Whether you prefer having reliable, long-term tenants or benefiting from maximized pricing with a constant tenant turnover, all landlords share the ultimate goal of keeping their property occupied. In the competitive, ever-evolving Dubai real estate market, a long stretch of vacancy can be deadly to your investment. Even when unoccupied, your property will still need maintenance, and service fees must be paid. With no rental income, you risk undermining the financial viability of your property and potentially harming its future value. But all of that can be avoided with the right property management practices. Let’s explore some practical strategies to will help you retain quality tenants and keep them.

Keep Your Property Maintained

While it may sound like a hassle and unnecessary cost, proper and constant property management helps you ensure it maintains its value, and avoid any leaks, cracks, or unpleasant surprises when viewing with a potential tenant. Regardless of whether the property is tenanted at the time or not, stick to a routine check-up of interiors (faults in wall paint, cracks in tiles, etc) as well utilities such as water pipes and electricity. A well-maintained property encourages potential clients to choose it as it looks appealing and gives them confidence that any future maintenance hindrances will be dealt with.

Additionally, if you feel your property is well-maintained, but the tenant search is still wearing your patience thin, it may be time for a revamp. Renovation is useful especially if your property is old or in an old building, as the interiors and design details (doors, bathroom and kitchen details) may be outdated and stopping you from renting for the current market price. Not only will a renovation boost your property’s value, but it will also attract fresh clients as it will stand out from neighboring apartments or villas.

Match the Market

Is your asking price too high? Or perhaps too low? Either case can deter quality tenants. If your asking price is too high, renters will simply move on to your competition. And if it’s too low, you might fill the unit fast, but at the cost of lost income. The key lies in aligning your rent with market trends while ensuring your property stands out. Keep a pulse on comparable listings in your area, factor in amenities, unit condition, and payment options that they offer. If your property has been sitting vacant, a slight adjustment in price can make all the difference. Pricing with fixed numbers is a losing game, you must adopt a dynamic strategy that evolves with the market, ensuring you never miss out on the right tenants.

Flexible Payments

One of the main deterrents for tenants is rigid payment plans. Realistically speaking, the majority of renters are young professionals or couples, often with modest salaries, and while they may not object to the price itself, paying in a single cheque may prove difficult for them. Many tenants will automatically disregard a property listing if it states the payment plan is rigid. Keep the option for multiple cheques or negotiations available, giving yourself access to a wider tenant pool and increasing your chances of finding a quality tenant.

Work with Professionals

Finding a good tenant isn’t always easy. Screening, paperwork, maintenance, they don’t make it any easier. But when you partner with KeyOne Properties, you gain a trusted ally in navigating the complexities of property management. Our team of experts understands the Dubai market inside and out, ensuring that your property gets the attention it deserves. We handle all procedures from marketing to tenant screening and any needed maintenance. With deep-rooted industry knowledge and a passion for the real estate industry, our team will provide a hassle-free property ownership experience for you, ensuring you nothing but peace of mind and maximized returns.

In the competitive Dubai real estate market, a vacant property can quickly become a financial burden. However, by focusing on maintenance, pricing, flexibility, and professional help, you can keep your property occupied and profitable. Let KeyOne Properties be your trusted partner in securing long-term, quality tenants and maximizing your returns with ease. Your solution could be one tap away, contact us to get started!

Written by: Samah ElBashir