree of your contract with us.

How involved do I have to be?

You can sit back and let us do the work; we like to have a contact for you in case we need to reach you in an emergency however. The more information you provide us with, the less likely we will have to call you during the management of tenancies. You do not need to be involved at all.

What if I want to block off weeks for my own personal use?

This is fine, just log into the system as soon as you know your dates and book it on the system.

Want to list your property for sale or rent? Our team of experts can do just that for you!

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Rare Homes Real Estate Broker is a company registered in Dubai, United Arab Emirates (License No. 799539), 6th Floor, The Onyx Tower 2, The Greens, Dubai, P.O. Box 939777. We are regulated by the Real Estate Regulatory Agency under office number 20695.