It has now become amply
clear on any search engine that many who buy property in Dubai do so
with the purpose of letting it out on a short-term basis.
Apart from the amateur
listings on popular portals like Vacation Rentals, Short Stays and
Vacations For Rent by Owner, there are several locally spawned agencies
dedicated to the task of helping these owners find short-term tenants.
Three factors are
precipitating the unexpected growth in Dubai’s vacation rental market.
Some owners are doing so as a source of much-needed income.
An intrepid group has
not only introduced the concept of ‘house swapping’ into the country,
but are doing much more to position it as a trend.
A third, smaller group
is renting out their homes merely as a safety measure: the perceived
rationale is that if their homes are occupied while they are away on
vacation — even if it is by strangers — there is a lesser possibility
of it being broken into.
The web — a database of potential tenants
The internet has made
it remarkably easy for these groups to access a global database of
potential tenants, exchange information and conduct transactions.
To quote one
Dubai-based website: “If you have luxury Dubai villas that you would
like to let, we can attract a rental offer quickly and efficiently.
The process is easy and simple to set up, and allows you to generate revenue in complete security”.
According to the users
of these websites, apparently all you need to do is ‘take some decent
pictures of your home, list down all the comforts you can provide, and
put up a fair price’.
Mather Mathews, a long-time resident, has
rented his home to strangers thrice in the last two years. “There are
several websites and agencies where you can list your house for rent
during a vacation. If the other party is interested, you can even swap
your house with the renter — temporarily, of course. It is a great way
to have a holiday in comfort in a city of your choice.
“It is a nice, if
unconventional, way to make some extra money. And it is comforting to
know that your house will be looked after even when you are not living
in it.”
Steep prices
Apartments in Jumeirah
Beach Residence and residences on the Palm top the list of short-term
vacation rentals in Dubai. Prices reflect the services on offer.
A well-appointed
one-bedroom apartment at JBR is currently listed for a rather steep
price of Dh3,339 to Dh6,750 a week, depending on the number of
occupants — a claim backed by selling points such as ‘complete sea
view, covered car park, free ADSL connection, nanny and maid service
available on call’.
An ingenious homeowner
has listed what is now deemed usual in gated freehold communities —
private pool, garden and BBQ, 24/7 security, quiet and secure
environment — but it is in addition to the unusual. He is offering
tenants a ‘welcome pack’ consisting of complimentary coffee, tea, milk,
bread, butter, marmalade, fresh fruit, bottled water, shampoo, and
soap.
This summer has also
seen several homeowners adopt short-term letting for a novel reason:
they are paranoid that their homes will be broken into when they are
away.
Sheela and Tim who
live at Arabian Ranches say they put their home up for rent for seven
weeks, and they found a renter for five.
“It is worrying to
leave a large home untended when you are away for a long time,” Sheela
says. “One of our concerns was the upkeep of our garden until we found
a part-time gardener, but after we heard some horror stories of
burglaries in the city, even that became a cause for concern. More
importantly, we collect antiques, and it was alarming to consider the
possibility that someone could easily break in and rob us of treasures
that we have nurtured over the last 20 years.”
Don’t be foolhardy about security
The couple found a
tenant through an agency, who also helped them with financial
transactions and provided a list of services that their tenant could
use when in Dubai.
“We were lucky that it
happened so quickly and smoothly, but we still urge others to consider
all aspects of safety/security when they enter into such agreements,”
she says.
“It would be foolish to put a thief in your home to avoid thieves, or to lose money in the process of trying to make some.”
Given the spate of
‘summer burglaries’ in Dubai, these homeowners may be less foolhardy
and more forewarned. No need for them to panic because the Dubai Police
offer free protection services. Their motto remains simple: ‘Have
tenant, Have no worry’.
