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Estate Agent/Management company in Dubai

Estate Agent/Management company in Dubai

Old Jul 26th 2008, 4:58 pm
  #1  
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Default Estate Agent/Management company in Dubai

Hi,
We are to take possession of the keys of our new studio in discovery gardens and are looking for companies interested in providing their services to pick-up keys, snag, and to rent it out afterwards.

Also looking for advice on whether to rent it out furnished or not. Which one would be more beneficial for us, owners? Are there any legal issues associated in renting an unfurnished property?

Thanks
B
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Old Aug 3rd 2008, 12:21 pm
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Default Re: Estate Agent/Management company in Dubai

Originally Posted by Bajen View Post
Hi,
We are to take possession of the keys of our new studio in discovery gardens and are looking for companies interested in providing their services to pick-up keys, snag, and to rent it out afterwards.

Also looking for advice on whether to rent it out furnished or not. Which one would be more beneficial for us, owners? Are there any legal issues associated in renting an unfurnished property?

Thanks
B
I am running a new start up property management company and would be delighted to offer our services to you.

In the current market, a studio will fetch in the region of AED70-75k PA. I have a few landlords who have expressed concern at the service charges (AED27 p sq ft per annum) but this includes approx AED9 per sq ft for the district cooling which landlords are keen to pass on to the tenants.

Officially to rent out a furnished apartment you need to charge a 10% municipality tax and pay this over.

Please feel free to contact me if you need any more info.
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Old Aug 3rd 2008, 2:22 pm
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Default Re: Estate Agent/Management company in Dubai

Gees 75k for a studio in discovery gardens..

I think its time to resurrect my 'Its Official, Dubai Property Market Has Gone Bonkers' thread...

If it goes on like this I think I will rent my garden out, something like this -

Amazing Natural Grass Oasis available to let in the Heart of Dubai.
Around 1000sft of watered land, very close to Festival City.
Any temporary structure under 8ft allowed (or else my neighbours will see it over my garden wall and report me)
A unique, iconic opportunity in Dubai, only 300k PA.
1 cheque only please, as I know you will realise you have been had when the grass goes brown and I deny you electric and water without paying extra.
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Old Aug 6th 2008, 7:24 pm
  #4  
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Default Re: Estate Agent/Management company in Dubai

Originally Posted by Bajen View Post
Hi,
We are to take possession of the keys of our new studio in discovery gardens and are looking for companies interested in providing their services to pick-up keys, snag, and to rent it out afterwards.

Also looking for advice on whether to rent it out furnished or not. Which one would be more beneficial for us, owners? Are there any legal issues associated in renting an unfurnished property?

Thanks
B
why use a managing agent? to do what? what do they really have to service here unless of course you do not live in Dubai. save your money and just advertise online. you really can not go too far wrong here unlike some european countries. you get one years rent upfront so you don't have to worry about rent payments and to be honest there is not a lot they can truly wreck.
bear in mind that your tenant could end up staying for about 3 years given the current laws and would could just increase 5% or so each year. new property regulations are due out later this year I believe

I don't like the standard contract here; much prefer a good old AST but I have not come across anyone using something similar here. contracts tend to be a one pager! I can send you a soft copy if you like

rent unfurnished. why furnish it for someone to wreck it?
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Old Aug 6th 2008, 9:39 pm
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Default Re: Estate Agent/Management company in Dubai

Thanks for advice, unfortunately we do not live in Dubai and due to work commitments we are unable to see prospective tennants until mid next year, quick fix!
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