What Tenants Will Live in Villas for Sale in DAMAC Hills 2 (Akoya Oxygen)?
If you are a landlord, then you know the key to your success is finding the right tenants to lease properties too. You may choose to purchase a villa for sale to then lease to tenants, which usually are a single-family and has two heads of household. The tenants of villas are also more mature than those living in an apartment. If you find the right tenants, you will avoid costly eviction fees, avoid losing money on your property, avoid reputation damage, and will be able to collect rent on time.
The key to finding the right tenants is to find the right neighborhoods. It is a good idea to start with a diverse city in mind, such as Dubai in the United Arab Emirates (UAE). Dubai has a variety of tenants from different walks of life. Some tenants will be citizens of the United Arab Emirates, called Emiratis, or others may be expatriates. On average, expatriates are wealthier than Emiratis because most receive a favorable conversion rate when they change their native currency into dirham (AED), the currency of Dubai.
Since Dubai will likely have the right neighborhoods to invest in, you can narrow down the list of potential neighborhoods to invest in. You do this by looking at rent prices, amenities offered, neighborhood attractions, and villa features. These four elements will allow you to generalize about the type of people, your potential tenants, that will rent villas in these neighborhoods.
If you are a landlord looking to invest in villas for sale in Dubai, read on to discover the tenants of DAMAC Hills 2 (Akoya Oxygen).
Affordable to Most
The first generalization you can make about the villas for sale in DAMAC Hills 2 (Akoya Oxygen) is that these villas will be affordable to most. You can make this prediction by looking at the rent prices and knowing about income levels in Dubai.
According to Salary Explorer and other salary aggregate websites, the lowest average annual salary in Dubai is 57,720 AED. Meanwhile, the villa with the highest annual rent costs 75,000 AED in yearly rent. If each head of household pays the same amount, then each will pay 37,500 AED. The villa with the lowest annual rent costs 38,000 AED, or 19,000 AED per head of household. This range, of 19,000 AED to 37,500 AED, will adjust upwards when the price of utilities, groceries, entertainment, and necessities are added in.
Thus, while those with the lowest income may have a tight squeeze with the more expensive apartments, most residents will be able to afford rent price of the villas in DAMAC Hills 2 (Akoya Oxygen).
They Will Have Very Few Needs
The second prediction you can make is that those living in DAMAC Hills 2 (Akoya Oxygen) will have very few needs. You can tell this by looking at the amenities offered and the villa features. First, a balcony or terrace will provide tenants with natural lighting. Then, a maid’s room will be a good place to keep cleaning supplies or have use to have someone assist with cleaning the villa. Finally, pets are allowed, so the family will be kept entertained.
They Like to Exercise
Finally, the last generalization that can be made is that potential tenants would like to exercise. You can make this generalization by looking at the neighborhood attractions. There are three ways to exercise: at the gym, at the health club, or in the swimming pool.
Conclusion
The key to success as a landlord is to have the right tenants. To find the right tenants, invest in the right neighborhoods. Use information from rent prices, amenities offered, villa features, and neighborhood attractions to generalize about and predict the types of tenants who live in a neighborhood to figure out if you should invest there.
If you are a landlord looking to invest in villas for sale in Dubai and like to buy villas that are affordable to most and have tenants who have very few needs and who like to exercise, now is the perfect time to invest in villas for sale in DAMAC Hills 2 (Akoya Oxygen)!
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