The Pros And Cons Of Investing In Furnished Rental Apartments In Dubai

If you want to be the owner and manager of a rental apartment unit in Dubai, there are many important factors you have to consider before taking on this big responsibility. First and foremost, you have to make sure you will invest in the right property or apartment to invest in. One of the next things you have to consider is whether you will lease this apartment as is or as a furnished one.

What You Should Know About Letting A Furnished Apartment

Furnished apartments, Dubai investors should know, come with both advantages and disadvantages. Below are the pros and cons of letting furnished apartments:

PROS

Higher rent. In general, furnished properties offer higher yields compared to unfurnished ones. This is because tenants are more than willing to pay for more in exchange for convenience. In addition, short-term leases are (more often than not) not covered by traditional leases and regulations which apply to longer leases.

More flexible rental contracts. Furnished apartments are usually leased for shorter periods. As a landlord, you will enjoy ample flexibility — a huge advantage if you plan on using your apartment for vacations or other purposes.

You will have better tenants. Furnished apartments generally tend to attract better tenants. This is especially true if you own a property located in the city centre and have professionals as tenants. These tenants are less likely to damage your property.

Your property will have lower risks of being damaged. Lastly, since your tenants do not have to furnish the property and bring in big furniture, they are less likely to damage the walls of your property.

CONS

More investment is required from your part. If you want to rent out a furnished apartment, you will have to invest a sizeable amount of money from the onset to buy pieces of furniture and appliances. And this investment will not be a one-time thing. Over time, you may have to replace certain pieces inside the apartment.

High turnover rates. Furnished apartments have a higher turnover rate due to various market forces including the weather and season, the holidays, currency exchange rates, etc. This means that you will always be on the lookout for new, possible tenants.

Less potential tenants. Finally, not every tenant is on the hunt for furnished properties since many have possessions that they wish to bring with them when they move. As such, you need to be aware that your target market for your furnished space may be considerably smaller.

Before deciding to let a furnished apartment, consider the pros and cons first. In addition, take into consideration other key factors such as the space of the apartment and your budget.

About the Author:

Meredith Wilson is a property investment consultant. She recommends getting more ideas about what furnished apartments in Dubai look like on DAMAC Properties’ website.

What Real Estate Companies In Dubai Do During The Construction Phase

Every property goes through construction and development. Both of which are difficult to accomplish, even for reliable Dubai real estate companies. Hence, you must look for a great team with the right experience and knowledge to make sure that you will have an aesthetically appealing property. There are indeed a couple of things you may notice in a real estate builder. And these can help you in determining if they are the perfect people for building your property.

Qualities You Must Look For In An Experienced Real Estate Company

Conducts meeting on a regular basis to set day-to-day agendas – It is very important for a team to be in line not only with the plan but also with one another so they can execute the construction phase accurately. An experienced company leader knows exactly how communication can greatly influence the performance of a team. Hence, you need to find a development team that efficiently and constantly communicate with all of its members. After all, conducting a meeting is a great way of knowing the ideas of every team member to enhance the workflow or perhaps to resolve a current problem happening within.

Works with reliable suppliers – Suppliers will play a huge role in the whole process. They are actually the ones who will dictate the budget. Hence, you need to opt for a development company with a huge network of suppliers so you will have better options. Moreover, the suppliers will determine the material’s quality. Some of the things to consider when choosing the best supplier will include the durability of the tools and the sturdiness of the wood.

Wears the proper safety gear – You can just imagine the medical costs of a worker who will suffer from an accident while building your property. Moreover, you will surely suffer guilt toward that person – and this can greatly affect the work. To most people, this may seem a little thing. Remember that wearing the right safety gear while on the site is very crucial, most especially when it comes to the expenses you may incur when accidents happen.

Strategically designs and positions all the property’s components – Of course, you do not want to have a property with poor interior layout wherein a large cabinet blocks your bathroom. You need to work with a team that is very logical and will consider all the aspects of the construction – these will include the placement of fixed home components, water system, and wiring. Though logic is important in the whole process, experience still is the best teacher in terms of planning.

The Merits Of Investing In Tuckpointing Services For Your Brick Building In Chicago

By Marcus Henson, a property renovation consultant, with resource info from http://soumar.com/services/multi-unit-residential/.

Chicago started and experienced its financial and business boom in the early nineteenth century. This then led to a big boom in construction. Industrial and office buildings and structures were being put up and new neighborhoods and villages popped up all over the city. Most of these infrastructures were made of brick since this was an affordable and abundant building supply back then.

