The rental market in Dubai is vast. 70% of Dubai residents prefer to rent their home rather than buy. If you have a property to let, there’s no doubt that the demand is there.
Yet, there’s also no doubt that letting a property can be time-consuming and expensive. Especially if you have the misfortune to struggle with problem tenants. At Espace, our years of experience have taught us all there is to know about this buoyant property market. This allows us to provide a service that landlords will want to take advantage of.
To try and assist landlords with the management of their letting, we created our property inventory and check-in services. These services provide landlords peace of mind when renting. We protect your investment for years to come.
Here’s how it works:
1. We create a document known as a ‘schedule of condition’ for your property. The document includes complete descriptions of the condition of the entire property. We cover a vast range of different areas. We include:
– The condition of walls, flooring, electrics, and plumbing
– A full inventory of appliances such as ovens, fridges, microwaves, and anything else that is provided with the rental
– A full inventory of furniture included with the rental, including a statement on the general condition of this furniture
– Details of any existing damage to the property, furniture, or appliances. This includes issues such as scuff marks on walls or dents in the superficial exterior of appliances.
The schedule of condition document is your protection when entering into a new lease. It states in detail the condition of your property before extending a lease to a tenant.
It also outlines any penalties that the tenant is liable for should your property not be respected. Standard wear and tear is allowed. Wear and tear is inevitable in any rental, whereas outright destruction will carry financial penalties.
2. Once a lease has been agreed, we’ll walk your tenant through the entire property. We’ll ask them to sign all paperwork. The paperwork that’s signed is their agreement with the terms that have been outlined in the schedule of condition document.
The current condition of the property is to be maintained throughout the tenancy. The agreement confirms the tenants understanding that they are aware of their obligations. We’ll also ensure that they understand the potential penalties if they fail to meet these obligations.
3. At the end of the tenancy, Espace will conduct a thorough inspection of the property. If we find unreasonable damage or destruction, we will deduct the appropriate penalty from the tenant’s deposit. We will then arrange for repair work to be completed, if necessary.
This service ensures that your property is going to be protected. You’ll have a comprehensive agreement in place with your tenant. Everyone will know where they stand on all points in the transaction.
Clients who have used our property inventory and check-in service have loved the security it provides them, so why not try it for yourself? We guarantee you’ll soon be wondering how you ever managed without it.