It can be hard to be a landlord. There are many things that must be done to succeed as a landlord. A landlord must collect rent while not being too aggressive or too passive. A landlord must also be able to get along with tenants and be able to have good communication with them, especially about property repair. Finally, a landlord must invest in the right properties.
Choosing the right properties and having the right tenants obviously go together. This is especially true in large cities, such as in Dubai, which is in the United Arab Emirates (UAE). The city of Dubai is extremely diverse, and no two tenants will be the same or have the same life story. They will be young, old, private individuals, or extroverts. They will have different jobs, different families, and more.
So, how does a landlord choose the right properties and have the right tenants? While it can be hard to know in advance whether certain tenants are a good fit for a landlord, landlords can generally predict the type of tenants they will have that will rent the property of the landlord. Landlords can predict the type of tenants they will have in their apartments by looking at rent prices, amenities, features of the apartment, and attractions in the area where they will lease properties.
If you are looking to invest in apartments for sale in Jumeriah Village Circle (JVC), read on to discover the type of tenants who will live in JVC.
From the Middle Class and Beyond
First, a landlord can predict the income level of a tenant using rent prices. Dubai used the dirham (AED) as its currency. The lowest annual rent in JVC is for a studio apartment that costs AED 19,999. The highest rent in JVC is for a two-bedroom apartment that costs AED 150,000 annually. If there are only two people that live in that apartment and contribute to the rent equally, then each would make an annual income of AED 75,000. This does not include utilities, necessities, groceries, or entertainment. All four of these will push the annual income that a tenant has even higher.
Environmentally Friendly and Enjoy the Outdoors
Next, a landlord can predict that tenants will be environmentally friendly and enjoy the outdoors by looking at four data points. First, the apartment will have a gazebo and outdoor entertainment area. Next, there will be a private outdoor dining area, a balcony, a terrace, and a veranda. Third, there are public parks. Finally, the apartment will use energy efficient lighting systems and some buildings will be green buildings. Thus, if a landlord adds all these factors up, they can predict that tenants will be environmentally friendly and enjoy the outdoors.
Physically Active
Finally, a landlord can predict that tenants in apartments in JVC will be physically active. They can project this using three data points. First, JVC is home to both a basketball court and a golf club and clubhouse. Next, JVC has jogging tracks and a shared gym. Finally, JVC has a shared swimming pool. These three data points indicate that tenants might like exercising.
Conclusion
Using the data points found within rent prices, amenities, apartment features, and attractions in the neighborhood, a landlord can reasonably project things about potential tenants. First, rental prices indicate that tenants in JVC will be from the middle class and beyond. Second, amenities and apartment features indicate that tenants will be environmentally friendly and enjoy the outdoors. Finally, attractions in the neighborhood show that tenants might be physically active.
If you are a landlord looking to invest in apartments for sale in Dubai and would enjoy having tenants who are from the middle class and beyond, who ae environmentally friendly and enjoy the outdoors, and who are physically active, now is the best time get some apartments for sale in JVC!
