Property Leasing Process
Step 1 - Property Valuation
Let expert agents take a look at your property and determine the highest achievable rent in line with market rents. Our experience will guarantee that your property won't stand empty for long.
This is why we consistently achieve the asking price across all our client's properties.
Step 2 - Choose an agent
Upon choosing Lannhill you can count on a professional team, which will work hard for you seven days a week to market your property via our web-site, all major property portals, as well as our extensive client network.
Step 3 - Clean & prepare
The more presentable a property the more rent it will fetch. As Dubai's market is maturing, tenants have become more discerned. Therefore make sure you have your property professionally cleaned inside out, after checking for any required maintenance (including plumbing and A/C) and repair work have it painted - properly.
Even in an area of high demand a property, which looks like it hasn't been looked after, will take more time to rent out and/or you will be forced to reduce the rent. If you have a garden, call a gardener if needed, make sure the greenery is green – not burnt. This means during the summer months investing in someone watering your garden regularly whilst the property stands empty. Should you choose to lease your property with furniture, try to go for an as neutral design as possible to suit all tastes. Make an inventory list of everything provided and the state it is in.
Step 4 - Market the property
Too often you find properties advertised where image and the individual property don't match. We will put together an honest description of your property highlighting its selling points and include photos showing it in its best light.
Of course you can market your own property on places like Dubizzle, but we can do the job for you, offering a more integrated marketing package, including Dubizzle, Propertyfinder and the likes.
Step 5 - Viewings
Our RERA licensed agents will take potential tenants around your property at a time it suits them. Meaning we're available during evenings and weekends as well, when most have time. We don't just send anyone but an agent with in-depth knowledge on your property, prospective tenants are less likely to lease a property via an agency which looks like they have no idea what they are talking about.
Step 6 - Negotiate an offer
Keeping your minimum requirements in mind we will try and get you the best offer. However, if we feel that the property will move slowly i.e. in an area of low demand/oversupply we may suggest you to be flexible with the numbers of cheques for example, reducing rent can also be an option if there is a risk of the property standing empty for too many months.
Step 7 - Agreeing to let
Once you agree to the offer, we will collect a security deposit from the prospective tenant.
Step 8 - Tenant screening
We will then vet the interested party; ask for passport with residency visa and the case of a company, their company license and passport and residence visa of the head of the company. Of course our agent dealing with the tenant will also be able to give you his personal feedback on how they came across i.e. likely to look after your property.
Step 9 - Signing tenancy agreement
We will provide you and the tenant with a draft contract and should there be any additional conditions to be added by either party will do so accordingly. The contract will also feature who is going to look after the maintenance of the property and the number of rent payments to be made. We will collect either the full amount or the rent cheques and pass them on to you and hand over the keys to the tenant. Either he/she or us will connect DEWA and district cooling where applicable.
Step 10 - Your return on investment
To achieve the highest return on investment, or the one you desire keep in mind to set your rent at a level, which takes into account your annual service fees and any other major repair expenses. We can also advise you on re-investing the money you make on rent.