Advantages of a certified Dubai property rental
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Home Page > Finance > Real Estate > Advantages of a certified Dubai property rental
Advantages of a certified Dubai property rental
Posted: Feb 21, 2012 |Comments: 0
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Dubai is known as the land of plenty and the opportunities are endless for someone who wishes to change their fortunes. In-fact, such is the strong pull of this place, also known as the Las Vegas of the Middle East, that people have been known to flock to Dubai from some of the farthest corners of this planet. Recently though, some flat owners have been stretching this concept, far beyond its original brief.
Reports have been emerging of a small section of flat owners, especially those belonging to the luxury-apartment category; have been renting out their apartments for extremely short durations, ranging from a few days to a few weeks. Investigations have revealed that all this is being done with the intention of making a quick buck on the side. These short term lease adverts have been found on various media platforms. Some have even gone on to severely undercut the prevailing rates, to the extent that, one particular owner at the Burj Khalifa, recently offered a twin-bedroom flat for a weekly rental of just 16,000 Dirham’s. It was also noted that the flat came fully furnished, with the tenants only having to pay up the rent and move in to their new apartment for the week. Others reports have emerged of some owners renting out their properties in the signature Armani wing that is part of the same tower, for as low as 1,500 Dirham’s per night.
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The authorities however have pointed out to the fact that due attention be paid towards the compliance of the laws that govern such dealings. They have noted that such dealings are prevalent amongst speculative investors who had purchased their apartments at highly inflated rates during the construction boom. The local laws governing such transactions mandate that the landlord be licensed to rent out their apartment. This practice is said to have a two fold advantage.
Considering that marquee properties like the Burj Khalifa are ever so exposed to security risks from unsavory elements. A short term rental agreement without carrying out the necessary due diligence, could end up jeopardizing the safety of everyone, including the owner of the particular apartment. On the other hand, the tenants too are left open to risk of exploitation on the part of the owner. Since the lease is not registered, it has no legal standing, should one choose to dispute it at a later stage.
It is concerns such as these that have led to the popularity of a certified Dubai property rental. These come with a gilt-edged guarantee for both, the tenant as well as the land lord. In-fact, renowned rental specialists like Move in Dubai prefer to deal exclusively in Dubai Rentals that have been duly certified. This ensures that it’s a win-win situation for everyone.
To view a wide selection of certified apartment rentals in Dubai, head over to http://www.moveindubai.com
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About the Author:
Move In Dubai is a fresh dynamic company which has established itself in UAE since last 15 years. The company will help you find a perfect home when you are looking for Apartment and Rentals Properties in Dubai. The company does not sell property. But they lead you in a right direction if you are looking for dubai property rentals or apartments for rent in dubai.
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