For the past few years, the UAE has consistently seen an influx of skilled professionals. Consequently, the property rental market is expanding quite rapidly, maintaining a good balance between supply and demand.
The rental market witnesses several good deals, with plenty of options ranging from affordable to luxury. However, a little homework before diving into haphazard deals can get you big savings.
- Off-Season Hunting
- Negotiate For Better Terms
- Know Your Rights
- Learn DIY Home Maintenance
- Room Sharing
- Explore Areas with Low Rentals
Here are some insightful tips for tenants to save money in Dubai.
How can you save money in Dubai as a tenant?
Budgeting is a daunting task for tenants. Considering the cost of living in the UAE, one must keep their rent in mind. Plus, you should be aware of your rights to avoid maintenance costs.
We’ve got you some helpful tips to save money on rent.
1. Off-Season Hunting
Dubai real estate witnessed a spike in rental property demands from November to March. Also, the city hosts plenty of events that attract tourists from all over the world.
The influx of tourists incentivizes apartment owners to consider short-term rentals. This causes rent increase. That said, those seeking villas or apartments for rent in Dubai can find it challenging to find a property within their budget. Therefore, you should try searching for a rental property during the off-season to avoid higher rent.
Moreover, tenants can learn to use the RERA rent calculator to find the average rent in various areas. It will help you determine the rent and get a fair deal.
2. Negotiate For Better Terms
Good negotiations are dependent on excellent research. Either using the RERA rent calculator or knowing average market rates will help with better negotiations.
Before agreeing to rent in a certain area, make sure your market research is complete. It is one of the essential tips for renting in Dubai like a pro that renters must search on Property Finder. You can look for previously rented and sold properties similar to the properties you’re looking for. This will help you negotiate the rent accordingly.
Also, look for units with amenities like free Wi-Fi, dedicated parking space, and laundry. This can help tenants save money while paying rent every month. Additionally, you can even ask the homeowner to take care of the routine home maintenance like waterproofing and painting.
3. Know Your Rights
One of the most important ways to save money is to learn your rights before signing a tenancy contract in Dubai. The Real Estate Regulatory Agency (RERA) is responsible for regulating the rights of tenants and landlords.
Additionally, there are specific directives on rent increases, eviction, and minor and major maintenance obligations. You can follow the tenancy rules in Dubai and keep in mind the following points:
- Be sure to reclaim your security deposit at the end of the contract.
- Discuss the maintenance responsibilities beforehand.
- Ensure that the property is in ‘livable condition’ to avoid any expense from your end.
- Use the RERA Rental Increase Calculator to ensure the rent increase is by the law.
- Dubai residents must have an Ejari contract as per the law of protection for both parties.
4. Learn DIY Home Maintenance
Although the major renovation expenses will fall under the property owner’s responsibility, minor routine maintenance can burden the tenants. It’s advisable to learn some DIY skills related to making small repairs.
Instead of calling a handyman for every little thing, tackle small repairs yourself, like fixing leaky faucets, replacing light bulbs, or tightening loose cabinet knobs.
5. Room Sharing
Finding a roommate can be a fantastic way to significantly reduce your housing expenses. Young professionals can secure housing in a prime location without the hefty price tag.
However, this method of saving money comes with certain rules, including cohabitation laws in the UAE.
6. Explore Areas with Low Rentals
If you don’t mind the commute, consider moving to the areas situated on the outskirts of the city. For instance, Al Furjan, Bur Dubai, Al Nahda, and Deira are prime examples of budget-friendly properties in Dubai. You can also look for the cheapest 1-bedroom apartments in Dubai and save money as a tenant.
FAQs
You can save a considerable amount of money by following some simple tips.
- Look for a house in the off-season
- Negotiate with your landlord
- Opt for areas with low rentals
- Move to the outskirts
- Cook your meals at home
- Save electricity to reduce the billing cost
- Do the repair and maintenance yourself
Dubai can be expensive for some, but there are ways tenants can save money.
- Limit the luxuries
- Keep a check on your expenses
- Use public transport
- Avoid lavish dine-in and cook your meals at home
- Look for an affordable community
- Save electricity to cut down on your electricity bills
In conclusion, the question ‘How can tenants save money in the UAE?’ has many answers. You can start by understanding the rental market seasonality and your rights as a tenant to negotiate better deals.
Learning some DIY skills and exploring alternative locations can further reduce your housing expenses.
