As COVID-19 keeps the UAE under lockdown, it has also spurred digital transformation and innovation across sectors, with Urban today launching a digital Landlord Dashboard, empowering landlords to track performance of their properties, store documents and manage payments – all in one place.
Unlike other services in the market which focus on a single aspect of the rental cycle, Urban’s landlord dashboard is the first of its kind to provide data analytics across the entire rental journey to help landlords make better informed rental decisions and achieve optimal asset performance, from the moment a property is listed to property management.
Commenting on the launch, Rashid Al Ghurair, CEO and founder of Urban said: “In the current Covid-19 environment, our Landlord Dashboard empowers landlords to make better informed rental decisions predicated on data-led insights, resulting in higher occupancy rates, optimal asset performance and greater returns. Landlords need to actively manage their portfolios and our digital rental solution ensures that for the first time they have clear visibility on their portfolio and the tenant market rather than taking a stab in the dark on letting, pricing and management.”
Urban’s one-stop platform includes real-time analytics on the landlord’s portfolio, such as the number of visits per property, data-driven pricing information on offers received, and calculations on rental yields and return on investment. In the near future, Urban plans to introduce an additional feature that will allow landlords to make data comparisons with aggregated market data on property types, rental levels and locations.
The pioneering digital rental solution comes at a time when the novel coronavirus pandemic has created an urgent need for a tool that accommodates landlords and tenants equally to achieve their goals. Renters are still on the hunt for homes and taking the journey online in terms of viewings, negotiations and payments, while landlords need to innovate to market their properties in ways that are safe and accessible.
In recent weeks, Urban has experienced a surge in active daily users and in the number of offers submitted for listed properties via the app. Similarly, Urban has seen landlords throng to the platform, with an average week-on-week increase of 256% in new listings in the month to 14 April 2020. Urban attributes the rise to its strong value proposition, including professional photography, virtual tours, comprehensive inspections, frictionless payments and full management services.
Tala Nsouli, General Manager of Urban, added: “Covid-19 has shaken the foundations of the traditional property sector, accelerating the adoption of the digital-first environment by landlords and tenants. We took the decision to take the entire rental journey online from the outset, so our Landlord Dashboard is yet another compelling feature as part of our disruptive proptech offering, ensuring we’re working as their adviser. We are putting the power of data at the heart of decision making, empowering landlords to make informed decisions and giving transparency during every step of the leasing process, including virtual viewings, physical visits, negotiations and payments.”
The digital dashboard is available now and is free to use. Landlords who list on Urban will receive exclusive access to the tool for properties they have listed on the platform.
Key features of the dashboard include:
• Tracking performance: Number of visits to listed properties, total rent collected vs. amount outstanding, rental yield calculator across properties, and tracking expenses, overdues and defaults.
• Digital storage: Inspection reports produced by Urban, contracts, terms agreed, and documentation history, all of which are encrypted and saved on the app
• Manage payments: Ability to track rent collection across all properties in the portfolio, with status updates, including amounts pending and expenses made
