Managing properties in Al Ain and its all neighboring cities is the core expertise of Living Standard Real Estate however we take care of Buildings, Complexes and small-medium-sized old houses are the core expertise of Living Standard Real Estate. Here is a brief outline of what we will do for you:
Design and implement a marketing campaign specific to your property.
Maintain And Improve
Managing villas in Al Ain required to perform frequent inspections of the property. recommend any necessary repair and improvement based on initial inspection. Hire qualified and competent contractors to proceed with repairs accurately.
Administration Of The Lease
Prepare a lease with the landlords’ rights in mind and Screen applicants. Enforce all terms of the lease. Administer lease renewals, rent increases notice to vacate, a notice of lease violation, and late notices. Evict delinquent and problem tenants.
Provide monthly financial statements. Maintain tenant and property files. Maintain tenant’s security deposit in the manner required by.
Lease Your Property
Renting to the wrong tenants can be a nightmare. Don’t risk it – let Living Standard lease your property, and leave the trouble to us. Living Standard will find and screen quality tenants quickly and make sure they’re right for you.
Price And Prepare The Property For Rent
- Recommend a competitive rental price based on current market conditions
- Recommend and manage repairs and improvements
- Hire qualified and competent contractors.
Promote your property to the largest possible rental market
- Design and implement a customized marketing campaign
- Prepare a brochure profiling your property
- Show your property on days, evenings, and weekends
Select And Screen Tenants
- Screen every adult applicant
- Require applicants to complete our comprehensive lease application
- Check the applicants’ credit reports
- Require written verification of employment
ASHAREJ, AL AIN
SHAB AL ASHGAR, AL AIN
AL BATEEN, AL AIN
3 Strategies For Managing Rental Property
If a rental property is not managed correctly, it will fall into shambles. Luckily, there are several different ways to manage the property to fit every landlords’ needs. You can be completely hands-on, or you can decide to outsource everything. Here are three management strategies for every potential landlord to consider that will keep your property up, running, and generating revenue.
Before you are able to select the right strategy for you, you need to understand all the different areas of a rental property that need to be managed. A landlord’s management responsibilities can be broken down into three sections:
- Managing Tenants
- Managing Property Maintenance and Inspections
- Managing Finances
This is the part of rental property management that is most immediate and most obvious. However, being a successful landlord involves a lot more than just collecting rent. You have to manage:
- Rent Collection: Setting due dates. Collecting rent each week or month. Establishing late fees and grace periods. Dealing with unpaid rent.
- Lease Agreements: Verifying that lease includes all legal terms required by your state’s landlord-tenant law. Making sure the lease is up to date with the most recent version of the law. Managing lease start and end date of all tenants.
- Tenant Screening: Advertising vacancy. Setting up appointments. Verifying information on applications. You may also determine if certain tenants are a good fit.
- Move-In: Signing lease agreements. Going over rules, requirements, and regulations. Collecting security deposit and first month’s rent. Walking through and noting the current condition of the rental unit.
- Move-Out: Verifying that lease term is actually over. Checking the condition of the rental unit for any damage. Beginning the process to find a new tenant for an apartment.
- Tenant Complaints: Fielding complaints. Setting up a game plan to fix the problem.
- Repair Requests: Responding to requests quickly. Prioritizing the importance of repair. Doing the repair yourself or hiring someone to do it.
- Tenant Evictions: Sending tenant legally required notices before eviction. Filing for eviction with the court. Preparing your evidence that supports the reason for eviction.
The second main part of rental property management is the property itself. The physical structure needs to be maintained for the health and safety of the tenants. Your insurance company may also require certain parts of the structure, such as the roof, to meet certain standards or they will refuse to insure the property.
- Maintenance: Cutting the grass. Picking up leaves. Shoveling snow. Taking out the garbage. Keeping all common areas clean. Making sure tenants have access to running water at all times and heat in the winter. Fixing roof leaks, plumbing leaks, cracked tiles, loose handrails, faulty door or window locks.
- Inspections: You will have to deal with inspections from the town and even from your lender and the insurance company. The town inspections are to make sure your property is following certain health and safety codes. The lender and insurance company inspect the property to make sure the property is worth the amount they are lending or the amount they are insuring it for.
3. Managing Finances
The third part of management that you will have to deal with when owning a rental property involves the finances. You need to understand how much money is coming in each month and how much money is going out.
- Rent Payments: How much you collect in rent each month.
- Mortgage Payment: What you pay each month on your mortgage.
- Insurance: How much you pay to insure your property.
- Taxes: What your yearly property taxes are.
- Utilities: If tenants are not responsible for paying for utilities, how much the water, gas, and electric bills are each month for the property.
- Fees/Fines: Fees you may have to pay for property inspections or court costs. Unexpected fines for maintenance issues at the property.