Landlords can have nightmarish scenarios on their hands on occasion when dealing with difficult
tenants. Some tenants will withhold payment until repairs are done on a property. This is a temporary
problem and can be fixed. Unfortunately, there are tenants who cause more permanent problems.
These are tenants who stop paying the rent, either because of economic conditions or simply refuse to
pay it. While one or two payments may not be a significant issue, by the time a third payment is missed, it will
cause problems with a landlord’s bottom line of their real estate portfolio. At this point, the landlord
might need to initiate costly eviction proceedings. One place where this is unlikely to happen due to economic reasons is in the city of Dubai in the United Arab Emirates (UAE). Where you can discover apartment for sale in Business Bay amidst tenant payment challenges. Dubai is home to wealthy tenants and expatriates. Expatriates are especially
wealthy because their native currency usually performs well against the dirham (AED), the currency of
the UAE.
There also some middle-class tenants that a landlord can lease a property to in Dubai. One of the best
places to invest in the property is the business district, since most people who live in business districts
are also employed there.
If renting to tenants in the business districts of Dubai appeals to you, read on to discover the apartments
of Business Bay in Dubai.
The commercial hub of Dubai, Business Bay is home to the Central Business District of Dubai. This
Manhattan-sized area is home to many local and international corporations. Business Bay is also home
to mini-golf courses, skyscrapers, five-star hotels, a helipad, and Dubai Canal, Business Bay is located off
the main roads of Sheikh Zayed road and Al Khail Road, and is within driving distance of Dubai Mall.
The standard apartments for sale are either studio apartments or come with 1-2 bedrooms or 1-4
bathrooms, many of which are en suite. These apartments are fully upgraded and fully equipped with
appliances and are also noted for their carpets and upgraded interiors. Finally, apartments for sale come
in either the fully furnished or unfurnished varieties.
The typical, non-studio apartment for sale in Business Bay has a barbecue area, a children’s play area, a
gazebo and outdoor entertainment area, a guest bathroom, and a laundry room. The kitchen ill be
either open and fully fitted and equipped with white goods or be a closed kitchen with white goods. The
apartment will have at least one balcony. It will also have a central air and heating system, an intercom
system, and a jacuzzi. Finally, most apartments will come with built-in wardrobes.
Tenants who rent in Business Bay will receive 24/7 maintenance, security, concierge, and reception
services. The security services will also include a CCTV system. Tenants will also have access to
babysitting, laundry, and valet services. Tenants will also gain access to a business center. Finally,
residential towers in Business Bay also come replete with an access control system, a backup power
system, a building management system, a fire alarm system, and a grand lounge.
The neighborhood of Business Bay is home to a bank with an ATM, an aquatic theater, and a
supermarket. Cafes, restaurants, retail stores, and shopping malls are also local. There are many
methods of exercise, including cycling tracks, a health club, a fitness center, a gym, a shared swimming
pool, and a yoga studio. Walking trails also line the neighborhood. There are also basketball courts and
sports academies in the neighborhood as well.
Residents can relax in the communal gardens, sauna, spas, and steam room. They can send their
children to the local nursery. Local medical clinics will take care of any emergency. A mosque and prayer
room are also in the neighborhood. Finally, the area is served by public transportation.
For landlords, Business Bay is a freehold community, which means that foreigners can keep their
properties even after they leave the UAE. While prices are negotiable, the most popular payment plan
offered by realtors in in the area is a 2-year payment plan, which involves a 20% down payment and a
80% due over two years after the property is handed over. Finally, realtors guarantee 8% rental income
for the first five years.
The price of an apartment for sale in Business Bay is between AED 505,000 and AED 2,500,000. Tenants,
who are from the middle class and beyond and probably have roommates, can expect to pay between
AED 32,000 and AED 240,000 in rent. With a low property price and a high rent, a landlord can make a
profit on rent payments alone in three years. With a high property price and a low rent, it may make
sense to pass the property down through generations or improve the property and sell it for a profit.
Conclusion
Business Bay in Dubai has something for everyone. Residents will likely be located near their place of
employment and have many ways to entertain themselves on the weekend. Landlords, on the other
hand, can take advantage of generous deals and guarantees from realtors to maximize their profits.
If being a landlord of tenants who have their job nearby is ideal for you, you should get an apartment for
sale in Business Bay.