Many of us own properties that we would like to turn into a source of monthly or annual income using real estate rental applications. To ensure your home finds customers and attracts potential renters, follow these tips to make the most of your real estate investment. Residential units offered for rent, such as apartments, are divided into empty and furnished apartments.
Tips for renting your home
In order to prepare your home for daily rent, you must prepare the facilities and rooms of your home to comply with the conditions of Saudi authorities, most notably the Ministry of Tourism, which sets important requirements for accepting the placement of an apartment on the daily rental list. The apartment available for daily rent must be ready for living immediately without the tenant needing to move any furniture or belongings into it, just His bag of clothes and personal needs.
Therefore, an apartment must have furniture including bedrooms, a dining area, a living room (salon), and electrical appliances such as: TV, refrigerator, washing machine, dishwasher, water heater, and kitchen appliances, in addition, of course, to kitchen utensils such as plates, cups, etc. There are also household utensils such as mattresses, sheets, and covers.
In general, an apartment must be equipped for immediate residence with all requirements, as if it were a hotel room. The Saudi Ministry of Tourism stipulates that the room be cleaned daily, the covers changed, the bed made, and the cleanliness of the rented house taken care of by one or more private businesses.
Home plumbing
Plumbing, water installations, pipes, sewage and electricity. It must be maintained regularly to avoid distribution problems and ensure its readiness for use at home, especially if the property is unoccupied for a long time. Make sure there is warm water, especially in winter periods.
Also make sure that the bathroom is clean before any customer visits and spray some perfume in it.
Electrical appliances
Basic electrical appliances, such as the air conditioner and kitchen hood, must be in excellent working condition before renting the furnished unit, as they play a decisive role in influencing the tenant’s decision regarding renting. You can turn on the TV in a quiet voice before the client arrives for inspection, and you can also take him on a tour of the rooms to see the appliances and their quality. Especially ready for air conditioning.
Daily rental return
Daily rental apartments are distinguished by their good returns and large profits, but they require maintenance expenses and contracting with a private worker or cleaning company to send you a worker daily to take care of the house, arrange it, change covers and pillowcases, clean the bathrooms, and other tasks, which means there is a cost of cleaning and maintaining the devices used and maintaining them, as well as Replace damaged devices, if any.
Before determining the apartment rent, it is important to determine the value of the costs that will be borne during the client’s stay, such as water, electricity, telephone, and other bills, in addition to daily maintenance and cleaning expenses, as well as the periods during which the apartment will be empty, and thus calculate the rate of return during the year and the costs associated with it.
Apartments for daily rent in Saudi Arabia
There are places where daily rentals flourish, such as Saudi tourist cities, whether for religious tourism or recreational tourism. These cities receive visitors to Saudi Arabia coming for Hajj and Umrah, as well as those coming to attend cultural and entertainment events in Riyadh and elsewhere. They are also suitable for visitors to the Kingdom coming for a short work mission that lasts for several days.
Among the most important cities where daily rent is thriving:
AL Madinah AL Munawwarah
Makkah
Riyadh
Dammam
Daily rental apartment insurance
The daily rental apartment contains many expensive possessions and appliances that must be protected by insurance against damage, theft, etc.
Property insurance is necessary, whether through the property’s insurance companies or based on a clause in the rental contract, to cover damages that may be caused by the tenant or emergency incidents.
It is recommended to seek the help of a lawyer specialized in leasing affairs to guarantee your rights in the event of damage to any device, and make sure to mention this matter in the lease contract and agree to the tenant.
Accelerating the investment of daily rental apartments
There are factors that help you invest in an apartment for daily rent quickly and without disrupting each period, including:
Creating advertisements for the apartment on all real estate platforms in Saudi Arabia describing the apartment, its location, and its features.
Attach ready-made pictures of the apartment, its rooms, services, appliances, and furnishings, preferably a clear picture with strong lighting.
Seek the help of area brokers and inform them of the availability of an apartment for daily rent.