Fahim, Dubai

"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."

It's  a

Partnership

"Our primary concern is return on investment.  We manage many properties, so professionalism and efficiency is important to us.  

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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.

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It's a partnership!  That was  clear from the beginning."

Q&A with Fahim

How many properties does Shosty manage for you?

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"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."

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Do you use the Dashboard? Is it helpful?

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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.

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How did Covid-19 affect your portfolio?

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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.

"My son convinced me hosting would offset costs and earn us some rental income - hosting strangers was definitely not my idea.

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Ironically, our apartment has never been so well looked after."