Aside from being easily accessible and affordable building supplies, bricks are durable products. They can withstand fluctuating weather conditions. Buildings made of bricks also do not suffer from regular structural problems such as termite infestations, erosions, and loss of paint colors. They also do not require intricate and consistent maintenance. Bricks can also easily adapt to temperature. In the summer, you will find that it is not too hot inside a brick house or building and during winter, bricks are reliable conductors of heat. Bricks can also absorb or reduce noise from the outside surroundings.

Common Issues And Problems You Will Encounter If You Own A Property Made Of Bricks

Certain problems or issues with brick structures also come up eventually. One of the usual problems would be mortar erosion, usually caused by harsh and extreme changes in the weather and temperature which is a usual occurrence in the city. In addition to erosion, small cracks or crevices can also start to appear on any structure built out of bricks and over time, these can get bigger, ugly and even dangerous.

These problems though can be easily remedied through tuckpointing. Fortunately, there are various Chicago tuckpointing companies that you can get help with repairing and restoring run-down brick infrastructures.

Getting Help From Tuckpointing Specialists

Once you decide to get help from reputable and skilled tuckpointing experts in having your brick house or building restored or repaired, you can reap the following benefits:

• Replacement of decaying mortar with new mortar and strengthening the mortar joints, therefore preventing further deterioration of the structure.

• Additional density to the most porous surfaces to minimize the entry of moisture, mold and mildew which can cause aesthetic and structural damage.

• The look of your brickwork will be enhanced and restored it to its original grandeur.

• An increase in the curb appeal and value of your property.

• Lastly, you can save money and natural resource since the existing structures are protected instead of tearing them down to build new ones.

Building experts say that the beauty of brickwork usually becomes even more pronounced as it ages. But such structures will also greatly benefit from and enhance its appearance from a little touch up now and then. When you invest in tuckpointing services, you can reclaim the grandeur and durability of your brick building or house today and in the years to come.

Some Considerations When Planning To Invest In A Property

Though seasoned investors make it look easy, real estate property investment is not a simple and uncomplicated endeavor. Property investors also made a couple or more mistakes when they were starting out in this business and they simply learned greatly from these errors and have improved and even perfected their craft as they progressed in this industry. So if you are seriously looking into investing in a real estate property for the first time, below are some considerations you need to know and understand.

• Have a plan. Since it is your first time to invest in a real estate property, you need to come up with and make a workable plan for this endeavor. This plan should involve the budget you have allotted for the property, the term of payment you want to apply in your investment, where the property should be located, etc. You need to have a definitive plan that you have to follow or work with so that you don’t waste your investment money and that you don’t invest in the wrong property or deal.

• Consider the value. Properties that come in cheap are usually not of good value. The original owners may be so dissatisfied with the property that they are willing to sell it a very low price so that they can unload it immediately. As such, you have to be very wary of such tricks. Look carefully into every aspect and detail of the property and its history as well before buying it just because it falls into your working budget.

• Get an inspection report. If the owner of the property doesn’t want to spend money on this, consider shouldering the expenses for a thorough property inspection. The evaluation report will be worth your outlay for this endeavor anyway. With the help of a professional property inspector, you will find out if there is any structural issue inside and outside the property.

Investing in a real estate property, especially for the first time, can really be tricky. To get more helpful ideas and tips about property investment, click here.

The Costs Of Buying Properties – REIWA Agents Provided Some

Buying a property is a huge decision any person can make. Though it can be a very rewarding experience, know that there are many factors to consider. Besides, this can become a very solid investment in your long-term financial future. Be reminded through that the costs involved with such must be properly taken into consideration prior to jumping into it.

Experts highly emphasized that there are plenty of outgoing costs that might hurt you when you are not aware of them. Thus, REIWA agents cited some.

Different Costs Of Buying

Home Deposit – This is a once-off payment in order to secure the purchase as well as funding of your new home. Generally, the amount required is about 10% of the asking price. During settlement, you might be required to pay the difference between the deposit and the purchase price.

Mortgage Registration – When you are going to take out a mortgage in order to fund the acquisition of your new home, it is indeed a requirement that the deed must be registered with the Western Australian government. Be knowledgeable that this registration will need a once-off processing fee.

Mortgage Repayments – This is commonly paid every month. It is determined by certain factors which include the type of loan you have taken out, the payment type, the amount of the money you borrowed and which institution you use. Over time, this amount can fluctuate when the interest rate changes.

Mortgage Account Fees – This will greatly depend of which financial institution your mortgage is with. Know that you might be required to pay an annual or perhaps a monthly account fee. In order for you to find out what extra fees will apply to your loan, you have to speak with your lender.

Transfer Duty – This is previously known as Stamp Duty. This is a state government tax which is based on the purchase price of the property.

These are just some of the different costs of buying a property. To learn more about the other costs associated with property investment, check out reiwa.com.au.