How to Sell your Property in Dubai?
There are three options to consider if you are selling your property in Dubai:
Option 1: Exclusive Sale
Take a look online to see which agency is prominent in the area or building you are in, and ask them for a property valuation. There may be no success with selling due to the price or how the property is being marketed.
You could also take it further and provide the agency Power of Attorney. This means they can handle the entire sales process even once you are in the UK. Allowing you to sell and transfer the property without having to come back to the UAE.
Option 2: Short-term letting
The short-term letting market has grown significantly in Dubai. Owners moving in this direction have seen significantly higher yields when compared to a 12-month rental contract.
Multiple agencies in the market can handle the entire process, which means you can have the property on short-term rental while in the UK. STR also comes with great flexibility, allowing you to block the unit for yourself, friends or family travelling to Dubai.
You could make the STR and property sale in conjunction, permitting you to earn rental income while trying to sell it and still market the property as vacant on transfer.
Vacant on transfer is a term used in the market, which is more attractive to end users, as they can move in instantly.
Option 3: Property management (PMGT)
In the event you are unable to sell and don’t want to leave the unit sitting vacant, you can also move forward with a yearly rental and get a property management company involved.
The benefits include: Handling the entire process from marketing, qualifying leads, contracts, handover, inventory reports, check out, etc.
Role of PMGT
The PMGT company will also be able to bank the rental cheques, send the money directly to your overseas account, and handle all maintenance issues quickly and efficiently.
The biggest benefit is that once the tenant vacates, the PMGT company will ensure the handover is completed professionally and that any issues with the property will be noted and deducted from the security deposit accordingly.
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