Generate additional income by listing your property on a new vacation platform
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The community-based online platform allows tourists to exchange homes or rent them directly from each other at little to no cost.
Whether it’s a second salary or passive rental income, many residents are looking to generate an additional source of income to improve their quality of life.
Now, property owners, including expats, have an additional source of income by listing their properties in Vacation exchangean affordable travel platform that allows people to book, host or exchange homes anywhere in the world.
“Yes, anyone can list themselves on the platform, including expats who own property here. It is a very flexible platform where you can list any type of property, from an entire house to a room in your house. Most of our hosts have put their entire homes on the platform. While some have listed their rooms or sections of the house, effectively sharing accommodation,”
saying Matthew Davey, Deputy CEO of Holiday Swap.
With more than one million monthly users, Holiday Swap will move its global headquarters to Dubai. The community-based online platform allows tourists to exchange homes or rent them directly from each other at little to no cost. It has over 120,000 listed properties in 185 countries, including the United Arab Emirates, where it has approximately 1,200 listed properties. Its goal is to expand its listings to 400,000 properties by the end of 2023.
Can the tenant sublease?
In addition, he noted that tenants can also list the property on the platform if they have mutually agreed to do so with the landlord or property manager and are legally authorized to do so.
“If you are a tenant and your lease agrees, then yours is open. We recommend that any tenant consult with the owner or property manager.”
he said.
davy He added that they have a very strong representation in Dubai, especially in apartments, as they work with various partners to help them rent their apartments.
“Dubai is strong on apartments, so there is a lot of availability there. Thanks to our partnerships, especially with property management companies, the majority are apartments.”
Vacation exchange It’s also developing some new artificial intelligence (AI) features to help people write good descriptions of their homes. It will also give some good suggestions based on the size of the house, the neighborhood, and nearby landmarks to make listing easier.
Charges and refund
Davey added that there are no fees for listing on the platform.
“But when there is a reserve, we take a small percentage of that.”
He said the rental return rate is based on external factors, but people who list their homes on the platform earn strong returns that help them cover their mortgage.
“It is a source of income… (But) They have to be realistic about the prices charged on the platform. This is often done by looking at the average prices in the area and also the average hotel accommodation prices in the area. So that has to be done in conjunction with local knowledge in and around and the prices of other short-term rental accommodation and the traditional hotel avenue.”
he added.
News Source: Khaleej Times
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