Effective Ways to Improve Rental Value of Your Flat
In today’s time and age, having a living space to your name in Dubai is an achievement in itself. Not only it saves one from the ordeal of bearing monthly rental costs but it also ensures enhanced peace of mind. Furthermore, one can also rent it out in times of need and have a passive stream of income.
If you are planning to put up your flat for rent in Dubai, following the basic procedure is not going to prove sufficient for you. With the increasing number of residential projects in the city, the tenants are spoiled for choice. Hence, you need to give them a major reason why they should opt for your flat for rent in Dubai among all other choices. Not only this, but you also need to take certain actions to improve the rental value of your home. For this, you can follow the most effective ways discussed below. Continue reading!
Give it a Modern yet Simple Look
A tried and tested way that always yields profitable results is to give your flat a new look. It is an important step one must undertake before listing it for rent. Now the question here arises, what sort of look should you opt for? Since you are not going to live in the flat, you need to look at it from an outsider’s perspective. The right way to look at this thing is to create a perfect balance between a contemporary and simple look. A look too plain can turn away potential tenants for the dull appearance. On the other hand, if it’s too modern, it can paint a gaudy picture for some. Therefore, the best practice is to find the right balance and give your flat a modern yet simple look.
Get New Fixtures for Kitchens & Bathrooms
The kitchen and bathrooms are among the top areas that tenants pay close attention to when they inspect a flat. Therefore, it makes sense why it is recommended to get new fixtures for both these parts of your flat to improve its rental value. Needless to say, if there are old and worn out fixtures, it will reduce the chances of your flat being preferred by the tenant. Furthermore, it will also bring down the rental value. Paying attention to this aspect and working on it will definitely help your flat to grab the attention among a plethora of options available for every property finder Dubai is home to.
Have a Storage Place
Another feature that tenants look for in a flat is the availability of storage space. Therefore, make sure your flat features an enhanced storage space where the occupants can place all their extra stuff. Having a place that allows them to store their stuff used scarcely can be vital when negotiating the rent. There are many options available for doing this. If you don’t want to go for extensive procedures, you can add hooks to certain areas in the flat such as bathrooms or entryways. Similarly, a closet organizing system can be installed for this purpose as well.
Replace Your Old Windows & Doors with Newer Ones
Carefully evaluate the doors and windows of your home. They have a great impact on the overall appeal of your flat. Hence, consider getting them replaced with newer ones if the existing windows and doors have become old and stale.
For windows, look for contemporary options. As they are responsible to lighten and brighten up the flat and keep the cold and heat at bay, special attention must be paid to them. Also, cover them with modern and sleek curtains or blinds.
When it comes to doors, prefer simple yet appealing ones. The entrance door, in particular, must be purchased after thorough deliberation as it holds the responsibility of creating the most valuable first impression.
Give your potential tenants more reasons to rent your flat at higher rates by adding some popular amenities to it. For example, you can add a dishwasher to the kitchen or get an air conditioner installed. It will cost you initially. However, consider it as a one-time investment that will give you benefits for the time to come.
All in all, the possibilities are limitless if you want to improve the rental value of your flat. However, keep into consideration your budget and follow some of the effective ways to earn increased rent.