As a landlord, building your real estate portfolio can be hard. You will have to identify your short, medium, and long-term goals for making a profit, figure out what your return on investment could be, and more. You will also have to deal with tenants for collecting rent, making repairs, improving the property, and maintaining a positive reputation to keep getting tenants to your properties.
Dubai can help you in your quest to build your real estate portfolio. Dubai has many different neighborhoods where you can find willing tenants, from middle-class neighborhoods to wealthy neighborhoods. These neighborhoods also have many amenities to attract and keep your tenants in your properties for a long time.
If building your real estate portfolio in a city full of life and excitement sounds like a good idea to you, here is a landlord’s guide to getting a villa for sale in Dubai.
Real Estate Broker Options
First, real estate brokers understand that it is highly unreasonable to expect a landlord to pay the entire sum of money for a villa for sale upfront. As a result, brokers have had to devise options that enable the landlord to pay for the property in a reasonable and timely manner.
One such option is that half of the total payment will be due when construction on a property is complete, and then half of the total payment will be made over a course of years. The reason behind this option is that it allows the landlord to pace their payment accordingly and not be expected to pay too much at once.
Another option is that the real estate broker will make you exempt from service charges during a payment plan. This means that any municipal or other charges will be paid for by the real estate broker. This gives savings to the landlord and enables them to pay the mortgage on the property off while not worrying about what might be a substantial amount of fees until the property is paid off.
A final option Is that the real estate broker may discount its properties. Sometimes, this is done because of governmental regulations where a villa is in a special government zone; other times, they simply want part of the rent to help you pay for the villas for rent in Dubai too. Finally, some payment plans do not start for a few years after the property is sold to enable the landlord to collect rent and turn a profit on the property before beginning their payment plan.
Selling Points
Landlords must also be aware of the selling points of their property. In most villa communities, for instance, pets are allowed. There is also broadband internet access and central air and heating inside the villa. However, beyond this, each neighborhood has its own, unique features.
For example, villas in neighborhoods such as Emirates Hills are massive and are practically mansions. The number of rooms that are available is simply staggering. There can even be private saunas and private steam rooms. Of course, this is not to mention superb educational options for children and many, many other great amenities.
In middle-class neighborhoods, most of the villas have the same basic features. In this case, the selling point would be neighborhood. For example, maybe there is a dog park or a polo club. Some neighborhoods might have better restaurants than others. These should be selling points when the villa for sale itself is not particularly remarkable.
Always Do a Walk-Through of the Property
A landlord should always do a walkthrough of the property. He should go to a showing of the villa for sale in Dubai and make sure that the features of the properties match what is on the real estate listing. Even if something minor does not match the listing, the landlord should ask questions and understand the discrepancy.
Fraud is also apparently a problem in the Dubai real estate market. Many realtors have felt the need to state that their property is a “real listing” as a reaction to the fraud and abuse in the real estate market. If you see something advertised as a “real listing,” it does not necessarily mean that there is anything suspicious about the listing itself.
Conclusion
If you are a landlord who is new to Dubai, there are three things you should consider when you get villas for sale in Dubai. The first is the options that a real estate broker gives you to pay back your property. The second is that you should take notes of any selling points about the villa or its neighborhood. Finally, a landlord should also do a walkthrough of the property to ensure that it matches the listing.
Using these three techniques, a landlord will be well on their way to making a profit on their villa for sale in Dubai when they add it to their real estate portfolio.
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