Qualities To Look For When Hiring a Property Manager or Property Management Firm

 

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Commercial real estate owners can benefit greatly from hiring property managers, but how to know who is right for the job? There are countless property management companies in Abu Dhabi, which is why choosing one can seem like a daunting task. There are, however, some telltale signs and attributes that make reliable and efficient property managers stand out from the rest. Knowing what qualities you should look for in a property manager can make the selection process much easier and smoother. So, while interviewing potential candidates, check if they possess the following qualities.

Organizational skills:

Do they seem organized? Most of the top property management companies in UAE manage everything from vacancies, showings, rental activity to rent collection, maintenance, and repairs. Without impeccable organizational skills, a property manager will never be able to fulfill his or her duties. To do all the work in an organized manner, property managers need to be comfortable using databases, spreadsheets, and various other project management tools.

People skills:

A large chunk of a property manager’s work involves dealing with people. Servicing existing tenants, showing units to potential tenants, and supervising the maintenance crew are only a few aspects of it. Without exceptional people skills, doing all that efficiently on a regular basis is simply not possible. Property management companies in Abu Dhabi put a lot of emphasis on hiring professionals who are good with people and that includes dealing with clients as well.

Time management:

Managing a commercial property involves several moving pieces. A property manager is responsible for every little thing associated with the property. A typical workday may include meeting five potential tenants and showing them the units, fixing the pool pump or the toilet that suddenly went bust, and taking care of other miscellaneous stuff. A property manager needs to be ready to deal with the necessary, the known, and the unknown. That is why efficient management of time is a huge priority for the property management companies in UAE.

Ability to work with modern technology:

Although real estate has not been too affected by disruptive technology, the sector has seen some significant changes. For example, these days, property listings are promoted and distributed digitally. Invoicing and collection, from both the rent management and vendor perspective, are often handled through various apps or programs. Although property managers may still need to maintain hard copies and paper systems, they cannot be solely reliant on it. The leading property management companies in Abu Dhabi are fairly tech savvy and they have kept up with the changing times.

Marketing skills:

Did you know that hiring property management companies in UAE also means you get marketing pros by your side? Marketing is a huge part of property management, and the professional you hire should know where to post property listings to attract ideal tenants. They should also be able to promote your property in the right manner on platforms that will generate the best responses. If you have several apartment units or a vacation rental in a touristy resort area, only being listed on a website may not do the trick. Your property manager will need to come up with a solid marketing strategy.

A strong network of vendors:

When you hire one of the reputed property management companies in Abu Dhabi, you get access to a wide network of vendors and contractors. Because property managers are responsible for overseeing the upkeep of the property, they need to have a strong network of handymen, tree care service, pool service, carpet cleaning service, repairmen, plumbers and so on. Even if you hire a professional who does not already have a network, they should be able to build one quickly. Furthermore, they should be able to evaluate and negotiate costs with the vendors and contractors.

Responsiveness and understanding:

Property management companies in UAE can make your life easy by handling all kinds of queries related to your property. Since they will handle the marketing aspect, they will also need to be responsive to inbound leads. A property manager who vigorously advertises on social media but does not respond to messages or queries in their inbox is not the right person for the job. An ideal property manager is also good at understanding what a person needs, identifying potential solutions to problems, and walking people through them.

Proactive attitude towards security:

A good property manager is never callous about security. Gone are the days when security measures simply involved bars on windows and deadbolts. Today, tenants may enquire about doorbell videos, smart locks, proximity sensors and other modern security technologies. A property manager should know about the various security options and they should also be able to explain what measures they are using and why. Most of all, a property manager should keep the building secure and make the occupants feel safe.

Wrapping up

A good property manager has several great qualities. While some of these attributes are innate, others are acquired through years of work in the industry. When interviewing potential candidates, you should ask questions that will address these issues or at least help you get a sense of whether or not they possess the qualities you are looking for. Aside from the attributes we mentioned above, a property manager should also be flexible, ingenious, professional, and patient.

If you are looking for property managers who possess all these qualities and more, check out RiseUp, one of the leading property management companies in UAE. With years of experience in managing commercial properties, RiseUp has both the manpower and the resources to help you. The professionals here at the company have worked with real estate investors from around the world. That is why they have a unique understanding of what you need when you give them the responsibility of managing your investment property. No matter what type of property you own, if you need experienced and efficient property managers, get in touch with RiseUp. Give th

Real Estate Portfolio Management In Dubai | What Do We Say?

