Tayyaba Shahzadi, Author at IM Properties

Tips

Best Ways to Locate the Landlord, Who Owns This Land?

By Tayyaba Shahzadi,October 27, 2023October 28, 2023

The daily responsibilities of a real estate investor are multifaceted and require adept management and resource allocation skills. Interestingly, one aspect of real estate investing that may come as a surprise is the need for investigative abilities. particularly when seeking to purchase without the knowledge of who owns this land. Identifying a landowner without any available information can be a challenging undertaking. However, knowing how to locate property ownership information can prove to be a valuable time-saving asset. Although it may seem daunting, there are several essential techniques for gathering information on unfamiliar properties. Once these strategies are mastered, investors can confidently pursue lucrative investment opportunities.

How to find the property owner?

Whether your goal is to purchase your dream house or you are an investor in search of the perfect rental, the initial inquiry you must make is regarding who owns this land.

There exist numerous methods for obtaining information about a property. Each of these methods may differ depending on the specific location, thus it is advisable to familiarize oneself with all of them. In certain situations, it may be necessary to employ multiple approaches in order to gather all the necessary details about land ownership. It is crucial to note that the techniques used here are most commonly utilized when purchasing an apartment in Ajman, UAE. The remaining methods may vary from one region to another.

Inquire about the current property owner

Moreover, approaching the door directly may result in direct interaction with the property owner. If the present occupant is a tenant or not the proprietor, they might be able to guide you to the correct location. It is customary for the existing resident to decline to open the door for unfamiliar individuals. In such circumstances, kindly leave a note containing your contact details so that the property owner can contact you if they are interested in selling.

Concern to county assessors for land owners

conducting a thorough search at the local county assessor’s office can provide valuable information regarding the property owner. This governmental entity maintains comprehensive property ownership records, enabling individuals to access the necessary details. By providing the property’s address or parcel number, one can obtain accurate information about who owns this land.

Recorder’s offices

Consult the county recorder’s office. This office maintains official records of property transactions, including deeds and titles. By reviewing these records, one can trace the ownership history and identify the current property owner. Some counties may charge a small fee for accessing these records.

An online search for land owner

Utilizing online property search databases can significantly expedite identifying property owners. Numerous websites offer user-friendly interfaces that allow individuals to search for property ownership details by simply entering the property’s address. These databases often provide comprehensive information, including the owner’s name, contact information, and even property tax records.

Real estate agents

Engaging the services of a professional title company or a licensed real estate agent can be advantageous in determining property ownership. These professionals possess the expertise and resources to conduct thorough investigations. After that provide accurate ownership information, while their services may involve a fee, they can save considerable time and effort in the search process. In cases where the methods mentioned earlier do not yield satisfactory results. It may be necessary to consult a qualified attorney specializing in real estate law. These legal professionals have experience in navigating complex ownership issues and provide expert guidance. In conclusion, finding the rightful owner of a property can be achieved through various effective methods. By utilizing resources individuals can successfully determine property ownership without any ambiguity.

Finel words

In conclusion, various methods exist to ascertain the property owner’s identity. These include conducting an online search, seeking assistance from sales agents and brokers, and utilizing other available means. IM Properties Real Estate boasts a team of seasoned property consultants who are ready to aid you in your quest. Take advantage of the opportunity for a complimentary consultation over the phone regarding properties in Ajman today!

tips & tricks

How Do I Make a Sustainable Real Estate Investment?

By Tayyaba Shahzadi,October 22, 2023December 18, 2023

Develop Sustainable Real Estate, What Is It?

The building process in sustainable real estate development integrates eco-friendly design principles, materials, and technologies. Sustainable real estate development strives to lessen a home’s environmental impact. The materials are used for everyday operations, rather than employing methods and materials that raise a home’s carbon footprint. By doing this, households can save operating costs and contribute to environmental conservation at the same time.

“Greenhabbing,” or “green” real estate development projects, is the environmentally friendly version of a typical flip, but with a major catch. Just like focusing on sustainable materials and procedures. Apart from the obvious, there is no difference between the two approaches. It’s easy to argue that the two departure routes have the same objective.

Create strategy

Combining your assets with your goals and beliefs is the first step towards creating a sustainable real estate strategy. What are your short and long-term investing objectives in real estate? Which ideals and beliefs guide your personal and professional decisions? What positive impact do you hope to have on your communities’ social and environmental well-being? You may positively affect your real estate endeavors. Match your approach with your values by clearly articulating your vision and goal.

Define your goals

Collaborate with experts in sustainable real estate, including engineers, architects, constructors, and property brokers who are knowledgeable about green building techniques. For each investment, we must evaluate potential risks and create a plan to mitigate them. When managing risk, you should consider factors like shifts in the market, changes in policies, and advancements in science.

Examine the structure from the inside out to identify any hidden issues that might impede its efforts to be green. It entails checking heaters, air conditioners, water pipes, insulation, and more.

Embrace Modern Technology

Everyday life is meant to be improved by technology, and sustainable real estate development is no different. Every year, green real estate development is enhanced by new technologies, and this year is no exception. Consequently, if investors wish to be as environmentally friendly as possible, they must use the newest technologies.

