Better Homes, the leading property company in the Middle East, has seen its short term rental service grow by 400 per cent to accommodate the exponential growth in this sector. The company has recorded a ten-fold surge in demand in just eight months since the launch of this new business division. The innovative concept was pioneered by Better Homes in September last year whereby property owners can lease their apartments and villas for a short duration based on clients’ specific requirements.
Amina Harris, Short Term Rentals Manager at Better Homes explained, “With the constant over demand for hotel accommodation coupled with soaring room rates, short term rentals offer the perfect alternative. Under this scheme, we provide ready-to-live-in properties in key locations at reasonable prices. We are currently running at 82 per cent occupancy.”
“This summer, we anticipate a high demand from various market segments. 60 per cent of our clients are corporate executives, consultants, company visitors, while the remaining comprises holiday visitors and families relocating.”
Harris pointed out that the hotspot locations for short term rentals at this time were those that provided easy access to Sheikh Zayed Road such as the Greens, Dubai Marina and Emirates Hills. “We also foresee a demand in the new areas once these are partially complete such as Burj Dubai area, the Palm Jumeirah and Dubailand. Visitors pouring into Dubai throughout the year are constantly looking for a picturesque property close to the heart of Dubai. Short term rentals offer them a mix of business convenience and a flavour of Middle Eastern hospitality.”
Harris added: “Under the short-term rental scheme, we extended an attractive proposition to landlords to include maintenance, advertising, promotion, reports and even guest’s transportation are arranged by Better Homes. In addition, we also provide consultancy in several areas including furnishing, decorating and even insurance.”
“Successfully developing a hospitality segment within our key services means we have utilize our core competencies in the market; the key lies in providing quality property services coupled with cost effective prices,” said Harris. “The objective is to maintain the high level of service that Better Homes is renowned for.”
Harris is upbeat about the sustained growth of Short-term Rentals in the region and Better Homes is poised to take on the challenges of this sector by investing in staff and technology.
“Dubai is not what it used to be at one time when during summers one expected an exodus. Spurred by the massive developments in real estate, Dubai’s growing economy has created thriving activity across all sectors. Our division has been busy ever since it started eight months ago and we are gearing up to meet the increase in demand during the summer holidays and beyond. When people travel they want everything taken care of; our Short-term Rentals service does this but offers the guest an independence that they can’t get in hotels and at a far more attractive price.”
Better Homes is one of the UAE’s foremost real estate companies with a reputation for professional services and consultancy established over 20 years.
