Ways to Make Money from a Real Estate Property

Buying a real estate in UAE, particularly in Dubai, is a huge investment. Thus, you need to make sure that you are able to turn your asset into a money-earning instrument. However, how can you do this? What are the different ways for you to make money from your property?

Read on our below article to learn more.

Long-term residential rentals

Look for tenants who need a place they can call their home for a longer period of time. There are a lot of advantages when you find clients who are in it for the long haul. For one, it gives you a more stable source of income since your property will be constantly be occupied.

Of course, to make this work properly, you would need to do a quick background check on your potential tenants. Make sure that you are only accepting qualified tenants who pay in a timely manner and who will take care of your property.

Short-term vacation rentals

Is your property near a tourist spot? Perhaps, it is right in the center of a beautiful island? Maybe, there are regular events around your area which attracts a lot of people?

If this is the case, consider offering your property as a place for tourists or visitors to stay in.

If you ever decide to use your property for vacation rental, you need to consider the off-season and peak-season of your area. Obviously, during off-season, you need to reduce your rate to attract more customers. During the peak-season, that would be the perfect time to increase rates and boost your earnings.

Short-term rentals

Similar to vacation rentals, renting Dubai properties in a short-term period would typically last for a few days or weeks. When you rent your property for a short period of time, you get to charge a higher price compared to letting it be rented for many months or years.

One consideration that you need to make is the availability of customers. For one, short-term rentals do not guarantee a continuous flow of rentees. While it is possible that you get a lot of customers, there will come a time when your property would be vacant.

That’s where marketing comes in. Of course, this is an additional work for you. Not to mention the need to constantly check your property and clean it every time a new customer leaves and arrives the place. You need to weigh your options to really know which business model meets your preference.

Invest in a house you can flip

You probably would have heard about the term, “house flipping.” It is the process of finding cheap properties, buying and improving it, and then selling the house for a higher price. Of course, this is not only limited to homes, but also for villas, offices, and even apartments in Dubai.

Consider commercial properties

If your property is in a commercial area, then you can rent it out for businesses. Alternatively, if you want to run your own business, then you can use your commercial area and turn it into an income-producing asset.

Do you need help?

Buying a real estate property is a big investment. If you want to ensure that you are making the right decision, then you need an expert guide. Thankfully, Rocky Real Estate is here for you.

Rocky Real Estate is among the best real estate partners in Dubai. With more than four decades of experience, we help clients in making the right investments. We also provide property management, asset marketing, and other excellent services. Give them a call today!