Investment Value Enhance
Did you know by legally subletting your apartment using Dubai short term rental process, you can increase your rental income by 158%?
For all those people who have been thinking about subletting their property in Dubai as holiday homes, there is good news. According to new regulations passed by Dubai government, the process of subletting a property on short term basis or as a holiday home has become very easy.
There are major benefits involved in renting your property on short term basis. For example; if you are able to do it the right way, you can make more rental income from your property as compared to renting it out on annual basis. A simple study for one bedroom apartment in Discovery Garden concluded some amazing results.
Dubai Short Term rental Airbnb forecast
With an occupancy rate of 70% and keeping the per night price at very conservative scale, a landlord can make more AED 5,600 extra on the property as compared to normal annual rent.
Increase the features of the property along with price and occupancy rate and you could make 158% more than what you normally make from your property in rental income.
Not only homeowner but the tenant can also sublease the property. However, tenant will need to have an NOC from the landlord to do so. On the other side, the landlord who wishes to sublet his apartment on short term basis needs to register with Dubai tourism authority.
Previously, a landlord needed to register his property with an authorized tourism rental company from Dubai tourism department but this condition has been removed now.
Any landlord can register his property with the government department and upon getting the approval, sublet it for short term rentals.