Economic situation is not stable anywhere in the UAE and majorly affected sector is that of Dubai real estate. Several policies and strategies are devised and imposed by government that will slowly begin to yield favorable results for landlords and investors.
However, landlords consider the real estate situation hopeless and have been renting out their properties. This trend produced a spike in the prices of rents, making it difficult to find tenants. Dubai is a big city with hundreds and thousands of properties available for rent and everyone cannot get good rental prices for their property.
In the following post, I want to sum up a few tips for landlords to ensure that their properties don’t remain vacant for long.
Get started with your property!
Rental properties which remain unoccupied for long period of times lose their value with the passage of time. Tenantless or vacant houses and apartments do not really have to look deserted, creepy and haunted because that obviously can only repulse the prospective renters. You house must be neat and clean all the time even if it is unoccupied.
The prospective tenants should not find any lingering stench which often clings to houses which remain closed for a long time. Your house must be free from all kinds of odours, any signs of cracks in the walls and squeaking doors, etc. Fix them all before showing your house to any tenant because no tenant will take any risk of renting a property which so obviously looks haunted.
Get the right market value of your property!
When it comes to evaluating your property, it is best to ask a few reputable agents to evaluate look into your property and give you a quote so that you can give your prospective tenants a figure. Never ask real estate agents to get you a tenant at the highest rental value because a promise like that can hardly be kept.
Think what works best for you as a landlord. Would you like to find a tenant quickly or keep your home vacant for six or seven weeks trying to find a tenant that is happy to pay a fortune? Be mindful of the fact which I mentioned earlier that by choosing to keep your house tenantless for a long period of time, you devalue your property. Never waste time waiting for a tenant who might never come!
Try online advertisement!
You cannot give up on the idea of renting your property without proper advertisement. Gone are the days when people used to buy newspapers to see the property classifieds. It’s computer age. So you must decide quickly how to engage new tenants. Try and get hold of them by using all means available. Go online and advertise your property on different real estate portals. Take it from me, property images, floor plans, property highlights and detailed descriptions tend to ignite more interest from the tenants.
Provide quick access to your property!
Never keep the potential tenants waiting by delaying the staging of your property. It is because they are not only visiting your home but many others as well. So if you are busy yourself then you better make sure that either you secretary or security guard gives a tour to prospective tenants when they arrive. Let the tenants visit your home at their convenience, without asking them to abide by your strict schedule.
William King is the director of Dubai Properties, real estate agents and Dubai rentals. Being an entrepreneur and a passionate blogger, he likes to share his expertise and knowledge with the startups by writing for various related blogs.
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