Renting out a property is a terrific method to make passive income, and this is particularly true in Dubai, where high house costs and a big number of expatriates who remain in the city short-term for business mean that most people choose to rent rather than purchase.
You may earn a lot of money from your rental property, but only if you put in the time and effort to maintain and improve it. Dubai landlords have a lot of options for increasing rental revenue, and in this post, we'll go over some of the best residential fit out advice and interior design suggestions for doing just that.
Furnish the space
Providing a fully furnished, move-in ready room to renters is a simple method to attract more tenants and increase your monthly revenue from rent. Furnished rentals may not be for everyone, but many renters would gladly pay a premium for the convenience of being able to move in right away.
Tenants who are just staying for a short time, who are from out of town, or who have just left home might appreciate a furnished rental that meets their basic needs without breaking the bank.
Furnished rental properties generate almost 20% more revenue for their owners than their unfurnished counterparts, according to studies conducted on the issue. Landlords in Dubai should pay close attention, since the majority of the city's residents are foreigners who often arrive with just the clothes they're wearing. Many renters would gladly pay more for a fully furnished apartment from which they could immediately begin their new lives in Dubai.
In the long run, you will be glad you spent the money to update the furnishings and decor of your rental home. Remember that rental property is an investment, and that "you need to spend money to earn money."
Go green wherever possible
Sustainable and energy-efficient dwellings are more appealing to today's renters. If you want to attract renters who are prepared to pay a greater premium to live on your property while doing your bit to assist the Planet, then adopting environmentally friendly designs and ideas is a smart place to start. Imagine how much cash you'll have in the bank at the end of each month after cutting your electricity costs!
Utilities may be reduced and a more sustainable home can be created via the installation of energy-efficient appliances and renewable energy-focused items. Investing in solar panels, in particular, is a terrific idea since they produce enough energy to meet the requirements of the renter and still have enough left over to send back into the grid, allowing you to reduce your carbon footprint, increase your rental income, and save money. Most solar panel systems also have a guarantee of twenty years or more, which implies that after five years from the date of installation, you'll have made back your initial investment.
Get an HVAC system.
The United Arab Emirates (UAE) has scorching summers, with average highs of 38 to 42 degrees Celsius. There isn't much of a temperature drop during the cold months, though. As a result, it goes without saying that every single house in Dubai, Abu Dhabi, and the rest of the emirates has to have an HVAC system.
Tenant satisfaction is directly correlated to the quality of the heating, ventilation, and air conditioning (HVAC) system, thus it's important to purchase a reliable system. An HVAC system is a great investment, and the greatest part is that it allows you to charge more for rent.
Create a second bathroom
If you want to boost the rent and enhance the property's worth, you should install a complete bathroom in each bedroom. The ratio of bedrooms to bathrooms is particularly important for families and roommates, since it directly affects the amount of money collected.
Adding a second bathroom won't be a breeze to build, but it will be well worth the effort in the long run.
Entertainment area
Tenants are more likely to choose a rental that has some kind of outside space, even if it's only a little patio or balcony, where they can relax and enjoy the weather.
Soundproof walls
Our last recommendation for a home renovation is to think about installing soundproofing in the walls. If your investment property is an apartment building, this is an especially smart move.
As privacy is essential yet walls in most structures are notoriously permeable, this is a problem. As renters like not to feel like they're intruding on their neighbours, it's important to take measures to reduce noise transfer through the building's partitions.
Looking for a fit out company?
If you've read this blog and realised that your home may need some improvements but don't know where to begin, don't worry; Appello Interiors is one of the most professional fit out companies in Dubai that can help you with any kind of fit outs. .
There are multiple interior companies are operating their vast services but choosing the top leading contractor will give you an exceptional and excellent service.
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