If you are thinking of investing a property in Dubai, you must take the right path. There are two options available: you can purchase either leasehold property or a freehold property. They are both designed to facilitate people coming in Dubai within different circumstances. Let’s discuss which option is better and safer for you.
Leasehold Property Management:
Leasehold property allows a buyer to live on that specific property without any right of alterations or amendments. The buyer has to pay a monthly rent along with the maintenance. The benefit a buyer gets is the fixed length of time; this enables a buyer to stick to a place for the defined period. A seller can never ask you to leave until or unless the lease period gets over.
Buying a leasehold property is a complicated process; therefore, it is best to hire a reputed realtor or a property management firm to streamline the entire process. Some of the best possible services you get as a bunch are:
- Leasing Consultancy
- Market Trends & Analysis
- Absent Owner Unit Management
- Key Management Holding Service
- Lease Monitoring
- Ownership Services
- Maintaining Vacant Properties
- Preparing Tenancy Agreements
- Target Market Study
- Tenant Outsourcing and Screening
- Transfer of Utility Title
- Property Operations Budget Preparation
- Property Operations Management
- Service Provider Management
- Community Management
- Dispute Resolution
- Bounced Cheque Management
- Enforcing Community Restrictions
Dubai Property management firms offer end-to-end services and apply their deep-seated knowledge about the industry to keep you on safe ends. Leasehold property is comparatively cheaper than freehold properties in Dubai, therefore if you have limited finances, you can go for a property lease to enjoy a permanent fix for a longer period.
Freehold Property Management:
A freehold property offers a complete ownership of the property you are buying. You can make alterations and amendments according to your needs and wants. All that is needed is maintaining it to the standards of the society or community you are living in. Freehold property is expensive as compared to the leasehold property.
- Association management
- Freehold Consultancy
- Community Management
- Managing AGMs (Annual General Meetings)
- Financial Management
- Managing Service Providers
- Performance Reporting
- Service Charge Modeling and Collection
- Customer Queries and Complaint Management
- Freehold Property Maintenance Management
Whether it be an apartment or a villa, legalities remain same for both types. If you are interested to buy apartment in Dubai, it is better in terms of handling and maintenance.