Real Estate is an incredible investment—especially in Dubai—with its dazzling views, the ever-growing tourist industry, and the opportunity for business and investment. Dubai is a global hotspot, a cultural melting pot and has something for everyone—making property here a coveted asset.

But there is little to gain if you don’t know how to position, market and best use your real estate. Managing a property to earn a passive income takes time and effort, Propr has some suggestions on what you can do with your property to transform it into a money-making space:

1. Allow a property management company to take over: This is an excellent way to maximize returns from your space with minimal participation and hassle. If you want to earn a sustainable passive income, you will get an estimate of yearly returns after the first property visit. Propr has an advanced algorithm which helps determine the right price for the space based on location and past bookings. You also do not have to worry about the cost of cleaning, maintenance, marketing or guest screening as you outsource all of that to us. We have managed 500 properties, over 50,000 bookings, and over 150,000 guests so once you partner with us, you unwind and focus on other pursuits—Propr takes over the everyday working and management!
   
2. Rent out your property on a short-term basis: We believe that short-term rentals have a lot of potential in Dubai. Many people visit the city on a short or medium-term basis for festivals, concerts, cultural events, movie premiers or business trips. We help you capture this market through short-term rentals. Short-term rentals can also be relatively easier to maintain—especially when you have Propr take over. We understand the maintenance and cleanliness concerns of the post-covid world. This is why we employ professional cleaning services which exhaustively disinfect and preen each property between every stay. Another thing is the flexibility factor: you can charge more during the festival and tourist seasons and boost your income with short-term rentals.
3. Long-term rentals: You might be tempted to turn to long-term rentals or lease agreements once you own and develop your real estate. However, long-term rentals have a fixed rental, which means you cannot seek more rent during peak tourist months or events. Also, the smooth operation of a long-term rental really depends on finding a good tenant who pays on time and keeps the property well. Even with a good tenant and good rent, the long term option lacks flexibility because you cannot use or even visit your property.
4. Invest in your space: Your space may be in the most exclusive location in Dubai, but it is nothing without thoughtful planning. Once you engage Propr, we advise you on what you need to do to make your space guest-ready. This may require modernizing certain amenities or sprucing up the place. If you are thinking about short-term rentals, you should focus on design features such as creating a space with stellar views of the ocean or skyline, a large room for a soiree—and essentially anything that gives your client a taste of Dubai.
5. Rent for an event: If you can’t rent your home because you live in it, why not rent it for an event? Networking brings exposure to your property and helps it become an even more coveted and niche place for an event or gathering. A theme party, a poetry reading, or even a football match-viewing fete are easy to host but you do have to set up, clean up and risk that the noise might annoy the neighbors. It’s also advisable to check if you are allowed to rent the house for a party, there could be a fine if there are complaints so be careful.
6. Learn how to market your property: We now live in a world fueled by social media, influencers with massive followings and virtual access to everything. Your space should be talked about in the right circles by the right people on platforms such as Instagram and hosting websites. At Propr, we market your property on over 200 booking platforms. We also hire professional photographers and content writers who make sure your place gets noticed by guests while booking and leaves an impression.

There could be many other ways to make a quick buck but it is vital to find a smart way to maximize your property’s value and Dubai homeowners can earn passive income simply by using your home well. It may seem like a daunting task, to start but we are here to help you every step of the way, let’s get you an estimate on what your home can earn for you?