"My family owns a real estate portfolio in Dubai - we operate more than 20 properties.
Declining rents have really hurt our business in recent years, so three years ago we became increasingly curious about short-term rental as an alternative."
"Our primary concern is return on investment. We manage many properties, so professionalism and efficiency is important to us.
We have properties all over Dubai. Shosty were very helpful in guiding us on which properties are well suited for short-term rental, and which properties aren't.
It's a partnership! That was clear from the beginning."
Q&A with Fahim
How many properties does Shosty manage for you?
"We currently have 3 properties with Shosty, but we anticipate adding 4 additional properties in the next 6 months. In the right neighborhoods, there's a clear earnings advantage over long-term rental contracts."
Do you use the Dashboard? Is it helpful?
The Dashboard was critical for us, as we need to tie each property's financials to our wider business. Shosty even created a bespoke data stream for us, which provides reporting at a property and portfolio level.
How did Covid-19 affect your portfolio?
The first month after lock-down was quite scary, as prices really took a hit. With all the negative press about tourism, it really felt like the end of short-term.
However, after a month or so, reservations came back. Our Q2 2020 occupancy rate across our three properties was 92% and we met our pre-Covid revenue target. I've never felt more confident in the resilience of the short-term rental model.