The trend of renting through Airbnb has been gaining speed in Dubai. This rise in popularity of the alternative accommodation site has taken off since the Department of Tourism and Commerce Marketing (DTCM) allowed homeowners to use their properties as short-term rentals or holiday homes. If you own a home in Dubai, you can rent through Airbnb to tourists and city-visitors on a day-to-day basis.
While the idea of renting through Airbnb looks attractive, it is not easy to manage a short-term rental. Maintaining a holiday home is much more challenging. It’s imperative that you are aware of these challenges and prepared to take them on before listing your Dubai home on Airbnb or any other short-term rental websites.
Here is a detailed guide to renting your home through Airbnb in Dubai:
The first step is to obtain permission from DTCM. It is mandatory for homeowners to register their properties with DTCM before renting them on a short-term basis. Fortunately, you can register online.
Make sure that you follow all legal obligations before listing your Dubai home on Airbnb. The authorities have put stringent laws in place for renting out holiday homes. You will have to pay hefty penalties if you are caught violating these regulations.
Before listing your home on Airbnb, it is important to decide how much rent to charge per day. Perform comparative market analysis to come up with the best possible price. Research properties of similar sizes value and location already listed on Airbnb. Then you can find out how much rent other hosts are charging and how to assign a competitive price to your own. Once you build your profile on Airbnb and get positive feedback from guests, you may be able to charge a premium for your positive reputation and hospitality.
It’s a simple and straightforward process to list your home on Airbnb. However, you need to make sure that your listing stands out.
Ensure that you can personally manage the property when using it as a short-term rental. You need to determine if you have enough time and resources to look after the property’s upkeep on a day-to-day basis as well as greeting guests around the clock.
You can hire a property management agency in Dubai. They will take care of all your obligations. Including the marketing and managing of your holiday home. They will determine the rent price, update your listing, collect necessary documents from tenants, verify their background, and take care of cleaning when a tenant moves out. You will only need to pay a percentage of the rent as a commission to your manager.
Lastly, an alternative to renting your home on Airbnb would be to rent it directly to Blueground. Blueground is a licensed company that rents apartments in some of the most premium locations around the world. Currently, we operate in Dubai, Athens, and six American cities spanning from New York to San Francisco. Our business model offers a wide array of benefits to property owners. For example, a fixed and steady income, property maintenance, and a flexible contract. Best yet, when you rent out your apartment with us, the minimum stay is one month or longer. We put an emphasis on long term occupancy and therefore Dubai's low season will not have any effect on your rental income.