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How to Manage a Large Portfolio of Real Estate Properties in Dubai?

Dubai, UAE is now one of the most lucrative locations for property investments. With no property tax and world-class amenities, Dubai stands as the mo

Dubai, UAE is now one of the most lucrative locations for property investments. With no property tax and world-class amenities, Dubai stands as the most sought place for real estate investments. Additionally, the dynamic population makes the real estate market fiercely competitive.

Though the Dubai real estate market is relatively new compared to other prominent cities, the rental returns are unparalleled. Ranked as one of the highest capital appreciation cities, the UAE real estate investment market offers more than double the returns of other developed markets. 

Making a large portfolio of real estate properties in Dubai, UAE is not a cakewalk. Dubai real estate investments offer an elevated rental yield compared to similar metropolitan cities. If you are considering a career in real estate investments in Dubai, you need to understand the market dynamics while assessing your risk appetite.

Location is the Key

The Internet has made it easy to collect information on rental properties around the world. If you want to manage a large portfolio of buy to let priorities in Dubai, try acquiring multiple properties in the same location or nearby areas. You can opt for multiple buy-to-let assets in a single apartment block or look for individual priorities in the same vicinity. This will improve your tenant communication while assisting with your rental property management.

Additionally, decide whether you want to opt for areas yielding high rentals or locations offering high capital appreciation in Dubai. Dubai Business Bay, Dubai Sports City, Dubai Silicon Oasis, Discovery Gardens, International City, Jumeirah Village Circle, and International Media Production Zone are some of the highest rental yielding locations in Dubai. Whereas, areas such as Downtown Dubai, Bluewaters Island, Emirates Hills, Palm Jumeirah, and others are known to offer unparalleled capital appreciation. 

Say Yes to Assistance 

Well, being frugal may get counter-productive when you are trying to manage real estate properties in a highly competitive market like Dubai. If you own a large portfolio of buy-to-let assets, it’s time to look for a personal assistant be it conventional or virtual.

They will assist with your property checks, repairs, certificate updates, tenancy agreements, and maintenance. If you don’t want to appoint a property management company yet, hiring an assistant will be your best bet. 

Finance, Debt, and Refinancing 

Debt serves as a crucial component of long-term growth in property management Dubai. You need to monitor and manage your debt well to increase your rental returns. As you keep increasing your rental portfolio, it is essential to keep your income and outgoings under tight control. This will allow you to refinance debt better and align with your preferences.

Working on a large portfolio also enables you to expand your relationship with property mortgage providers. This will, in turn, allow you to cut down on your finance costs and improve your savings.

Savings on your debt is the key to improve your portfolio management in Dubai. By balancing your debts and refinancing methods, you can accomplish growth in the long run. 

Appoint an Accountant

When looking for investing in rental properties, it is essential to have an in-depth understanding of the legal issues. You will be often faced with issues like tax charges, rental rates, cost offsets, and eviction notices. This makes it worthwhile to work with an accountant to ensure better portfolio management of your real estate assets. 

They will assist you with the tax and legal issues to ensure better capital appreciation. Hiring an accountant is often seen as an investment rather than a cost.  If you need someone to assist you in tax charges, allowable deductions, and investment finances, opting for an accountant is the best solution. 

Boost Property Value

As a real estate agent, you must know that your property value may depreciate over time if you fail to manage it properly. However, if you ensure the right upkeep of your property, its market value will increase significantly. 

Managing a large portfolio of real estate properties requires the right upgrades that will secure a steady increase of your property’s value. Working with a portfolio manager will be your best bet if you are aiming to grow your portfolio more in the future. 

Additionally, you must ensure a steady cash flow that will improve your monthly revenues, pay off existing mortgages, and finance your property investments. You must also try to increase your cash flow by creating rental agreements that generate more profits while cutting down costs. 

Property Management Company For Asset Marketing 

When your real estate portfolio starts to grow, you need to focus on both the major issues as well as the minor matters. Appointing a reliable property management company will allow you to look after all the legal, tax, and other affairs of your property.

Asset marketing is one of the most crucial components of portfolio management. The in-house property marketing team of property management companies will ensure that your property appears on the radar of each interested tenant. They will also create listings to promote your property and attract tenants who are looking for rental properties. 

Working with a property management company will provide the ideal environment for your property portfolio to grow. If you want to further improve your rental returns, it will be worthwhile to see a property management company as a long-term investment rather than an additional cost. These companies have contacts across the maintenance industry, financial markets, and insurance sectors. Additionally, they have better knowledge to manage your properties on an everyday basis 

Summing Up

The Dubai real estate market is continuously growing making it more competitive. The legal and regulatory framework surrounding real estate rental properties in Dubai is expanding continuously. This creates a high possibility of oversights and errors which will ultimately prove to be costly for your portfolio management. 

If you want to manage a large portfolio of real estate properties in Dubai, the first step is to improve your skills and knowledge. Additionally, you need to hire third parties like accountants or portfolio management companies to cover the management areas where you lack adequate experience or expertise.

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