How We Increased
Anthony's Annual
Rental Revenue By 15%
By Kyle Johnson, Co-Founder at Homevy.
"It was like being handcuffed to my own property," Anthony told us over coffee.
Meet Anthony,
A property owner in Dubai trying to make the most of his investment. For years, he'd been stuck in the long-term rental game, and let me tell you, he was fed up.
Anthony's Struggles
Anthony was initially managing his property as a long term rental. Here's what he was dealing with:
Capped Income
" I couldn't raise the rent even when the market was booming. That's the standard law in Dubai. You can't increase the rental amount unless the property unit is confirmed less than 10% of the average rent of similar units within the same area. It was so frustrating watching other properties' values go up while I was stuck with the same income. "Tenant Troubles
" Once, I had a tenant who stopped paying rent. Do you know how long it took to get them out? Months! And I was losing money the whole time. "Zero Flexibility
" If I wanted to use my own apartment for a week, I couldn't. It felt like I didn't even own the place anymore. "Expensive Renovation
" Long-term tenants... they don't always treat the place like you would. By the time they left, I was looking at a big renovation bill. "Anthony was at his wit's end."I felt trapped," he admitted. "I knew there had to be a better way, but I didn't know where to start."
Anthony's Journey Into Short Term Rentals
It was during a trip to London that Anthony had his eureka moment. He'd booked an Airbnb for his stay and was chatting with the owner.
"This guy was telling me how he uses the apartment himself for a few weeks each year, rents it out the rest of the time, and makes more than he would with a long-term tenant. I couldn't believe it."Anthony came back to Dubai with a mission: to transform his property into a short-term rental. But as he quickly found out, it wasn't as simple as Salt Bae sprinkling salt.
"I thought, how hard could it be? Turns out, pretty hard."Anthony faced these challenges while trying to manage his short term rental;
- 1. Booking Inconsistency: Some weeks were fully booked, others completely empty. "It was a rollercoaster."
- 2. Constant Work: "I was always on call. Guests messaging at 2 AM about the Wi-Fi or something trivial, rushing to get cleaners between bookings... it was exhausting to say the least."
- 3. Pricing Difficulty: "I had no idea how to price the place. Too high, no bookings. Too low, fully booked but no significant profit."
- 4. Ineffective Marketing: "My listing was lost in a sea of other apartments. I didn't know how to make mine stand out."
The results were far from ideal. "I was working harder than ever, but seeing less return," he sighed.
Anthony Signs Up With A Rental Management Company
Frustrated but not ready to give up, Anthony decided to try a popular short-term rental management company in Dubai. "I thought they'd have it all figured out," he explained. "Boy, was I wrong."
While the company took some work off Anthony's plate, new issues cropped up:
Cookie-Cutter Approach: "They treated my place just like every other apartment. There was no personalization, nothing to make it special. It was just business as usual."
Lack of Transparency: "I had no idea what was going on most of the time. Getting updates on bookings or financials was like a tug of war, like I was literally begging," he recalled, shaking his head.
Impersonal Guest Experience: "I started getting reviews mentioning how 'corporate' everything felt. That's not what people want on a vacation," Anthony explained.
Inflexibility: "When I wanted to use the apartment for a weekend, it was annoying. They acted like I was inconveniencing them by wanting to use my own property. My own property," he repeated, still sounding annoyed.
Unexpected Fees: "There were always extra charges popping up. Always. I lost track at some point. Cleaning fees, maintenance fees, marketing fees... my profits were disappearing," Anthony sighed.
After six long months, Anthony was ready to throw in the towel."It felt like I'd tried everything, and nothing was working…I was this close to going back to long-term rentals," he admitted."At least then I could predict my income."
That's when a friend mentioned Homevy. "I was super skeptical," Anthony laughed. "I mean, how different could they really be? But I figured I'd give it one last shot."
Little did Anthony know, this decision would completely transform his short-term rental experience...
Anthony Meets Homevy
When Anthony first reached out to us at Homevy, we could hear the frustration in his voice.
Here was a property owner who had tried everything - long-term rentals, DIY short-term rentals, even another management company. Nothing had worked out the way he'd hoped. We knew we had to do things differently.
"From the very first call, we could tell Anthony needed more than just a business solution," recalls Tee, our client success manager. "He needed a partner who would truly understand his unique situation."
Our first step was to listen. Really listen.
We didn't just want to know about Anthony's property; we wanted to understand his goals, his concerns, and his vision for his investment.
"Anthony told us about his sister's visits, his desire for flexibility, and his frustration with the 'corporate' feel of his last management company," Tee explains. "It was clear that a one-size-fits-all approach wouldn't cut it here."
