Short-term rentals in Dubai are trending – but property owners need to do this checklist

Short-term rentals in Dubai are trending – but property owners need to do this checklist

Diversifying your portfolio with investments like real estate is one of the best decisions you can make. That said, real estate returns vary significantly depending on what you do with the asset. In the buy-to-let segment, short-term rental properties offer the biggest potential for profits, but they come with their own challenges to navigate. Even in a buoyant market, rewards aren’t guaranteed, and there are some important factors to consider. After a steep decline in reservations during 2020 due to lockdowns and travel restrictions, short-term rental demand surged in 2021. The trend is predicted to continue in 2022. According to a survey by Airbnb, more people are embracing long-stay travel and choosing a temporary base for its lifestyle benefits now they have the flexibility to work from anywhere. Various studies show that the UAE is one of the world’s most preferred destinations to live and work, and even permanent residents are turning away from annual rental contracts that come with the hassle of upfront commissions and post-dated cheques. Dubai has over 10,000 active vacation rental listings. Occupancy rates increased 32 per cent from December 2020 to December last, plus ADR increased by 15-28 per cent. The average month-on-month occupancy grew