Increase Demand

There has been an annual increase in energy expenditures for over a decade, and 2023 is no different. Despite a slight decline in retail electricity prices over the past year. It should come as no surprise to anyone that prices for resources other than electricity are predicted to climb as early as next year. In addition, the further rises in natural gas, coal, and crude oil prices. If that isn’t enough, it is anticipated that energy consumption will rise for all resources combined, including electricity, renewable energy, natural gas, liquid fuels, and coal.

There’s no denying the trend

Homeowners want to beat the rising costs. It is in your best interest as a residential redeveloper to attend to their demands because demands will only adjust. The next time you decide to flip a house, think about making energy-saving improvements to counteract the rising cost of materials.

Residential redevelopers can save their purchasers by just focusing on green real estate development. They can save their consumers in rebates, depending on the exact renovations they choose to include in a home. The homeowners who were the subject of the research mentioned above were able to lower their annual energy expenses.

The challenges of sustainable real estate

The goal of sustainable development of real estate. To satisfy current requirements without endangering the capacity of future generations to satisfy their own. In terms of the built environment, this entails developing structures and neighborhoods. That is wealthy economically, socially just, and ecologically conscious. Still, there are certain particular obstacles that must be addressed before sustainability becomes the norm in the green building and real estate sectors.

One problem with quantifying sustainability is that there is no uniformity. While there are several rating systems and indicators available for evaluating sustainability, no single approach is widely accepted or employed. It is challenging for tenants and buyers to evaluate properties and decide where to live or invest. Additionally, it puts pressure on developers and builders to keep up with the laws, rules, and certification criteria pertaining to green building. which are constantly changing.

Summary

Sustainable real estate development is not a passing trend and individuals. who are interested in property flipping shouldn’t discard it. If nothing else, it’s the industry’s future, and residential redevelopers should take it into account in some way. Those that do will see their full potential unlocked, leading to increased revenue and profitability. In my opinion, investing in sustainable real estate development is the next logical step, and those who follow the latest trends will undoubtedly benefit from them.

Tips

What is ROI in Real Estate and How to Maximize it?

By Tayyaba Shahzadi,October 11, 2023October 28, 2023

In UAE, the real estate market is the top industry where everyone wants to invest because of its bright future. But ROI in real estate matters a lot. Before making a decision to invest in the real estate market, you have to understand what is Return on Investment (ROI) in real estate, how can you calculate it, and how to increase ROI for future returns. Don’t worry, this guide will cover all the factors that make you informed before investing in real estate.

What is ROI in Real Estate?

ROI in real estate, or “Real Estate Investment Yield,” is a measure that helps investors assess the profitability of their real estate ventures. It’s a simple way to determine how much money you’re making (or losing) from your real estate investments.

Essentially, it’s the ratio of the net profit you’ve gained from your property, considering factors like rental income and property appreciation, to the initial investment and ongoing expenses you’ve put into it. A positive ROI indicates a profitable investment, while a negative ROI means you’re losing money, and through ROI investors can decide whether to invest in real estate would be a wise option or not.

How do You Calculate ROI in Real Estate?

There are two common ways of calculating ROI in real estate, one is the cost method and the other is an out-of-pocket method. The second method is mostly used by investors because it gives high Property Investment Returns.

The Cost Method Formula

ROI is calculated by taking the investment gain from a property and dividing it by the initial costs of that property.

ROI = (Investment Gain of property / Initial Costs of property)

The Out-of-Pocket Formula

ROI is determined by dividing the current equity of a property by its current market value.

ROI = (Current Equity of property / Current Market Value of property)

What is a Good ROI in the Real Estate of UAE?

A “good” ROI in the real estate market in the UAE, as in any location, can vary depending on individual goals, risk tolerance, and market conditions. However, a common benchmark for good real estate profitability is often considered to be around 8-12% or higher. This means that the property should generate an annual return of at least 8-12% on your investment after considering factors like rental income, property appreciation, and expenses.

But, keep in mind that real estate market conditions in the UAE can fluctuate, and different types of properties (residential, commercial, etc.) may offer varying ROI potential. It is essential for someone to invest in the real estate market, conduct thorough research, consult with real estate experts, and consider the location factors to determine a good ROI in real estate.

Please note that What is deemed a “good” ROI in real estate by one investor might not meet the expectations of another, and some investors may have different risk tolerance levels and investment objectives, which can influence their perception of a good ROI.

What is the Average ROI in Real Estate in UAE?

The return on investment (ROI) in real estate is subject to fluctuations influenced by numerous factors, including property location, type, market conditions, and economic stability. Nevertheless, based on reports and research findings, both Dubai and Abu Dhabi have consistently demonstrated positive growth in their real estate investment sectors over time. On average, the ROI in these regions typically falls between 5% and 7%, although this figure may vary depending on individual properties and prevailing market conditions. Therefore, it is practical to engage in comprehensive research and consult with experts prior to making substantial investment choices.

How to Maximize ROI of Property?

There are certain steps that you can follow to achieve a high Return on Investment in real estate.

