Hello, potential host! Are you ready to transform your Dubai apartment or house into a gold mine of short-term rentals? With millions of tourists visiting the city annually, the demand for various alternative accommodations is off the charts. But before letting those guests inside the door, there are just a few really important things that you should tick mark on your checklist.
Step 1: Get Licensed and Registered
Get yourself licensed and registered by DTCM of Dubai Tourism Commerce and Marketing. Earn that badge of honor for your property. Requirements are these:
- Ownership/rental agreement
- Copy of passport
- Copy of Emirates ID
- Utility bills
And there you have it! You get an exclusive number, which will appear on your listing in Airbnb.
Step 2: Safety First!
Guests will be safe when they are your guests. Make sure your place is compliant with Airbnb’s standards for safety and health:
- Fire Safety: A smoke detector and fire extinguisher on the property
- First Aid Kit: An elementary kit of medical supplies
- Emergency Contacts: Visible posting of the local police station and hospital
- Cleanliness and Hygiene: The place must be clean, like a home.
Step 3: Tax Time!
Know your taxes
- Register VAT if your annual turnover exceeds AED 375,000
- Receive a VAT invoice from Airbnb for services rendered
Step 4: Protect Yourself and Your Property
You may also get more insurance coverage over your property and finances. And then there’s the Host Guarantee program of Airbnb.
Step 5: Deliver an Unforgettable Guest Experience!
Be great at making sure that your guests have an amazing stay:
- Have clear house rules and guest policies
- Be accurate in your information about the amenities and services
- Set cancellation policy clearly defined
- Respond quickly to guest inquires
All of these will put you well on your road to running a successful short-term rental business in Dubai.
Helpful Tips for Success
Even more helpful tips that will aid you in achieving success in the short-term rental market include the following:
- Superb photos: Display your home at its very best
- Price competitively: Conduct some market research on the competition and set a competitive price
- Good communication: Re-spond to questions and messages by guests instantly
- Guest reviews: Request your guests to review your property and be quick to respond to any comment they might have with regards to your service
Common Mistakes to Avoid
Here are some of the common mistakes you should steer clear of when you embark on your short-term rental business:
- Inadequate cover by insurance: You should ensure you cover you and your property by enough insurance cover.
- Lack of communication. Always answer the questions and messages from your guests to avoid misunderstandings
- Incorrect information concerning listings. Ensure your listing information is up to date to avoid disputes with guests
Conclusion
Short term rental business can indeed be highly rewarding and profitable, especially if you do one in Dubai. Given the steps outlined below in the guideline, you are most likely to come up with a profit-making venture. Stay updated on regulations and requirements. Don’t be afraid to seek professional advice if you’re not sure about any particular aspect.
Getting Started with Your Short-Term Rental Business
Now that you know the basics, it’s time to get started! Here are some final tips to keep in mind:
