"Should I do short-term rentals or stick to yearly leases?"
Without doubt, every property owner in Dubai faces the same question.
While everyone claims Airbnbs make more money, proving it has always meant diving into endless spreadsheets and calculators — and that's exactly what frustrated Homevy's founders into creating something that's now reshaping how Dubai's property owners make decisions.
The Problem with "Just Trust Me"
"Property owners would come to us asking a simple question - how much more could they make with short-term rentals?" says Kayode Faturoti, who co-founded Homevy with Kyle Johnson. "We'd end up saying 'let me check our spreadsheets and get back to you.' Nobody wants to hear that. They want answers now," Kayode explains further.The challenge wasn't just about quick answers.
Take Downtown Dubai during peak season - a property might earn three times more than usual. But what about those quiet summer months? Or when there's sudden competition from new buildings nearby? Making promises about returns without solid proof was risky, especially when property owners had bills to pay and mortgages to settle.
"We were doing these calculations manually for every single property," Johnson remembers. "One night, after our fifth coffee and hundredth spreadsheet, we looked at each other and thought - there has to be a better way."
That's when they built Dubai’s first str-vs-ltr profit calculator — a tool that could instantly tell them if a property would work better as a short-term rental or yearly lease.
But it wasn't just about the numbers.
"We made it think like an experienced property manager," explains Johnson. "Not just about basic costs and income, but everything - from how much you might spend on emergency AC repairs, to whether you'll need more frequent painting with short-term guests, to how close you are to the Metro station and what that means for your pricing."
When a guest asks for a last-minute discount, the tool can instantly tell if it's worth accepting or if it's better to wait for a full-price booking.
"Last month, a property owner came to us with a one-bedroom in Studio City," Faturoti shares. "Everyone had told him short-term rentals were the way to go. But the tool showed us that — with his specific unit layout and location, he'd actually be better off with a yearly lease if the income was his priority and not the other advantages of short-term rental. That's the kind of clarity property owners need."
Take Downtown Dubai during peak season - a property might earn three times more than usual. But what about those quiet summer months? Or when there's sudden competition from new buildings nearby? Making promises about returns without solid proof was risky, especially when property owners had bills to pay and mortgages to settle.
From Spreadsheets to Smart Solutions
After one too many late nights with spreadsheets, Faturoti and Johnson decided enough was enough."We were doing these calculations manually for every single property," Johnson remembers. "One night, after our fifth coffee and hundredth spreadsheet, we looked at each other and thought - there has to be a better way."
That's when they built Dubai’s first str-vs-ltr profit calculator — a tool that could instantly tell them if a property would work better as a short-term rental or yearly lease.
But it wasn't just about the numbers.
"We made it think like an experienced property manager," explains Johnson. "Not just about basic costs and income, but everything - from how much you might spend on emergency AC repairs, to whether you'll need more frequent painting with short-term guests, to how close you are to the Metro station and what that means for your pricing."
Making Smart Decisions in Real Time
The tool quickly proved its worth in real-world situations.When a guest asks for a last-minute discount, the tool can instantly tell if it's worth accepting or if it's better to wait for a full-price booking.
"Last month, a property owner came to us with a one-bedroom in Studio City," Faturoti shares. "Everyone had told him short-term rentals were the way to go. But the tool showed us that — with his specific unit layout and location, he'd actually be better off with a yearly lease if the income was his priority and not the other advantages of short-term rental. That's the kind of clarity property owners need."
Real Numbers, Real Results
The results speak for themselves.Homevy now consistently promises its Dubai property owners at least 20% more money than they'd make with yearly leases—but only when it makes sense for that specific property. "We're not here to push everyone into short-term rentals," Johnson emphasizes. We're here to help them make the right choice for their specific situation."
Opening Up the Secret Sauce
In an unexpected move, Homevy plans to share the str-vs-ltr profit calculator with other property managers.But why give away their competitive advantage?
"We built this because Dubai’s property management industry needs it," Faturoti explains. "Too many property owners are making huge financial decisions based on “vibes” and hearsay. If we can help more people make smart, data-backed choices about their properties, that's good for everyone - owners, managers, and ultimately, Dubai's real estate market as a whole."
Right now, the str-vs-ltr comparison calculator is already changing how property owners think about their investments. Instead of relying on gut feelings or vague promises, they're making choices based on real numbers and clear projections. In a market like Dubai's, that kind of clarity isn't just helpful - it's essential.
For more information about the str-vs-ltr comparison calculator and Homevy's property management services, visit www.homevy.com