Location

Choose a location for properties wisely with a history of appreciation because this factor affects on profitability of investment.

Property Type

Consider different property types, such as residential, commercial, or multi-family, and select the one that aligns with your investment goals and market demand. Moreover, you can also choose ready-to-move or off-plan properties but make sure to choose it wisely according to customers’ demand and current market value.

Upgrades and Maintenance

Maintain your property in good condition to attract higher-quality tenants and maintain property value. Your interior as well as exterior are both well-maintained to attract both buyers and tenants. If you want to sell or rent out the property, make sure the walls are well painted, the kitchen includes cabinetry, the windows are properly polished, and the furniture is well-maintained in case of furnished rent-out property. This property maintenance and upgradation guarantees to yield high real estate investment.

Competitive Rental Price

Optimize rental income by setting competitive but profitable rents for the area. Make sure not to set high rent as compared to the market trends, hence yields short-term profit and lose long-term yields and credibility,

Market Research

Thorough market research before investing in real estate to yield high ROI. Stay informed about market trends, demand, and economic conditions in your chosen area.

Professional Management

In case you do not have enough time to manage your property or you live in abroad, then consider hiring a professional property management company in Dubai to handle day-to-day operations and tenant relationships.

Bottom Line

Real estate investment is very popular in the UAE because of its infrastructure, easy government policies, and tax-free environment. But high ROI in real estate investment is really important. But ROI can be different based on variable factors. We make sure to guide you about calculating ROI in real estate as well as how can you maximize it to save your investment. Having acquired all the essential knowledge, it’s now the perfect moment to embark on your real estate investment venture.

buy property in Dubai with mortgage for non-residents

Tips

Can non-resident buy property in Dubai with Mortgage?

By Tayyaba Shahzadi,October 9, 2023October 9, 2023

The affordable prices and the lowest interest rates in Dubai catch the attention of investors in the real estate sector. Dubai is a thriving real estate market and has become a popular destination for property investments for both locals and non-residents. Financing a property in Dubai is an easy way to buy your dream home without breaking the bank.

But the question is “Can a non-resident buy property in Dubai with a mortgage?” Yes, there are possibilities available, if you’d like to learn more about the eligibility criteria for non-residents, and mortgage terms and conditions, this guide will answer all your confusion.

Can a Non-Resident Buy Property in Dubai?

There are almost equal opportunities for both locals and non-residents to buy a property in Dubai using a mortgage. A property investor with a mortgage in Dubai for non-residents, can enjoy more benefits like high loan amounts and increased flexibility.

Moreover, the Dubai Land Department allows foreigners to own property, but the specifics can vary between freehold and leasehold areas. Freehold areas typically offer more flexibility to non-resident buyers. Besides, as compared to UAE citizens and nationals of UAE, there are limited options available for non-residents to get a mortgage. Finding the best mortgage broker in Dubai will help you to get through this process easily.

Eligibility Criteria for Obtaining a Mortgage as a Non-Resident

Before applying mortgage in Dubai for non-residents for property ownership, there are some bank requirements for a mortgage in UAE that you have to meet,

1. Several banks establish a minimum monthly income requirement, which typically begins at $4,000 or AED 15,000.

2. Usually, some banks in UAE restrict applicants from buying property in Dubai with a mortgage should be between 21 and 65 years of age.

3. The applicant must be a salaried or self-employed person for applying home loan application.

4. Before applying for a non-resident home loan in Dubai, it might be necessary for you to hold citizenship in a country that is included on the bank’s approved list. Required Documents for Home Loan as a Non-Resident

4. For Dubai property ownership for non-residents using a mortgage, make sure your chosen property falls under the list of property developers that the bank owns.

meet eligibility criteria to buy property in Dubai with a mortgage for non-resident – image credit: Bayut

Document Required for Home Loan for Non-Residents to Buy Property in Dubai

When applying for a home loan for non-residents to buy property in Dubai with a mortgage, there are certain documents that the applicant should have to submit to meet the eligibility criteria.

Passport with all pages
Pay slips from the past 3-6 months
Tax return for the last two years
Trade license if self-employed

Mortgage Terms and Conditions

Non-resident buyers should be aware of interest rates, loan-to-value (LTV) ratios, and repayment periods, as these terms can vary between lenders.

Interest Rates

The interest rates differ from bank to bank in UAE, however, they are slightly higher than UAE nationals and residents of UAE.

Loan-to-Value (LTV) Ratio

Under UAE Mortgage Law, non-residents of the UAE must provide a minimum down payment based on the property’s value:

For properties valued up to AED 5 million, first-time buyers are required to make a down payment of at least 20%.

For properties exceeding AED 5 million, non-UAE residents must make a minimum down payment of 30%.

It’s important to note that certain UAE banks may have stricter policies, offering financing for only up to 50% of the property’s value for non-resident applicants.

Repayment Period

The repayment period depends on the profile of non-residents, that banks may approve. However, the maximum age limit should not exceed 65 years for salaried persons and 70 years for self-employed persons during the tenancy of a home loan.

