1. Select the Appropriate Location
It's crucial to go for the right location when deciding and selecting a property to invest in, as a suitable location will showcase the ROI from the property after a few years. In addition, Dubai is the ideal place with the best-in-class locations to invest in, like EMAAR, DAMAC Hills, Dubai Marina, Dubai Creek Harbour, Dubai Downtown, and more communities.
2. Understand The Value of Maintaining Property
Regular property inspection and maintenance are the crucial factors that could bring you the best ROI Dubai property. Engage vendors, hire contractors, and ensure you'll get excellent money value.
When you enhance any aspect of the landscaping or home-interior design or keep up the maintenance, the property will undoubtedly yell a higher rent, which is good for you.
3. Consider the Tenants' Preferable Value
An intelligent landlord must provide tenants with value-adding traits to escalate ROI, like parking, 24*7 security, appliances, and storage space. These amenities can escalate the value of property and aid in making it different from the competition. It's vital in protecting a good investment and gaining high returns.
4. Understand the Market Condition
Observe the market and the ongoing competition if you want to accelerate your ROI by raising the rent. You must escalate the rent periodically to match the existing rates of the market and comparative rental prices of similar units in your region.
If you don't increase your rent, you will be unable to raise your profit margin. A unit must be rented for many months in a series, as you have set the rent rates high, or else it will result in no income and a massive loss from that property.
5. You Should Opt for Leasing in Place of Short-Term Renting
Long-term leases are the specific option for some tenants who are overwhelmed to pay extra in place to secure long-term rents. Nonetheless, offering dynamic lease terms enables you to retain existing tenants despite searching for new ones.
