Dubai has an eclectic mix of people looking for accommodation: expats seeking long-term rentals, professionals taking a gander at short-term rentals, tourists staying at hotel apartments…there’s something for everyone in this busy metropolis. Even in terms of how to pay rent, there are several options, single rent cheques, multiple rent cheques and so on. When the choice is this wide, there is bound to be some amount of confusion as to what is the best option for you. Let’s examine the pros and cons of long and short-term rentals in Dubai and analyse the benefits of paying rent in multiple cheques in Dubai.
Long-Term vs Short-term rentals in Dubai
Some of us like to plan ahead and make informed decisions about our long-term choices while some of us live on impulse buys and spontaneous decisions. It’s therefore only natural that Dubai has identified the need to cater to these varied interests when it comes to renting properties in Dubai.
Short-term rentals in Dubai
Short-term rentals in Dubai are properties leased for short amounts of time, offering, weekly and monthly options for rent payments. These are largely for tourists and business professional visiting the city, looking for a homely place to stay in after their busy days of sightseeing or working. Fully-furnished apartments, holiday homes and hotel apartments in Dubai are usually available for rent on a short-term basis.
They usually include utility bills, cleaning charges and parking spaces. This makes it ideal for the aforementioned population, who are not in the city long enough to make a long-term commitment but want the comfort of a home. These properties are however far more expensive than long-term rentals, and rents are subject to frequent changes. Renting short-term in Dubai are also favoured by those looking for an option to pay rent monthly, as the initial costs for long-term rentals are significantly higher, especially if landlords demand a single rent cheque.
Benefits of Short-term rentals in Dubai
- Affords residents the flexibility of moving from one place to the other
- No overhead costs
- Ready to move in, furniture and fittings already taken care of
Things to Consider with Short-term rentals in Dubai
- Lack of Stability
- Higher costs
- Limited options
Long-term Rentals in Dubai
Long-term rentals in Dubai are predictably properties rented for a longer period of time, usually on a yearly basis. They come with an annual tenancy contract recognised by RERA, offering a stable home for you to live in with rents locked in for the year. These are usually unfurnished and you have to pay for all utilities separately. With long-term rentals in Dubai, there are some overhead costs to also consider, including security deposits, agency fees and furnishing costs.
Rents are paid as post-dated cheques on a quarterly, bi-annual or yearly basis, and if you default on your contract you have to pay all outstanding amounts, limiting your flexibility to move homes frequently.
Benefits of Long-term rentals in Dubai
- Rents locked in for a year
- Stability in term of your living arrangements and financial output for the year
- A personal space for you to customise
Things to Consider with Long-term Rentals in Dubai
- No Flexibility
- Overhead costs are high
- Most long-term rentals in Dubai are not ready to move in and will need investment from you for furniture