Maximum mortgage loan limit

The interest rates may vary between banks based on your loan amount and financial circumstances. For example, Mashreq Bank offers financing options of up to AED 10 million, while ADCB is prepared to provide financing for amounts as high as AED 15 million.

Challenges and Considerations To Buy Property in Dubai with Mortgage

While buying property in Dubai with a mortgage as a non-resident is feasible, there are several challenges and considerations to keep in mind.

Currency Exchange Rates: Fluctuating exchange rates can impact the cost of the property and mortgage payments.

Legal Fees and Transaction Costs: Non-UAE nationals Property Buyers should budget for legal fees, property transfer fees, and other transaction-related costs.

Residency and Visa Requirements: Non-resident buyers may need to navigate residency and visa requirements, depending on their investment plans.

Property Management and Maintenance: Overseas property ownership entails responsibilities like property management and maintenance, which should be considered. They may be required to hire property management companies in Dubai to oversee their property while they live abroad.

Benefits of Buying Property in Dubai as a Non-Resident

Despite the challenges, there are compelling reasons why non-residents consider investing in Dubai’s real estate market.

Investment Opportunities: Dubai’s market offers potential for capital appreciation and rental income.

Diversification: Investing in Dubai can diversify an investment portfolio, reducing risks.

Rental Income Potential: Many non-resident buyers earn rental income from their Dubai properties, adding to their investment’s profitability.

Future Resale Value: Dubai’s real estate market has a history of steady growth, potentially resulting in lucrative resale opportunities with high ROI.

Bottom Line

Non-residents can buy property in Dubai and secure mortgages, provided they meet the eligibility criteria and navigate the legal requirements. While non-residents can face some challenges while buying property through financing options or home loans, despite that, they would have a lot of benefits in the future by having a good investment in Dubai in the shape of real estate. You can get expert advice or conduct thorough research if you want to buy property in Dubai with a mortgage as a non-resident.

FAQs

1. Can non-residents purchase property in Dubai?

Yes, non-residents can buy property in Dubai, thanks to the city’s investor-friendly real estate regulations. Dubai has specific rules and areas where non-residents are allowed to own property.

2. What types of properties can non-residents buy in Dubai?

Non-residents can purchase various types of properties, including residential and commercial properties. They can also invest in off-plan developments.

3. Can non-residents secure a mortgage to buy property in Dubai?

Yes, non-residents can secure mortgages to buy property in Dubai. However, eligibility criteria and terms may vary among banks.

4. Are there any down payment requirements for non-resident buyers in Dubai?

Yes, Dubai’s mortgage regulations typically require a down payment. The amount may vary depending on the property’s value and the lender’s policies.

5. Can non-residents rent out their Dubai property for rental income?

Yes, non-residents can rent out their Dubai property and earn rental income, making it a viable investment option in addition to potential property appreciation.

Please note that Dubai’s real estate market and regulations may change over time, so it’s crucial to consult with legal and financial professionals for the latest information and guidance to buy property in Dubai with a mortgage as a non-resident.

Tips

Best Investment Opportunities in Dubai 2023

By Tayyaba Shahzadi,October 7, 2023October 7, 2023

Dubai is a hub for business and provides plenty of investment opportunities to secure the future. The government policies and the infrastructure in Dubai helps to grow small business which entice investors. The one thing that is very interesting and appealing is that these business opportunities are not only for the residents but for the foreigners as well.

If you are looking for new investment opportunities in Dubai, there are many investment options here, we will discuss the top 7 investment ideas in this blog for your consideration.

Top 7 Investment Opportunities in Dubai

1. Real estate – The Best Investment Option

Dubai real estate investment is considered to be the most popular and best investment in UAE and it would be successful because of the investor-friendly environment and open economic policies of the government. After Expo 2020, the demand for real estate booms, catching the attention of investors to invest in the property sector to gain high ROI.

Note: You can also contact improperties.ae experts team for more queries on real estate investment and take expert advice.

1.1. Invest in Commercial Property

Investing in commercial property in Dubai can be a smart move. Dubai is a hub of tourism, so investing in commercial property like hotels, restaurants, shopping malls, etc. gives you massive future returns with 12-15% expected ROI.

1.2. Invest in Developing Property

Investing in developing property in Dubai is like investing in the future. You buy land or buildings before they are finished, and as they grow, so does the value of your investment. With Dubai’s rapid growth and development, this can be a promising opportunity for those looking for long-term gains in the real estate market. Wondering how to convince investors to invest in real estate? Dubai’s thriving property market might just be the answer.

2. Tourism Sector

Dubai is supposed to be a top travel destination with diverse cultural values and attracts approximately 16 million tourists. According to research, the hotel occupancy rate was 71% in December 2020 which leads to high ROI in the investment of tourism services. As the top travel destination, tourism is also one of the top investment opportunities in Dubai.

3. Ignite Your Investment in Natural Gas

Investing in natural gas can be a bright idea and another best Dubai’s best investment options, because it’s a clean and reliable source of energy, not only that it can give you an impressive return of 30% high ROI.

So, if you’re looking for a way to make your money work harder for you, consider igniting your investment in natural gas – it’s a win-win opportunity.

