You were looking to buy apartments in Jumeirah, Dubai for a long time, you found one, everything goes smoothly and then one of your friends tells you some myths and you end up getting confused about your decision, well, now you don’t have to. Here are the top myths we have debunked for you regarding renting an apartment:
You Are Wasting Your Money
Though it is true that renting an apartment does not lead you to build equity, it does not mean you must directly jump into buying an apartment before you are ready. There are a few reasons for that, first, just because you have enough finances to make down payment, doesn’t mean you’ll be able to pay all installments within a safe margin while managing other expenses. Second, not all your monthly installment goes towards building equity, at-least for the first few years, a very small chunk of your monthly installment will be paying the principal off.
Renting Is A Non-Negotiable Process
A lot of people fall for this one. Renting is considered to be a rigid process with strict prices and terms that tenants are supposed to follow. Whether you are renting JLT apartments for rent as a tenant or giving it out to someone else on rent, the terms and tenant-owner relationship along those terms is a two-way road with a lot of room to discuss. So, don’t fall into the trap by believing this myth and talk to your owner or tenant freely.
Everything Written In Lease Is Legal
The owner can write anything in the lease but if the clause is not legal, it is not enforceable. In some countries, for example, asking for a whole year’s rent in advance is illegal, so asking for it in the lease won’t make it legal. Instead, you have all the right to stand up against it and revise the clause.
The Landlord Can Enter Your Space Anytime
The landlord is an owner of the property and has the right to visit or enter your property. With that being said, they certainly have no right to come up anytime they want. Landlords wishing to enter the premises of the rented property for any non-emergency reasons must give a notice in advance to the tenant, specifying the date and time of their arrival so their privacy doesn’t get disturbed. The official laws on landlord visits vary from region to region, so make sure you research the ones being followed in your area.