Portfolio Management Services in Dubai
REAL ESTATE PORTFOLIO MANAGEMENT SERVICES IN DUBAI

Hiring a unique portfolio management services in Dubai could be the secret to your success as a real estate investor in the city. If you have never worked with one before, you might think that they are just like a financial asset manager. However, in real estate, portfolio managers have a different role. In fact, real estate portfolio management is radically different from managing assets such as mutual funds, bonds, equities and so on.

Typically, equity managers need to research firms and manage the probability of them fulfilling their articulated strategies. However, portfolio management services in Dubai are responsible for defining and taking advantage of opportunities in the real estate market. From managing risks and allocating assets to handling transactions and dealing with the land and structures on it, real estate portfolio managers do it all.

Therefore, unlike traditional money managers, real estate asset managers focus on optimizing the value of your investment properties. In fact, portfolio managers function a lot like corporate CEOs in that they are running a facility much like a company. In contrast, money managers typically know of stocks of a certain sector or field, but they do not involve themselves in the company operations themselves.

What can a unique portfolio management company Dubai offer you?

Companies that offer portfolio management services in Dubai typically have teams of experts who are trained much like other fund managers. The professionals use their skills and experience to ensure portfolio performance. In some cases, portfolio managers are rated based on their ability to produce appropriate risk-adjusted portfolio diversification and returns through various means such as asset selection and allocation.

Furthermore, a unique portfolio management company Dubai can add value by using your capital most efficiently. They will also keep you informed through cash flow forecasting and various other performance measurement techniques. In that sense, real estate portfolio managers create and execute property-level strategies for the assets they are managing.

How do portfolio managers build strategies for investment selection

When you hire portfolio management services in Dubai, the company or professional will be responsible for selecting and allocating assets. They do it not just by gaining an understanding of the market dynamics, but by also being experts in property fundamentals. Real estate portfolio managers are trained and educated in the local market as well as in the various commercial land uses such as single and multifamily residential, retail, hotel, industrial, and office.

To produce sufficient risk-adjusted returns, ensure diversification, and beat the market, portfolio managers in the real estate sector need to place their bets on local and regional property markets. When handling multiple-asset portfolios, they also have to focus on building the correct property mix. Because of this, a unique portfolio management company Dubai may concentrate on specific property types of regions. Some portfolio management companies also devise their teams and senior employees by land use or regions. They do that to make sure that market opportunities are identified and translated into the correct asset selection and origination.

How does real estate portfolio management work?

At the core of efficient real estate portfolio management, you will find experts who add value by executing various property-level strategies. Companies that offer portfolio management services in Dubai have in-house teams made up of experts who specialize in regional market fundamentals or certain property types. These experts are also responsible for optimizing and increasing the value of the properties in their custody. Besides facilitating transactions and providing information and suggestions on local prospects, portfolio managers also maintain and monitor proeprty-level performance.

A unique portfolio management company Dubai will approve budgets and manage expenses on your behalf. They will also focus on increasing value by managing the rent or lease on your properties. You might feel that these are simple enough tasks that you can manage on your own. However, in reality, the process is not as black and white as it seems. It involves a complex function that requires your full-time attention and dedication. Failing to do it efficiently might reduce the value of your portfolio significantly.

If you want to make a sustainable income through renting or leasing your properties, you would have to find and execute the best possible opportunities for each of your investment properties. To achieve this, you will have to conduct a thorough search and facilitate a program that fits perfectly with your portfolio management strategy. Of course, you would need to devise a fool-proof portfolio management strategy first. You would also have to make sure that any changes you bring should not disturb your existing tenants or your relationship with them.

Why hire RiseUp for portfolio management needs?

If you want the best portfolio management services in Dubai, RiseUp is the answer! Being one of the leading portfolio management companies in the UAE, RiseUp is best suited to fulfill your needs as a real estate investor. We have a team made up of highly skilled and professionally trained portfolio managers who will manage your real estate portfolio and also optimize the value of each one of your assets.

Renting and leasing properties can involve a lot of negotiations. Handling it poorly may cause your relationship with your tenants to get strained. That is why having RiseUp’s expert portfolio managers can save you a lot of trouble. When you have them by your side, you can rest easy knowing that the job will be handled smoothly without you putting additional efforts.

Managing your portfolio also means that our portfolio manager will be responsible for your investment decisions. Since RiseUp has its own investment advisors, you can get the best guidance when choosing properties. No matter what your goals are, your portfolio manager will work towards achieving them. In the meantime, you can focus on some other aspect of your work or life.