4. Tech Marvels and Innovations

Investing in Dubai’s tech marvels and innovations presents an enticing opportunity for tech companies seeking a thriving ecosystem. With prominent hubs like Dubai Internet City and Dubai Silicon Oasis, the city provides a fertile ground for tech-driven enterprises. These projects of Dubai offer opportunities to investors in the technical sector.

By investing in Dubai’s tech sector, you not only align with cutting-edge advancements but also position your company for growth and success in one of the world’s most dynamic tech landscapes.

5. Infrastructure development

Investing in infrastructure development in Dubai is akin to building your wealth on solid ground. Dubai’s commitment to visionary projects, such as the Dubai Metro expansion and Al Maktoum International Airport, is transforming it into a global hub for logistics and trade. By participating in these infrastructure endeavors, you can secure a stake in Dubai’s prosperous future, as the city continues to thrive and expand its global footprint. This investment trend in Dubai not only promises steady returns but also plays a part in shaping the vibrant future of Dubai’s infrastructure landscape.

6. Renewable energy

For investors who are concerned about the environment and their finances, investing in renewable energy in Dubai is a good decision. Dubai has ambitious aspirations to utilize more renewable energy sources like the sun and wind. You may both contribute to and profit from these green energy projects by investing. Dubai’s pleasant climate makes it a fantastic site to harness the power of the sun for the planet and your financial gain.

7. Healthcare & Medical

A prescription for growth and financial security is investing in healthcare and medical services in Dubai. Dubai has committed to creating top-notch medical facilities and services that draw visitors and locals. By investing in this industry, you may take advantage of the rising need for healthcare services and support the city’s goal of becoming a hub for the industry. This investment opportunity promises a solid return on investment in Dubai’s rising healthcare sector given the city’s growing population and emphasis on high-quality healthcare.

Bottom Line

Dubai provides a wide variety of investment opportunities that can accommodate different interests and objectives. This city of dreams is overflowing with promise, from real estate to technology, infrastructure, renewable energy, and healthcare. Dubai’s vibrant economy and forward-thinking vision make it a tempting location for investors from around the world, whether they are looking for financial success, environmental sustainability, or both. So, make use of these best investment opportunities in Dubai intelligently, keep yourself educated, and think about using Dubai as your entryway to a future that is brighter and more wealthy.

Real Estate

Benefits of Buying An Apartment In Nuaimiya Tower C Ajman

By Tayyaba Shahzadi,October 3, 2023October 3, 2023

Ajman, As the smallest state of UAE, but has strong economic growth in the UAE real estate market, Ajman offers many freehold projects for residents as well as non-residents of the UAE. These projects are considered to be budget-friendly and do not break the bank as compared to Dubai’s projects but provide world-class amenities and a luxurious lifestyle. Apartments for sale in Nuaimiya Tower C is one of them. Here, we will sort out the benefits of buying an apartment in Nuaimiya Tower C Ajman, and help you to make a decision before investment.

Benefits of Buying An Apartment In Nuaimiya Tower C Ajman

Prime location

Located in Al Nuaimiya, Ajman, Nuaimia Tower C in Ajman enjoys a strategic location with several key areas nearby. Al-Rashideya 1 is just 1.3 kilometers away, providing residents with easy access to local amenities. Ajman Industrial 2 is also within close reach at 1.6 kilometers, while Mushairif stands at 1.8 kilometers. Slightly further, but still conveniently close, Ajman Industrial 1 is situated at 2.1 kilometers. Al-Safia and Ajman Creek, both at 3.5 kilometers, offer additional attractions and services. For those looking for a slightly broader range of options, Al-Jurf 2 is 3.6 kilometers away. Emirate of Ajman itself is accessible within 6.8 kilometers, and Hamriyah City lies at a distance of 13 kilometers. Furthermore, being just 33 kilometers from the Emirate of Sharjah, Nuaimia Tower C’s location facilitates easy access to neighboring emirates and the vibrant city of Dubai, making it a well-connected and convenient place to reside.

Top-notch amenities

Buying an apartment in Nuaimia C Tower Ajman has a lot of helpful things for people who live there. They have people who can fix things or help you 24/7, and they also have people who make sure it’s safe all the time. You can get coffee in the building, and there’s a special place for people to come together and do things. Your car can be safe from bad weather because there’s a place to park it under a roof. If you want to exercise, there’s a gym with all the stuff you need. They also have a place for garbage so things stay clean. You don’t have to worry about parking because they have spots for cars. And if you need to buy things, there are stores nearby, so it’s really easy and comfortable to live at Nuaimia C Tower.

Moreover, there are many amenities, like, The well-known Grandmall, Velocity Body Fitness, and Al Nahrain Medical Center are located quite close to this community. Many residents and visitors in the area often eat at Cancios, Al Marsa, Africana Home, Al Aqaba, and Delhi Corner Restaurant, among other excellent dining options.

Flexible payment plans

For the investors and newbies in the real estate market of Ajman, financing options for Nuaimiya Tower C apartments are very flexible and convenient, which does not break the bank. You have to pay only an 8% down payment to book your dream house and pay the remaining amount in 96 installments in the next 8 years.

