What Tenants Will Live in Villas for Sale in Arabian Ranches 2?
If you are a landlord, then you know that having tenants that you do not get along with is bad for your profit margins. Tenants can lose a job and be unable to pay the rent or refuse to pay the rent, which could result in having to initiate costly eviction procedures. Other tenants might withhold rent payment until property repairs are completed, which might cause you to lose even more money.
To avoid these nightmares, it is best to invest in a city with a diverse group of tenants so that, if a group of tenants is uncooperative, you will have many more cooperative tenants to outweigh them. One such city in the world that has a diverse group of tenants is Dubai. Dubai, in the United Arab Emirates (UAE), has residents who are both citizens and expatriates. With some planning, and some luck, you can find the right group of tenants for you to have in the right neighborhoods in Dubai.
Dubai has several neighborhoods, some which the middle class will thrive in, while others are meant for the upper class to live in. Some neighborhoods are themed around sports or cars. By interpreting the clues left by rent prices, amenities offered, property features, and neighborhood attractions, you can narrow down the field of neighborhoods where you should invest.
If you are a landlord looking to invest in villas for sale Dubai, read on to discover the tenants of Arabian Ranches 2.
From the Middle Class and Beyond
The first prediction you can make is that your tenants will be from the middle class. The UAE, and hence Dubai, uses the dirham (AED). Its lowest average annual salary is 57,700 AED, while the average median salary is 258,000 AED. Additionally, expatriates in Dubai are wealthier than Emirati citizens on average because of the favorable exchange rate expatriates receive when converting their native currency into dirhams.
Armed with this knowledge, you can look at the rent prices of the area. The lowest annual rent price for a villa in Arabian Ranches 2 is 135,000 AED for a 3-bedroom apartment. If two heads of household are paying equally, then each will pay 67,500, which is above the lowest average annual salary in Dubai. Meanwhile, the most expensive villa costs 340,000 AED. If two heads of households are paying equally, then each will pay 170,000 AED. This range of 67,500 AED to 170,000 AED will adjust upwards when the price of utilities, necessities, groceries, and entertainment is added. Therefore, it is highly likely that tenants of villas in Arabian Ranches 2 will be from the middle class or higher.
Extroverts
Second, you can predict that your potential tenants might be extroverts. First, built-in wardrobes and walk-in closets are perfect for tenants to keep outfits in for social outings. Some villas will have reception rooms and an extra living room. There is also usually a guest bedroom with a toilet. A driver’s room may indicate that they will go out often. Finally, residents can also cook food in the barbecue area for their guests outside and socialize while cooking and eating.
They Like Playing Sports
Finally, you can predict that your potential tenants would enjoy playing sports. First, there is a community pool. Then, there are basketball courts and tennis courts. Next, there is the Dubai Polo and Equestrian Club. Finally, the Arabian Ranches Golf Course and the Arabian Ranches Golf Club are also in the neighborhood.
Conclusion
The key to your success as a landlord is to find the tenants you can best get along with. To do this, you must find the right neighborhoods to invest in. To find the right neighborhoods, you must read clues left by rent prices, amenities offered, villa features, and neighborhood attractions to figure out what tenants will live in the neighborhoods.
If you are landlord looking to invest in villas for sale in Dubai and would like tenants who are from the middle class, who are extroverts, and who like playing sports, now is the perfect time to invest in villas for sale In Arabian Ranches 2!
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