Since he was in Dubai at the time, we invited Anthony to our office for a face-to-face meeting. Over a cup of Arabic coffee, we dug deeper into his experiences and expectations. Anthony was surprised by our interest in the details.
"I remember thinking,'Why do they care so much about my sister's visits or my favorite features of the apartment?'Anthony laughed later."But it all made sense in the end."
Here's how we turned things around for Anthony:
Armed with the information we needed, our team got to work. We considered Anthony's personal use patterns, his property's unique features, and even his past guest reviews.
With a deep understanding of Anthony's needs and frustrations, we rolled out our Homevy Rental System. This isn't just some cookie-cutter approach – it's a finely tuned system that we adapted specifically for Anthony's situation, and this was divided into three main stages;
- 1. Foundation Stage
- 2. Marketing Stage
- 3. Optimization Stage
We didn't just want to fill his calendar; we wanted to optimize it in a way that aligned with his goals.
Let me walk you through each of the stages.
STAGE 1
Laying the Foundation
We started with Anthony's apartment itself.
Our foundation stage for Anthony was super intentional. This step set the stage for everything else, and we did 4 major things here.
Property
Inspection
Ideation
Furnishing /
Re-furnishing
Quality
Inspection
STAGE 2
Marketing
With Anthony's apartment transformed, it was time to unveil it to guests. But in a city as competitive as Dubai, we knew we needed more than just a listing - we needed good marketing. We did 5 key things here in the marketing stage.
Property Photoshoot
Rental
Listings
Offer
Creation
Search
Marketing
Social Media
Marketing
STAGE 3
Optimization
You might think that after transforming Anthony's apartment and launching a killer marketing campaign, we'd call it a day. But at Homevy, we know that with short-term rentals, especially in Dubai — standing still is the same as moving backward.
We dove back into every single stage of our process, armed with real data and guest feedback. Here's how we kept pushing Anthony's success to new heights:
Fine-Tuning
the Foundation
Perfecting
Our Pricing
Positioning for
Better Reviews
Results: Flexibility Meets Profitability
After six months with Homevy, Anthony's perspective had completely changed. Here's what he told us:
"I've got the best of both worlds now. I can use the apartment when I want, and it makes money when I don't. Last month, I made 20% more than I did with my long-term tenant, and I didn't have to lift a finger."But it's not just about the money for Anthony.
"The flexibility is what I love most," he said. "I'm not tied down anymore. If I want to renovate, I can just block off a month. If my family visits, I have a place for them to stay. It's like I'm finally in control of my own property again."A Year Later: Anthony's New Reality
We caught up with Anthony recently, a year into his short-term rental journey with us. The change in him was remarkable.
"Remember how stressed I was?" he laughed. "Now, I'm looking at buying a second property. I never thought I'd say this, but I actually enjoy being a property owner now."Here's what Anthony's year looked like:
- Occupancy Rate: Averaged 85% (up from 60% when he started)
- Revenue: 15% increase compared to his long-term rental income
- Personal Use: Used the apartment for 3 weeks himself
- Maintenance Costs: Down by 13% (turns out, short-term guests are often more careful than long-term tenants)
Is Short-Term Rental Right for You?
Anthony's story isn't unique. We've seen it play out time and time again with property owners in Dubai. But is it the right move for you?
Here are some questions to ask yourself:
- 1. Do you want more control over your property?
- 2. Are you tired of being locked into long-term contracts?
- 3. Would you like the option to use your property yourself occasionally?
- 4. Are you interested in potentially higher returns, even if they're less predictable?
- 5. Are you open to a more hands-off approach to property management?
If you answered yes to any of these, you might be ready to make the switch to short-term rentals.
"I wish I'd done this years ago," Anthony told us. "Sure, it was scary at first, but now? Easy peasy. I couldn't imagine going back to long-term rentals. It's like I've finally unlocked the full potential of my property."
Whether you decide to partner with a company like Homevy or do it alone, the short-term rental market in Dubai offers unlimited opportunities. Just ask Anthony - he's living proof that sometimes, taking a risk can pay off in ways you never expected.
Up Next; Shall we start writing your story?
If Anthony's journey has sparked your curiosity, it's a sign to take the first step.
Let's chat about your property and see if short-term rentals could be your next success story. No pressure, no obligations - just a friendly conversation about the possibilities. Who knows? You might be surprised by what your property could achieve.
Click the button below to schedule a free, no-strings-attached call with our team. Let's explore how we can get you some juicy ROI, just like we did for Anthony.
Note: This case study combines factual elements with illustrative scenarios to demonstrate common challenges faced by property owners and how Homevy approaches them.