Less energy consumption

Buying a flat in Nuaimiya Tower C Ajman has one more benefit less energy consumption. The apartments are designed in a way that they are more ventilated, have exposure to sunlight, fresh breathable air to reduce the consumption of electricity.

Freehold property

Nuaimia C Tower in Ajman is a freehold property in Ajman. You have full control and complete ownership when you own a unit there. You don’t need to involve any third parties when you want to sell or transfer your property. It’s all in your hands, making it a hassle-free and straightforward ownership experience.

Multiple floor plans

Ground Floor

The ground floor typically serves for reception, lobby, shops, offices, and service rooms, along with a variety of shopping centers, etc. Moreover, besides the ground, there are a total of 6 floors of covered parking for the residents.

Studio

The Nuaimia Tower C comprises studio apartments that create a cozy atmosphere. These units include a bathroom and an open American-style kitchen, promising an enjoyable cooking experience, and a balcony for breathable air. There are multiple floor plans for studio apartments, like Type D floor plan, Type E, Type F, and Type G floor plans and the gross area floor plans are 572.33 Sq ft, 628.98 Sq ft, 567.77 Sq ft, and 686.50 Sq ft respectively.

1-Bedroom Apartments

One-bedroom apartments are comprised of 2 bathrooms, 1 kitchen, 2 balconies, and 1 living room which is ideal for single, couples, or small families. The gross area of the apartment is 985.24 Sq ft.

2-Bedroom Apartments

Two-bedroom apartments are ideal for medium-sized or large families and comprise of 2 bathrooms, 1 kitchen, 1 living room, and a balcony. The gross area of the apartment is 1,436.20 Sq ft.

Bottom Line

Apartments for sale in Ajman have plenty of opportunities for investors and would be a profitable decision for future savings. Buying an apartment in Nuaimiya Tower C Ajman brings more benefits of living and an abundance of world-class amenities.

If you are interested in Real estate investment in Nuaimiya Tower C Ajman, then contact improperties.ae for more enquiries and expert advice.

Featured Image: ajmanproperties

Tips

Ultimate Guide to Choosing a Property Management Company in Dubai

By Tayyaba Shahzadi,September 25, 2023October 31, 2024

Updated: 31-10-2024

Dubai’s real estate landscape is renowned for its luxurious properties. However, maintaining and managing these investments requires expertise. This comprehensive guide explores the benefits of hiring property management companies in Dubai and highlights key factors to consider when selecting the right firm for your needs.

Why Choose a Property Management Company in Dubai?

Property management companies in Dubai offer a range of services designed to maximize the benefits and profits you generate from your property. Their expertise encompasses:

Efficient Property Maintenance: From routine upkeep to addressing repairs, property managers ensure your investment remains in top condition.

Strategic Property Marketing: They leverage their knowledge of the market to effectively advertise your property for lease or sale.

Streamlined Leasing and Sales Processes: Property managers handle tenant screening, lease negotiations, and renewals, simplifying the rental process. When selling, they can manage showings and marketing efforts.

Filling Vacancies with Qualified Tenants: They identify and screen potential tenants to ensure responsible occupancy.

Market Expertise: Their in-depth understanding of the UAE real estate market allows them to make informed decisions that generate optimal returns.

These services free up your valuable time and allow you to enjoy the rewards of property ownership without the daily hassles of management.

Top Considerations When Selecting a Property Management Company in Dubai

Finding the ideal property management company in Dubai requires careful consideration of several key factors:

Reputation and Experience: Prioritize companies with a proven track record, extensive experience managing properties in Dubai, and positive client reviews.

Range of Services: Ensure the company offers a comprehensive suite of services including marketing, tenant screening, financial reporting, maintenance coordination, and legal compliance.

Transparency and Communication: Choose a firm that prioritizes open communication and provides clear and transparent operations.

Licensing and Accreditation: Verify that the company holds a valid license and adheres to all Dubai real estate regulations.

The Pros and Cons of Hiring Property Management Companies in the UAE

Pros	Cons

Diversification and Risk Reduction: Spread your investments across various locations to mitigate risks associated with a single property.

Relinquishing Control: Some owners may find it challenging to cede control over certain aspects of property management decisions.

Time Savings: Free yourself from the burden of day-to-day management tasks, especially beneficial for owners with multiple properties.

Potential Disagreements: There’s a possibility of disagreements between owners and managers regarding tenant selection or other choices.

Expert Management: Leverage the expertise of professionals in property maintenance, legal matters, and tenant management.

Management Fees: Property management companies typically charge a portion of your rental income as a fee for their services.

Property Optimization: Maximize rental income and property value, ultimately increasing your profits.

Finding the Best Property Management Company in Dubai

While this guide doesn’t recommend specific companies, prioritizing factors like experience, service offerings, transparency, and licensing will help you narrow down your search. Utilize online resources, client testimonials, and industry recommendations to create a shortlist of qualified firms.

Conclusion

Hiring a property management company in Dubai can be a wise decision, particularly for those who own multiple properties or reside abroad. These companies offer valuable services to maximize returns, minimize risks, and streamline property management. By carefully considering your needs and the criteria listed above, you can make an informed choice and select the best property management company for your Dubai investment.

