How to increase rent of studio apartment as per current market

[passi0nate]

The Previous Reply Was For SAH ..

 

[passi0nate]

You guys just read the last post and reply .. Please atleast read the last full page .. =))

 

[passi0nate]

And if you can just read the topic .. we are talking about studio here .. not One bed ..

 

[SAH]

passi0nate i m ready for 1 year contract 58,000 2 cheques studio
pm message me for further details.

 

[Polycarp Ambe-Niba]

Is it a good idea to furnish studio at International City before renting? I know the rent is definitely higher, but would it be easy to find tenants for either short- or medium-term leases ready to pay the higher rent, as opposed to paying less on a long-term lease? By the way, does anyone know how much rent a fully furnished studio -- (bed with beddings, dining table, sofa bed and two-seater couch, internet, 32inch Flatscreen TV, fully equiped kitchen with cooker, fridge, etc, washing machine) -- would fetch?
P.A.N.

 

[sameer.dada]

Speaking of short term rent for furnished studios in Dubai, whats the ROI %?
And whats the occupancy % rate in Dubai for these short term (versus long term 1 year contracts)

Thanks.

 

[Roshan]

Is it a good idea to furnish studio at International City before renting? I know the rent is definitely higher, but would it be easy to find tenants for either short- or medium-term leases ready to pay the higher rent, as opposed to paying less on a long-term lease? By the way, does anyone know how much rent a fully furnished studio -- (bed with beddings, dining table, sofa bed and two-seater couch, internet, 32inch Flatscreen TV, fully equiped kitchen with cooker, fridge, etc, washing machine) -- would fetch?
P.A.N.

What works in the Marina might not work at IC. A furnished apartments usually serve upmarket or holiday areas.

Hence a furnished apartment would work well in Marina / JBR / Discovery Gardens ( due to it's proximity to Ibn Batuta ).

IC caters to the medium segment and to a segment who want a low rent. If you add furnishings, it's natural that you expect more rent which might not go down well with most of the tenants.

Regards

Roshan

 

[sameer.dada]

Thanks Roshan. And are there companies in Dubai who take care of the booking, maintenance, the key etc.?

 

[Roshan]

Thanks Roshan. And are there companies in Dubai who take care of the booking, maintenance, the key etc.?

There are property managment companies who take care of everything from rent collection, deposits, maintenance. They charge in the range of 6 to 8% of the rental. Please look into their contracts as each would differ from the other.

If it's only maintenance, try " Hitches & Glitches ". A friend of mine dealt with them on his villa which he rented out and he was quite happy. The charges I was told were reasonable.

Regards

Roshan

 

[Polycarp Ambe-Niba]

Thanks Roshan for this and the earlier posting on the relative advantages in furnishing apartments at Marina or other prime tourist destinations, as opposed to International City. How I wish I had consulted our group earlier. Unfortunately, the agent managing the property at IC has already bought the furniture and is only waiting for its delivery and installation. I will try 3-month short-term leases, pending issuance of title deed. Immediately it is issued I will sell it.

 

[MHCNiazi]

If your 1 bed is rented out for say 55K.
Tenant is evicted legally after 2 years as lease expires.

Can you sign new lease with new tenants at market rate e.g. 75K?

Or are you still restricted to 55k + a small percentage on the new lease with new tenants
Anyone know?

 

[anwar khan]

If your 1 bed is rented out for say 55K.
Tenant is evicted legally after 2 years as lease expires.

Can you sign new lease with new tenants at market rate e.g. 75K?

Or are you still restricted to 55k + a small percentage on the new lease with new tenants
Anyone know?

If your old tenants leave and you get new tenants to occupy your property , you can charge whatever the exisiting rental is....I think its currently 75k to 80k ...thanks

 

[MHCNiazi]

If your old tenants leave and you get new tenants to occupy your property , you can charge whatever the exisiting rental is....I think its currently 75k to 80k ...thanks

AoA Anwar,

Thanks for the informative update!