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Dubai’s most popular renting areas

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buy a rental property

With Dubai’s constantly growing popularity, a great number of people from diverse backgrounds have been moving into the city. Renting is a popular choice for many of these individuals, which means that now it is certainly a good investment to buy a rental property. In order to ensure you can make a good profit out of renting, it is important to consider the areas that are gaining the most popularity among tenants throughout Dubai.

In this article, we will talk about Dubai’s most popular areas for renting homes. From the most known locations to the advantages of renting a property, here are the points to be explained:

1. Which are the top renting areas in Dubai?

2. Which are Dubai’s new districts for best rental returns?

3. How do you register a rental agreement in Dubai?

4. What are the advantages of renting a property in Dubai?

5. How to invest in rental properties?

6. Why you should consider buying rental properties?

7. How can Connect Property help you rent a property in one of the most popular areas in Dubai?

1. Which are the top renting areas in Dubai?

Buying rental property has undoubtedly become a common business practice throughout Dubai. There are certain popular areas that have experienced a remarkable increase in their number of tenants, which is something that property owners can greatly benefit from.

Many factors come into play as you try to capture the interest of a potential renter. Some individuals may be looking for a luxury property, while others might be trying to find the most affordable apartment or villa. Regardless of the reasons, here are some of the best places to buy rental property:

  • Jumeirah Village Circle has kept its place as the most popular area for affordable housing. An ideal community for families, this place has seen a 4.76% increase in the rental value of its apartments. If you are looking for an excellent area for people with smaller budgets, a rental investment here is a great choice.
  • Dubai Marina and Downtown Dubai are leading the number of searches. Other areas such as Jumeriah Beach Residence, Al Barsha, and Palm Jumeirah also kept a strong interest among people looking for more expensive rental property.
  • In general, the average rent for villas surged 20% by the end of 2021. The high demand for popular locations such as Dubai Hills Estate and Arabian Ranches is the main cause of this trend. Mirdif, Akoya Oxygen, and JVC have also seen a high increase in demand for affordable villas.
  • Areas close to Expo 2020 have also reported a major increase in demand for rental property. This event has notably brought many foreigners that are temporarily staying in Dubai. Because of this, deciding to buy a rental property in one of these locations is an excellent investment.

2. Which are Dubai’s new districts for best rental returns?

Dubai remains one of the top worldwide cities when considering a long-term rental investment. According to most recent reports, new districts appear to be the best places to buy a rental property. The latest statistics have indicated that Dubai’s rising and budget leasehold areas grant the biggest returns of about 9%, succeeded by mid-range developments such as Jumeirah Lake Towers and The Greens. Some of the emerging areas providing extraordinary Dubai rental yields are:

2.1. Dubai Silicon Oasis

An awesome-designed development, Dubai Silicon Oasis embraces 7.2 million sq. m and is a fully interlaced living functional neighborhood. Featuring high-rises and homes, buying rental property in this development offers residences with access to everyday amenities, schools, and restaurants. Within a 10-minute drive, residents have the possibility to enter the Festival Centre, Dubai Outlet Mall, and Mirdiff City Centre.

2.2. Dubai Motor City

Get to experience the world of Formula One in Dubai. Conceived as a motor-sport theme area, this brand-new district offers apartments, studios, and serviced apartments for rental investment purposes. A self-sufficient neighborhood in Dubailand, Motor City displays a variety of entertainment, leisure areas along with residential and commercial offerings.

2.3. Business Bay

Located next to Downtown Dubai, this district offers different types of both commercial and residential properties within the buy of rental property. Being within a short distance from the airport and situated between Al Khail Road and Sheikh Zayed Road, makes traveling to other places easier.

2.4. Discovery Gardens

A garden-inspired rental neighborhood, Discovery Gardens is a charming, family-oriented development. The Ibn Battuta shopping center is one of the main attractions. The accessibility to the subway and the fact that the community has excellent equipment such as playgrounds, swimming pools, cycling paths, jogging trails, tennis, and basketball courts stand out.

3. How do you register a rental agreement in Dubai?

Increasingly, many foreigners choose the UAE as their new place of residence. Some of them purchase real estate in Dubai to make a profit by buying rental property to ensure prospective investments. In this manner, each foreigner has their reasons for coming to the city. But at some point, many of them experience problems with housing rental in the UAE. However, these difficulties vary as some search for tenants and others look for rent to own houses.

In order to avoid forthcoming arguments between the tenant and the homeowner, both parties must settle a contract. The UAE government developed a precise registration framework that notably reduces the risk of conflicts.

