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Alex & Christina

An in-depth case study of one of our favorite landlords.

Alex & Christina have been planning to expand their business in Qatar for quite some time now. So they needed to travel and leave their property for a long 12 month duration until their business stands on its feet and its possible to come back home.

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They wanted to ensure they had their mortgage covered, whilst having some flexibility to return to their property if they needed to. Their main concern was how to choose the right holiday home management company.

Property Info

  • Location: Dubai Marina, Dubai

  • Surface: 122 sqm (1322 sq ft)

  • Start of management: March 2018

  • Type: 2-bedroom apartment

Long-term rental yields too low

After doing a bit of research, they found that a traditional rental would not be enough to cover their mortgage. 

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As the apartment is their main residence, they were seeking a guaranteed stream of income and to eliminate the risk of tenancy rental cheque defaults and other inconvenient tenancy disputes.

Airbnb Management from afar

Alex & Christina also wanted to ensure their apartment was being looked after whilst they were away. For instance, they wanted someone to take care of maintenance, paying service charges and looking after tenants on their behalf.

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In addition to generate enough income to support their life abroad and cover bills and the mortgage payments.

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They both contacted us in February 2018 to see if there was a way they could increase their rental income, but also have their risks managed by a professional management company.

Outcome

After a couple of days of onboarding the property and preparing it to welcome potential guests and publishing their property, we received their first booking on Airbnb. Following that, the property was quickly booked through various other portals like booking.com, Property Finder & Bayut as summer approaches.

Aiming for a steady flowing income and focusing on business people who are interested to lease the property for a monthly duration, the property generated an average monthly income between AED 15,000 on low seasons and AED 18,000 on high seasons, their rental income was over 3 times higher than traditional long term lease income.

Now, The property is managed by Icon Casa Living all-year-round and the couple found themselves a stunning 3 bedroom villa in Arabian Ranches.

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