Emma, haus & haus recently introduced their freshest department: Short Term Leasing, which is led by you. Please let us know a bit about your professional background and why you believe this sector has a great future for Dubai investors.
“I have been working in the Short Term rental sector for many years now in Dubai, therefore I have had the opportunity to see the market excel in this area and watch investors take advantage of the money they can earn. With around 15 million tourists visiting Dubai a year they are continuously looking for a more cost effective, comfortable alternative to hotels, this is where landlords are benefiting and renting their own apartments out in this current low market.”
Short term vs. long term rentals: What are the factors a landlord or investor needs to consider in order to make the right decision?
“A landlord or investor needs to consider how much revenue they could make whilst their property is potentially sitting there empty. Leasing Long Term is great if you can find the right tenant paying the market price quickly, however Leasing Short Term is an attractive solution when they are struggling to get the property occupied, it also gives the landlord the flexibility to use the property themselves as a holiday home with the ability to continue to market their property for sale.”
"With around 15 million tourists visiting Dubai a year they are continuously looking for a more cost effective, comfortable alternative to hotels, this is where landlords are benefiting and renting their own apartments out in this current low market.”
Emma Campbell, Head of Operations – Short Term Leasing at haus & haus Holiday Rentals
Can you tell us more about the target audience that is interested in occupying Dubai short term rentals? Are these mostly tourists or local people?
“We cater for every need, our clientele is a mixture of international and local guests. They range from holiday makers wanting an apartment on the beach to corporate travellers looking to be in the financial district.”
What would you say are the major 5 benefits of short term rentals? For investors/ landlords and occupants?
• Increased rental income
• Opportunity to use the property themselves for a holiday home
• Flexibility to keep marketing the property for sale
• Not tied into long term contracts
• Reduced vacant periods
• More cost effective than hotels
• Families can all stay together rather than in separate rooms
• No legal documents needed like a long term rental
• No utility bills to pay or furnishings to be done
• Property is controlled and well maintained constantly
How difficult is it to transform a property into a ‘holiday’ home, with regards to furniture etc.?
“It is very easy to transform your property, my tips are to keep the furnishings simple and neutral colours to appeal to the wider audience. Many companies like ourselves offer to do this on your behalf so it is hassle free, we are able to match different price categories and styles.”
In Dubai, a home owner can operate his/her property for short term leasing on their own (licensed operator); why would you recommend to hire an agency for the process?
“The amount of work that is put into managing a property so it is ready for guests is tremendous. Most landlords are busy with work themselves to worry about checking guests in the middle of the night and sourcing reputable companies for housekeeping/ maintenance. Holiday home companies have the right platforms and database to market the property in the correct licensed way too.”
How do you see the trend of short term rentals for the next 5 years?
“I see nothing but a huge incline, especially with expo 2020 next year. Short Term Leasing is the future.”