Tips

Bank Requirements for Mortgage Application in UAE

By Tayyaba Shahzadi,September 22, 2023September 22, 2023

Imagine you want to buy a new home in Dubai. That’s pretty exciting for anyone, right? But here’s the thing – coming up with all the cash you need upfront can be tough. Don’t worry, though! Getting a mortgage or a home loan in Dubai can make it much easier. Instead of paying everything at once, you can manage your payments over time.

Now, whether you’re living in the UAE, from another country, working for a company, or running your own business, there are some bank requirements for mortgage application approval you need to follow them. This guide will help you understand what documents you’ll need to apply for a mortgage in different cases. Let’s make your dream of owning a home in Dubai a reality!

Bank Requirements for UAE Residents

For a mortgage, there are some requirements from the Bank of UAE for the nationals or residents of UAE. The Documentation required for the mortgage approval is listed below,

Eligibility Criteria

For salaried employees, a minimum of 6 months in their current job is typically required.
Self-employed individuals are generally expected to have been operating their business for at least 2 years.
Maintaining a positive credit history is a crucial factor.
Initial down payments usually begin at 20%, although some national Islamic funding options may require only 15%.
Many banks set a minimum monthly income threshold, often starting at AED 15,000 (or AED 25,000 in salary or AED 3,000,000 in annual turnover for self-employed borrowers).
Usually, banks cap the monthly loan repayment at 50% of your income.
Typically, applicants should fall within the age range of 21 to 70 years old.
Some banks may restrict loans to individuals employed in well-established institutions or government departments.

Moreover, in addition to these documents, banks also verify the identity, residency, employment status, and financial position of the lender for trustworthiness.

Pre-Approval & Final Approval Documents for Residents

Common documents for pre-approval for both Salaried and Self-Employed

Passport
Emirates ID

Pre-approval		Final approval
Salaried	Self-Employed	Fully Filled Mortgage Application
Current salary certificate	a valid copy of your trade license	Facility Approval Proof
Pay slips from the past 3-6 months	Memorandum of Association (MOA) with all updates	Executed Purchase Agreement (Form F + MOU)
If you’ve been in your current job for less than 3 years, show proof of your previous employment	Submit audited financial records from the last 2 years	NOC
recent credit card statements	bank statements for your company from the last 6 months	—
Labor ID (if applicable)	personal bank statements for the past 6 months	—

These documents are typically required during the mortgage application process for the nationals of UAE to assess your financial situation and eligibility.

Bank Requirements for Expats

The Home loan eligibility criteria for ex-pats which are very similar to the eligibility criteria of UAE residents are listed below,

Eligibility Criteria

For salaried employees, a minimum of 6 months in their current job is typically required.
Self-employed individuals are generally expected to have been operating their business for at least 2 years.
Maintaining a positive credit history is a crucial factor.
Initial down payments usually begin at 20%, although some national Islamic funding options may require only 15%.
Many banks set a minimum monthly income threshold, often starting at AED 15,000 (or AED 25,000 in salary or AED 3,000,000 in annual turnover for self-employed borrowers).
Usually, banks cap the monthly loan repayment at 50% of your income.
Typically, applicants should fall within the age range of 21 to 65 years old, 70 years for self-employed
Loan duration up to 25 years.
Some banks may restrict loans to individuals employed in well-established institutions or government departments.

Pre-Approval and Final Approval Documents for Expats

Common documents for pre-approval for both Salaried and Self-Employed

Passport
Emirates ID
Proof of Residency with DEWA utility bills

Pre-approval		Final approval
Salaried	Self-Employed	Fully Filled Mortgage Application
Current salary certificate	a valid copy of your trade license	Facility Approval Proof
Pay slips from the past 3-6 months	Memorandum of Association (MOA) with all updates	Executed Purchase Agreement (Form F + MOU)
If you’ve been in your current job for less than 3 years, show proof of your previous employment	Submit audited financial records from the last 2 years	NOC
recent credit card statements	bank statements for your company from the last 6 months	—
Labor ID (if applicable)	personal bank statements for the past 6 months	—

You can explore more home loans for ex-pats in the UAE for the understanding of applying for mortgage applications in the bank.

Bank Requirements for Foreigners

The typical Mortgage application process has also some bank requirements for mortgages for foreigners or non-residents of the UAE. The required documents are listed below,

Eligibility Criteria

For salaried employees, a minimum of 6 months in their current job is typically required.
Self-employed individuals are generally expected to have been operating their business for at least 2 years.
Maintaining a positive credit history is a crucial factor.
Initial down payments usually begin at 20%, although some national Islamic funding options may require only 15%.
Many banks set a minimum monthly income threshold, often starting from $ 4,000 (or An annual turnover exceeding $816,000 for self-employed individuals).
Usually, banks cap the monthly loan repayment at 50% of your income.
Typically, applicants should fall within the age range of 21 to 65 years old.
Loan duration up to 25 years.