This way, there is the Ejari which is a system for registering a lease agreement for a buy of rental property in Dubai. A state-created procedure for the registration, regularization and manage all renting contracts in the emirate. The registration in the Ejari system confers you the right to attend court if there are complications with the landlord or tenant. Thereby, the court is required to intervene in the case. If the contract is not registered in the Ejari system, the request is dismissed automatically.

Typically, when the landlord is involved in the registration process of the contract in Ejari, they begin the procedure, and the tenant or the representing company concludes it. To list for the application, you have to provide your Emirates ID in case you are a native of the country, as well as a copy of your passport and visa.

Then, you will also need to upload all the requisite documentation for the request including the rental agreement, ID cards, copies of the passports, and visas of both parties, besides a copy of the certification of property possession.

4. What are the advantages of renting a property in Dubai?

For anyone entering the real estate market, buying a rental property is an option that has to be carefully considered. Many people moving into Dubai decide to rent a property as it is the best choice for their finances. As you go into the buy-to-rent business, it is important to understand the reasons that make renting a better option for many individuals. This will ensure that your rental investment is successful in the long run.

  • Renting is often a better fit for a limited budget. All of the charges that come with buying a property, such as rental fees, registration fees, and extra charges are lower if you rent a property.
  • Renting a property has a temporary commitment. For anyone that is just looking for a temporary home, a yearly contract is ideal instead of a purchase. Other contracts such as the ones in rent-to-own houses are a better option for individuals trying to eventually acquire the property.
  • It is easy to relocate. Tenants that need to move from an area constantly consider renting a better option for easier mobility. When you make your rental investment, keep in mind that there are many potential tenants looking to use this advantage in their favor.

For anyone looking to buy a rental property, understanding the benefits tenants want is essential to guarantee your business thrives. Rental property investments are a market that can bring a considerable profit if you keep your customers satisfied with their contracts and benefits.

5. How to invest in rental properties?

Making a rental investment is one of the cleverest ways to secure your financial future. By buying to rent a property, investors can generate regular income and gain the title of a valuable asset in the real estate market. At the same time, renting to own houses before buying is a possibility and functional path to homeownership.

In modern times, the housing market’s difficulties to buy a rental property through conventional methods have increased significantly. In particular, with the increasing investment and short-term rental occupancy. Whether you are looking for rent-to-own houses in your area of research or buy-to-rent properties, there are fundamental aspects to take into consideration when investing in rental property.    

 5.1. Becoming a landholder

It is vital to ask yourself first if you feel at peace with becoming a landlord. Implying that you will have to embrace the world of rental agreements, understanding landlord-tenant laws, insurance, and utility payments. 

5.2. Hiring a property manager

Living in one unit and renting out the others is a way to own property as you generate regular income. You will need to deal with renters right away. But in other circumstances, you might desire to enlist in the services of a property manager. This way, property managers act as your representative and commonly manage rent collection, maintenance, and contact you for updates often.

6. Why you should consider buying rental properties?

It is important to have an excellent and manageable real estate investment plan and look for the best places to buy a rental property. The very initial step that the majority of real estate investors do in their investing paths is buying a rental property. Caused by rental properties being a very captivating option when it comes to a risk-free investment that produces high returns.

In addition, rental properties offer a secure revenue stream and money growth. In the case of a buy-to-rent property, be certain to purchase in the right place where there is a high demand for house rental and get a renter who is capable to pay the rent. Moreover, it is easier to expand your investment.

Once you gain success with your first property purchase, you can either decide to sell and make an interesting profit or get back to the bank, equipped with strong financial books and look for the application for a bond to buy a secondary or thirdly investment.

7. How can Connect Property help you rent a property in one of the most popular areas in Dubai?

At Connect Property, we are committed to helping you in any rental investments you may have. Whether your business deals with rent-to-own houses or you are doing a buy-to-rent contract, Connect Property can assist you. We are an online marketplace that connects property sellers, renters, and owners with potential buyers.

Thanks to our detailed listings, customers can quickly find the best places to buy a rental property. Our advanced resources to search for properties provide an intuitive and easy experience for anyone seeking out a rental investment.

If you ever need assistance or have any questions about our website, we have a readily available 24-hour support hotline. Thanks to this service, we can guarantee a satisfactory experience for you. Buying and selling real estate is now a much simpler process thanks to Connect Property.

Would you like to receive our help to rent, buy or sell property in Dubai? Contact us through email at contact@connectproperty.ae. We will answer any questions you may have regarding your options to buy or rent a property. Also, we will make sure you receive a response as soon as we receive your request.

If you want to send your CV to us, go to thetalentpoint.com. Resumes forwarded to contact@thetalentpoint.com are not being stored.

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