6 Mistakes You May Make When Signing Up With Dubai Rental Property - Part 2

Continued from Part 1

4. Missing out on visiting the apartment before moving in: Take a good look at the place because it is going to be your home for a while even if it is not on a long term basis. You don’t want to move in and find out the pipes leak or there is not enough room to hold your dresser table, etc. Hence, talk to your landlord before you move in about all the things that need to be fixed and taken care of. You can check the faucets and the flush in the toilet. Check the power by turning on the lights, the air conditioner and other sockets for the appliances you would use. You can even go and pay a visit to the neighbours just to know how the place is overall. This way, you won’t even have to pay extra for stuff that is damaged or worn out. Another good practice would be bringing a measuring tape and just trying to picture your furniture in the given space and so on.

5. Not reading the lease thoroughly: A lease is a legal requisite, a contract that has to be signed between you and the landlord. It is a type of form that tells you exactly what your rights are and the specific rules you must follow when renting an apartment. Read it with an absolutely focussed mind and make sure you understand all the terms and conditions before signing the dotted line. It will talk about the different fees, fines, restrictions, length of the lease (say, six months or one year), your rent, security deposit, etc while you are staying. If at all you don’t understand, do not worry, but get it explained and don’t be in a rush. Besides, make certain you know what happens to your lease agreement at the end of your term. Also know what is the notice period before you can relocate.

6. Taking insurance too lightly: Buildings are most of the time insured, but have you thought about your own personal insurance? What if you had to lose or probably break or dent your valuables in the event of theft, fire or any form of calamity? Nobody would take the blame, right? Thus, always get your valuables insured. It is true the insurance won’t stop a water leak, but it can always endow you with financial reimbursement.

Dubai is indeed one of the hottest markets when it comes to buying rental property and if you are smart enough you would know exactly what to do and when. Also, keep in mind the above six pointers and you will be good to go! All the best!

6 Mistakes You May Make When Signing Up With Dubai Rental Property

You could have taken up higher studies or taken a job in Dubai and have finally moved out of your parent’s home to make a career. Of course, getting your first real place is exciting, but at the same time it can become a nerve-racking experience. If you have invested your hard earned money, you are obviously looking out for peace and sanity, but if you don’t get it, what is the use of having your own space? And, no, I don’t mean in terms of less space or frustrating neighbours. Things could get worse than these, wondering what? Read on to know the five mistakes that could lead to major trouble if they are not taken care of in the beginning itself.

1. Always have Plan B: Whatever you do, it is always advisable to have a plan B. Now whether you are choosing between a career, a job, a home, etc you need to have a backup. It helps because you know what you can rely on if a certain thing ever has to fail. For case in point, if you have made up your mind to relocate make certain that you have talked about it with your parents. Talk to them about the possibility of moving back in if things have to go bad. Another alternative could be asking your relatives or friends for a helping hand if at all things go kaput at the last minute.

2. Save up enough money and stick to a budget:  Rentals in Dubai vary depending upon the location you choose. For example, if you choose a place near Jumeirah Beach the rates surely will be more than when you choose to live in at Bur Dubai. Thus, you should opt for a rental apartment that fits your needs and requirements along with your budget. Technically, you should not exceed beyond 30% of your total income and this includes your security deposit. I lay emphasis on sticking to a budget because it will tell you exactly how much money can be spent on rent, to feed yourself, as well as help keep the utilities running.

3. Get your priorities straight than regretting later: As mentioned earlier, rental properties in Dubai differ as per your needs. So, before you book one, make sure that you write down a list of all your basic requirements and then make a separate list of your additional wants. By additional wants I mean, the wants that would be nice to have, but you could live without them. For example, a fully furnished apartment, a gymnasium, a Jacuzzi, etc can be things you can easily miss and not regret, whereas safety and security, parking lot, transportation facilities, etc are things you simply can’t do without. Therefore, sort out your basic needs first.

For the next 3 pointers click here.