The Most Common Property Management Issues And How To Avoid Them

Every property comes with its own set of advantages and issues. Some issues may be immediately apparent, whilst others might come to light after months or even years of ownership.

Here we delve into three of the most common property management issues, some of which are unique to the UAE, and how best to deal with them.

Maintenance

Maintenance-related matters are a problem common to property owners around the world, and likely the property management issue that is experienced most frequently. All structures require ongoing maintenance to ensure they are safe and usable.  Attention must be paid to structural aspects as well as plumbing, electrical systems and others.

The topography and extreme climate of the UAE certainly contribute to some of the problems that arise in residential, commercial and industrial real estate across the Emirates. Residents and businesses may face faulty air conditioning and issues pertaining to sewage. These are attributed to the soaring summer temperatures and mounting pressure on the nation’s infrastructure as it strives to keep up with rapid population growth.

A programme focused on preventative and proactive management of maintenance issues complete with routine checks is the solution. This should be supported by a trusted and professional team trained for dealing with the most common and urgent repairs.

Financials

By securing the best rates and on-time payment, your property investments can eventually pay for themselves. Cheques are still considered a common and accepted method of payment in the UAE. However, these can present complications if signatures do not match or funds are not present in the linked account.

Financial planning for your investment should also include evaluation and negotiations, preparation of leases, renewals, exits and other processes and procedures, tenant retention and attraction strategies. Landlords who reside overseas but own properties locally would benefit from buy-to-let management services.

Outsourcing these responsibilities to a locally-based property management firm allows landlords to tap into a pool of suitable tenants, reduce turnover and ensure the property is running efficiently.

Tenant complaints

Depending on the size of the property portfolio, tenant complaints can be raised and may pile up if unattended. Ranging from small issues that may relate to disagreements with another tenant to major complaints regarding the property itself, each issue must be acknowledged and addressed. A solution must be actioned in a timely manner to maintain high service standards.

As every tenant communication must be considered, having a property manager on call will help to address and resolve issues as quickly as possible.

Why you should engage a property management firm

Property management goes beyond the basics such as ensuring the lights are working or reporting that a property needs a fresh coat of paint. It involves the daily oversight of residential, commercial or industrial real estate by a third-party professional.

Select a firm that offers expertise across all areas of real estate and at every stage of the development life cycle. Involve someone who can add value to your assets with real insight and forward-thinking advice, once the basics have been covered.

Experience in the region is key, as the property market in the UAE has nuances best understood and managed by professionals with a local base, who also have the flexibility and know-how to deal with each unique situation.

Why use technology

Technology makes our lives easier in almost every aspect, including property management. Apps are available to enable efficient communication between tenants and property managers with an electronic paper trail that both parties can follow. Additionally, some apps have been specifically designed to give landlords up-to-date information on the performance of a property portfolio, and electronic lease signatures and online payments are becoming more commonplace, making rental contracts more streamlined.