Property Setup as a Holiday Home and DTCM registration
What are the requirements to setup a property as a Holiday Home property in Dubai?
- Apartment/Villa Title Deed
- Owner's Passport Copy
- DEWA Bill in the name of the Owner
- Authorization letter to an operator (Yanjoon Holiday Homes) to register the property
- Furnishing as per the DTCM standards including safety devices and signage
Can any property in any Dubai location be turned into a Holiday Home?
Until this time, there are not restrictions on where the property is located for the purpose of registering it as an approved holiday home.
How long after registration will my property be made available to future tenants
It takes up to two weeks to finalize the setup, registration, inspection, professional photo shoot, advertising setup.
My property is already furnished, what will it take to get it up and running as a Holiday Home
It could take up to two weeks depending on the type of furniture, the other requirements such as fire alarms, patio furniture..etc along with the time it will take to register it with the authorities as an approved holiday home.
My property is unfurnished, how long will it take to furnish and setup my property.
For unfurnished properties, the setup is expected to take an additional week if the furniture is provided by Yanjoon Holiday Homes.
Why should I register my property with an approved DTCM provider and not run it myself?
It is illegal by the new regulations that came into effect to rent your furnished property directly on a short term basis. Failure to register through an approved operator could lead to heavy fines by the DTCM.
Can you register my property with the DTCM and have me self-manage it?
No, the DTCM has set specific rules about how properties will be managed after registration. Only one operator at a time can be registered to run the property. However, if you want to be involved in the selection of guests, places to advertise, block dates for yourself and family and friends or any other such requests, this can be done directly through our management portal.
- Do you have a guaranteed return for each property during the assigned contract period?
Some properties will be offered a minimum guaranteed return on investment after all service fees. These guarantees are not reflective of the true expected return and are a reflection of the average unfurnished rental price for the property on a yearly basis.
- How much do you charge for your services? Is it competitive?
We pride ourselves in knowing how to charge you, the owner, the lowest service charges in the market while maintaining the highest occupancy rate. Our model allows us to maximize occupancy which in turn allows us to reduce our fees. Contact us to find out more.
- Do you offer discounted service fees for registering multiple properties?
Yes, registering more than 4 properties with Yanjoon.com will grant the owner a discount on the service fees. The discount is incremental with the number of properties added by one owner.
- Why should I register with Yanjoon Holidays and not the other competitors?
We offer a first class service, our contracts are straight forward, we know how to maximize your occupancy and how to keep your service fees. Compare our offering to others in the market and you will know the difference.
- Will you be able to advertise your property and sell if required?
Absolutely, we do not block your property as long as it is managed by us. We have a sister real estate company that can handle the property viewings on your behalf and the property will be available to any and all agents or direct investors.
- Do you have cooperate clients?
Yes, we do. We rely heavily on cooperate clients and we focus our local and regional sales staff on targeting cooperate clients (longer term commitments and rentals)
- How do you maximize my ROI?
Higher occupancy at lower service fees without compromising quality.
- When will Yanjoon.com be available to holiday and business customers?
June 1st, 2015.
Occupancy and Guaranteed Return on Investment:
- What are the expected occupancy rates?
Occupancy rates vary by the area. Some areas in Dubai see higher than 90% occupancy year round.
- I need a minimum guaranteed return for my property, do you offer a guaranteed return for my property?
For some properties, we do offer a minimum guaranteed return based on the average market price for rent in the area of the property. The minimum guaranteed contracts are for properties that are offered are not the actual return expected from the property. We offer this minimum to give our owners the guarantee that their property will generate income that is at least aligned with the market price.
- Will I be guaranteed income during the wait period (now until the launch date?)
The wait period (pre-launch) is used to complete registration of properties with DTCM, preparation of the properties, adding the properties in every portal for maximizing advertising and to guarantee that the property meets the standards set by the DTCM and Yanjoon Holiday Homes. Post June 1, the properties will be made available to the guests both through the website directly and through the other portals utilizing the same reservation system.
- Is the return from Short Term Rentals higher than long term unfurnished rent?
In many areas in Dubai, return from short term rentals can be as high as 50% above the average unfurnished long term lease contract. This depends on the property and the area.
- What are the areas with the highest return in Dubai
Dubai Marina, Palm Jumeirah, Dubai Downtown, Business Bay, DIFC, Downtown are amongst the best areas for short term rentals for both business and holiday travelers.
- Where do you advertise my property? Do you only accept guest through your own site?
We market the properties through all the international portals including booking.com, Expedia Vacation Homes and others. In addition, we feature every property we have in our portfolio in the local portals such as just rentals.com and dubizzle.com. Exposure for the property from multiple sources allows us to give you the maximum possible occupancy rate.
- Can bring in my own additional clients to my property? If so, do you offer a discount on your service?
Absolutely. We will cover all possible sources for getting your property occupied, however, if you are to get additional clients directly yourself, a discount for the service fee will be offered that is aligned with the commissions paid for the advertising portals and travel agents for a similar booking.
- Do you handle registration of my property with the DTCM?
Yes we do, as an approved Holiday Homes Operator, we handle the registration directly with the DTCM
- Do you provide the required insurance set by DTCM?
Yes, as an approved operator, we are required to do so.
- Who handles the payments, security deposits, tax payments, tourism fees?
Yanjoon Holiday Homes will do so. Only operators are allowed to manage this. Owners are not allowed to do so directly.
- How often do you offer housekeeping?
Depends on the length of stay. Weekly stays are offered housekeeping before check in and once during the stay and at the end of the stay. Monthly and longer stays are treated differently and are based on the agreement with the guest.
- Is there a 24hours service desk?
Yes, guests will be connected directly to our 24 hour concierge service directly from each property.
- Do you offer pickup and drop off service from the airport?
Yes, we have contracted a leading chauffeur service company for this service. This service will be offered as an add on to the reservations.
- Do you offer cooperate rates for companies in Dubai?
Yes we do, this is how we attract our cooperate clients.
- What is the minimum contact period
- 3 months for units furnished by the landlord
- 6 months for units furnished by Yanjoon Holiday Homes
- 12 months for units furnished by the landlord or YHH with guaranteed minimum payment
- Will the property be available for viewings by potential buyers during the contract period
Yes, this will always be managed within a reasonable notice period typically within 24 hours.
- Can I use my property for personal or family use (uncharged) during the contract period
Absolutely, you will be entitled to block dates for personal use and these dates will be logged off in the DTCM system as family/personal use.