As a landlord, your number one goal is to profit off your properties. You do so by collecting rent from tenants. However, if you have the wrong tenants, then you might lose money on your properties. Tenants can make this happen in many ways, from refusing to pay rent until repairs on your properties are completed, to slandering your reputation through word-of-mouth. They could also become financially insecure. In many of these unfortunate circumstances, you may have to initiate costly eviction procedures, which would lead to you losing even more money on your properties.

The key to profiting off your properties, therefore, is to find the type of tenants that you get along with the best. These tenants will be understanding when you are late on property repairs, will not ruin your reputation, and will be financially secure.

The key to finding the right tenants is to invest in the right properties. One of the property types you might considering investing in is the villa. There are many villas in Dubai, which is in the United Arab Emirates (UAE). These villas are also in a diverse set of neighborhoods, including neighborhoods themed around cars or sports, or neighborhoods that only the wealthy can afford.

You can further narrow down the neighborhoods that you should invest in by gathering information from rental prices, amenities offered, neighborhood attractions, and villa features. Using this information, you can make general predictions about the income level, personality traits, and family and social life that your potential tenants may have.

If you are a landlord who is interested in investing in villas for sale in Dubai, read on to discover the tenants of Jumeirah Park.

From the Middle Class and Beyond

The first prediction that you can make about your potential tenants in Jumeirah Park is that they are from the middle class and beyond. You can make this prediction by looking at the rental prices in the area and knowing a little about the currency of Dubai. First, Dubai uses the dirham (AED). Emiratis, citizens of the UAE, use the dirham as their native currency, while expatriates receive a favorable conversion rate when they change their native currency into dirham. This means that expatriates are wealthier on average compared to Emiratis.

Next, according to salary aggregate websites such as Salary Explorer, the average annual salary in Dubai is 258,000 AED. With this established, we can then examine rental prices. The cheapest villa in Jumeirah Park is a 3-bedroom apartment with an annual rent of 160,000 AED. Since villas often have two heads of household, if they each contribute equally, each head of household will pay 80,000 AED. Meanwhile, the most expensive villa in Jumeirah Park is a 5-bedroom villa with an annual rent of 320,000 AED. If each head of household paid equally, then each would pay 160,000 AED. This range, from 80,000 AED to 160,000 AED, will adjust upwards when the price of utilities, entertainment, groceries, and necessities are added in.

Therefore, you can safely say, with each head of household paying equally, that the middle class can afford these apartments, but might have a tighter squeeze as the rent goes higher.

They Like to Entertain Guests

The first prediction you can make about your potential tenants in Jumeirah Park is that they would like to entertain their guests. You can tell this by looking at the amenities offered and the villa features. First, there is a balcony where guests can relax outdoor, as well as a gazebo and outdoor entertaining area, a rooftop terrace, and a private garden. Residents can use the barbecue area or prepare food for guests in the big, modern-style kitchen with cabinets as well as a breakfast bar. Guests could choose to eat outdoors at the outside bar. Built-in wardrobes will allow tenants to dress to impress their guests. CCTV and other security systems will protect tenants if any of their guests become unruly.  If the weather is bad, food can be served inside, where there is also a guest bathroom so that guests do not have to go to the en suite bathrooms to relieve themselves.  Finally, guests and tenants alike can enjoy themselves at the private swimming pool.

They Have Children

The final prediction you can make is that your potential tenants in Jumeirah Park will have children. You can tell this from the neighborhood attractions in the area. First, beauty salons are great places for young adults to make themselves look and feel good. Cafes and coffee shops are places where older children visit. A hospital is a good place to give birth to a child or take a child to when they have an accident.  A public park is a good place for young children to entertain themselves, while older children without a license may want to take public transportation to and from the neighborhood. Parents can buy food for their family at the local supermarkets. Children will attend the local schools. Finally, fire stations and police station provide a secure environment to raise children. 

Conclusion

The key to profiting off your properties is to find the right tenants. To find the right tenants, invest in the right neighborhoods. Using information from rent prices, amenities offered, and villa features, you can generalize about the tenants who will rent villas in certain neighborhoods and determine if it is best to invest in villas for sale in these neighborhoods.

If you are a landlord who is interested in investing in villas for sale in Dubai and would like tenants who are from the middle class and beyond, who like to entertain guests, and who have children, now is the perfect time to invest In Jumeirah Park!

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