Without a doubt, the real state has produced numbers of wealthiest people all across the globe. On the off chance, if you are even thinking about investing in rental property in Abu Dhabi, then there are tens of hundreds of things that you must take into consideration. So, in this is blog, we will discuss some factors that surely be going to help you in the journey of buying rental property then putting the property for rent in Abu Dhabi.
So, let’s start digging into the world of rental property.
- Income Potential: The first and the foremost thing that you must pay heed to before investing your hard-earned money is how much income the rental property can generate. It is highly possible that you might be familiar with the fact that property that fails to provide a handsome or decent amount of money will not only pop up as a burden but also it will cease you from investing in another property as well. Luckily, there is a widely accepted guideline well-known as the 1% rule which says that the monthly income that you received from a tenant who has taken your property for rent in Abu Dhabi or other nation, must be greater than 1% or equal to one percent of the property’s total value.
- Location: There isn’t any doubt that location plays a vital role in both cracking and breaking the deal. So, it is important to choose the location before investing in a rental property that you want to put on rent in Abu Dhabi. Not to be forgotten, the property’s location also includes more than a geographic area. Some important aspects are-
- Proximity to quality schools, public transportation, etc.
- Proximity to places of commerce or recreation (malls, parks, nightlife).
- How attractive the neighborhood is for tenants (aesthetic, safety) Always keep in mind that the lower-quality home can still be expensive if it nearby state university. Hence, choose the location wisely.
- Property management: At the time of buying rental properties, people often focus only on the monthly income from tenants, extra costs, etc. It’s uncommon for owners to overlook how the property will be managed and who will be managing as well. In case if you are having less time and energy to invest then you will need to hire a property manager.
Vacation area: Areas with less humidity, warmer climate, and regions where people love to vacation are the best places to look for rental property. If you are planning to purchase property in a location where people love to travel then make sure to consider marketing your property as a vacation home.
So, these were the things that you must consider at the time of buying rental property. And in case if you need any assistance, feel free to get in touch with us.