There are countless benefits to hiring portfolio managers from RiseUp. Besides getting the best professionals that the industry has to offer, you also get portfolio management services in Dubai at fairly low prices. To know more, give us a call or drop us an email today!

What Can Your Dubai Property Manager Do For You?

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One of the most significant decisions you will make as a real estate investor is whether or not you should hire a property manager. Managing one or more investment properties is a full-time job. You need to give it your 100% simply because how you manage your investments can very well determine how much you earn from them. Poorly managed real estate can lose its value over time, which means a significant loss for you. If you do not have the time to manage your properties or if you feel that you are not the right person for the task, hiring one of the best property management companies in Dubai will be the right call.

What is a property manager?

Simply put, a property manager can be an individual or company that you hire to oversee the daily operations of one or more real estate units. Real estate investors and property owners typically rely on property managers when they are unable or unwilling to manage their properties. Commercial properties such as business offices, retail malls, and apartment complexes are generally run by property management companies. You will find a list of property management companies in Dubai that specialize in both commercial and residential properties.

Foreign investors, who have properties in Dubai, can benefit greatly from hiring one of the best property management companies in Dubai. Managing investment properties remotely is not only extremely difficult, but it can also prove to be impossible in certain situations. So, if you live far away from your rental properties, hiring a professional property manager may be the ideal solution. On the other hand, if you do not like dealing with the tenants, building maintenance, and so on, you can hire someone to do it for you.

Why hire The Best Property Management Companies in Dubai & What can a property manager do for you?

If you thought that property managers only collect and cash rent checks, you are mistaken. Before you start combing through the list of property management companies in Dubai, you should first get some clarity on what they can do for you. A professional property manager fulfills many responsibilities. Here are some of the most important ones:

1. Promote your property and find tenants

If you rely on rental income, the longer your properties remain empty, the more it costs you. The best property management companies in Dubai eliminate this by proactively trying to renew ongoing leases. They also promote your property on various platforms to attract tenants, and they do it as soon as the current tenant gives notice. That way, your rental property never remains empty.

Professionals hired through a list of property management companies in Dubai also make sure that a property is rent-ready. They take care of necessary repairs and remodeling work, replace damaged or faulty appliances, and rekey the doors. When the property is ready to be shown, the property manager promotes it aggressively with video walkthroughs and photos on his/her website as well as the major listing sites.

2. Screen potential tenants and collect security deposits

Hiring the right tenant is crucial if you want to avoid the risk of financial loss. The best property management companies in Dubai carry out a plethora of background checks including rental history, credit checks, employment history, pet information, and criminal record. They also conduct every step of the process in compliance with the law. Before finalizing the tenant, your property manager will consult you and get your approval. When you recommend a candidate for approval, they will perform all the legal formalities and collect the security deposit.

3. Know all the laws and regulations

When going through a list of property management companies in Dubai, make sure you select one that has a sturdy legal team to assist your property manager. As an investor, you may find it overwhelming to keep yourself up to date on all the current laws and regulations related to leasing or renting commercial or residential properties. A reliable property manager will have expertise on these areas and he/she will know how to address them properly.

4. Take care of maintenance requests

For most landlords, fulfilling maintenance requests is one of the biggest pain points. The idea of earning a passive income may not seem so appealing when you are called with a toilet emergency at the dead of night! No matter how good your tenants are, toilets will break, appliances will malfunction, and the building will get old and worn out. If you do not want to deal with the upkeep of your property, hiring a property manager will be the ideal choice.

5. Allow you to invest without worrying about geographic barriers

When it comes to running operations smoothly, real estate will always require a local presence. That means geographic boundaries can become a significant problem for investors. However, this issue can get resolved when you hire an efficient property manager whose operations are based where your property is situated. This way, you do not need to live in Dubai to own investment property here.

In Conclusion

There are countless benefits of hiring professional property managers to oversee your rental properties. Although you have to spend a certain percentage of your profits to pay your property manager, do not let that cost discourage you. Ultimately, the added expenses will be worth it when you see your property running smoothly without you having to worry about the day to day operations.

If you want a reliable and competent team of experts to manage your property, check out RiseUp, one of the best property management companies in Dubai. Since its inception, RiseUp has been working with both domestic and foreign investors and they specialize in both residential and commercial properties. The company boasts an in-house team that is composed of some of the leading experts from the industry.

RiseUp property managers can make your life much easier by making sure that your investment property stays in the best shape to generate high ROI. To learn more about what they can do for you, get in touch with RiseUp today!

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