Difference Between Real Estate Asset Management and Property Management

Real Estate Asset Management

Housing, aside from food and water, is the most basic human necessity, yet it has found its way into the global real estate market, and you are being haunted by a who really is which of the tabloids! The relationship between real estate agents and Dubai property management is one of the most typical identity crises in the residential or commercial real estate market. Despite the fact that the two names are frequently used interchangeably, they usually refer to completely different roles:

Property Management in Dubai

If you own many rental properties or don’t live near your rental property, you may want to employ a property manager to oversee your investments. Property managers aren’t cheap, usually charging between 5% and 10% of rental income. A property manager, on the other hand, can be a lifeline when distance, weather, and other issues make it difficult to effectively manage your rentals. This is especially true if your house is part of a government-sponsored affordable housing Program with rigorous guidelines. A specialist in affordable housing real estate management will guide you through the maze of rules to ensure you are in compliance.

Property management responsibilities include:

  • Potential tenants are being interviewed
  • Leases are created
  • Ensure that the rent is paid
  • Recruit installers and make real estate repairs a priority
  • Resolve any difficulties that arise with the tenants

Real Estate Dubai

You’ve probably used the services of a real estate agent if you’ve ever bought or sold a property. Yes, the job of a real estate agent includes selling homes, but that is only part of the profession. The real estate agent knows the local real estate market, as well as the approximate costs and availability of the type of house that their client is looking for. If you need help from specialists in the home buying process, such as appraisers, bankers, or developers, the real estate agent should be able to help. If you are selling your home, your real estate agent will not only take care of the marketing but also the professional photography and videography, as well as the staging. Buying or selling a home requires a significant amount of paperwork and your agent reserves the right to reserve as much time as necessary, as well as any additional time.

A real estate agent’s tasks include:

  • Creating ads
  • Promotional materials are being distributed
  • Meeting with potential clients
  • Explaining a property’s essential qualities and values
  • Bringing a sale to a close

Is Real Estate Asset Management or Property Management Required?

Dubai property management services and property management companies in Dubai have some overlap. You can perform either marketing or budgeting, but the analogy ends there. The goal of real estate asset managers is to look at the larger picture. You are like generals in a war room crafting a complete strategy to help a real estate investor achieve his or her objectives.

Property managers are the ones who are on the ground. They’re on the job, accepting orders and taking care of everything that needs to be taken care of. A real estate investment manager is not required for everyone participating in real estate investing. Anyone with more than a few properties, however, should think about hiring a property manager. Binayah Property Management in Dubai has extensive experience in assisting landlords in reducing their property management to-do lists.

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