Pre-Approval and Final Approval Documents for Foreigners

Common documents for pre-approval for both Salaried and Self-Employed

Passport with all pages
Local ID
Overseas residential proof

Pre-approval		Final approval
Salaried	Self-Employed	Fully Filled Mortgage Application
Current salary certificate	Company establishment document	Facility Approval Proof
Pay slips from the past 3-6 months	Memorandum of Association (MOA) with all updates	Executed Purchase Agreement (Form F + MOU)
If you’ve been in your current job for less than 3 years, show proof of your previous employment	Submit audited financial records from the last 2 years	NOC
Reference letter with at least 45 years old	bank statements for your company from the last 6 months	—
Tax return for last two years	personal bank statements for the past 6 months	—
	Chamber of Commerce registration copy
	Labor contract copy

How to Send These Mortgage Application Documents?

If you directly go to a bank or through a mortgage broker in Dubai for the application process then the bank gives to a list of required documents which they needed. These documents must be sent or you can WhatsApp them to the selected broker or bank to further examine the documents. After examination of documents, may be little mistakes found (Leading to numerous exchanges and discussions), which causes the delay of the application approval process.

Bottom Line

we’ve covered the eligibility criteria for both the pre-approval and final approval stages of the mortgage application process, focusing on UAE residents, UAE non-residents, and expats. These criteria are vital in meeting the bank requirements for mortgage applications. Understanding these prerequisites is key to making your dream of homeownership in the UAE a reality.

how to receive security deposit back from landlord

Tips

A Tenant’s Guide to Getting Your Security Deposit Back in UAE

By Tayyaba Shahzadi,September 20, 2023September 20, 2023

UAE is the hub of the tenancy market, where tenants can find better rental options when their tenancy contracts are ended. So, now it’s time to vacate your apartment in UAE to have better opportunities and get your security deposit back from the landlord. But keep in mind that you make sure to return the property in the same condition if you want your security deposit 100% back. In this blog, we will explore some tips for receiving a security deposit back from a landlord without any hassle and disputes.

Tips for Receiving Security Deposit Back from Landlord

Getting a security deposit back should be dispute-free, if you follow these tips then surely the Security deposit return procedure will be easy for you.

Getting ready for a smooth move-out and Read the Maintenance clause

According to Law in UAE, the landlord is responsible for the maintenance or fixes of the property during the term of the lease. Moreover, according to Law, the landlord is responsible for major fixes of above 200 AED and tenants are responsible for minor fixes of less than 200 AED.

Therefore, if the maintenance clause is not included in the tenancy contract, then the landlord must be responsible for all the maintenance. If any damage to the property, the tenant must fix or repair it before handing back the property to the landlord to avoid any deduction of the security deposit.

Maintaining comprehensive records is also beneficial, encompassing details such as your move-in date, repairs conducted during your tenancy, any personal expenditures, and post-move-out activities.

While there are some documents to be ready to keep proof in case of any dispute with your landlord.

Tenancy contract
Utility bills of property
Maintenance invoices
Rent invoices
Ejari Certificate
Property Inspection Certificate
Inventory List

Cleaning and Repairs of Walls

Ensuring that you patch up wall holes, repaint if there are any stains, and remove stickers if any, will help secure the return of your security deposit without any deductions in the procedure.

Repair and Replace Furniture

In the scenario of residing in a furnished apartment, it is imperative for the tenant to keep the furniture in a well-maintained and tidy state, promptly addressing any damages that may occur. But in case of having an unfurnished apartment, the tenant should remove all the furniture and accessories from the home otherwise the landlord will deduct the furniture removal cost from your deposit cheques. Furthermore, any unaddressed damages may also lead to deductions from your deposit.

Communication with Your Landlord

Whenever you want to leave the property and end up with the tenancy contract, you have to communicate with the landlord to return your deposit. According to the lease contract, the process may typically require approximately 30 days for the landlord to safely return your deposit, but it may vary, you should first read the clauses of the lease contract. Building a healthy and pleasing relationship with your landlord helps you receive a security deposit back from the landlord without any hurdle.

Pay Utility Bills

Before moving out, one should pay out all the FEWA, internet bills. Moreover, cut the electricity, water, and internet at that time to avoid the extra expenses at the time of moving. If you do not turn off all the connections at the right time, obviously landlord will deduct charges from your deposits.

Move-Out Final Inspection

To secure the complete repayment of your security deposit, it’s crucial to make a move-out inspection checklist alongside your landlord before leaving. Follow these important steps:

Arrange an Inspection Appointment: Arrange a suitable date and time for the inspection that works for both tenant and landlord.

Thorough Walkthrough: Accompany your landlord as you precisely go through each room in the property, inside and out.

Document Existing Issues: Identify and clearly indicate any pre-existing problems or damages that were present at the start of your tenancy, as well as any wear and tear that occurred naturally over time.

Visual Evidence: Use your camera or smartphone to capture visual evidence of the property’s condition. Take photos or videos of all areas, focusing on any areas of concern.

Signed Confirmation: Request your landlord’s signature on a document affirming their inspection of the property. This document should express their satisfaction with the property’s condition and specify the agreement regarding the return of your security deposit, including any deductions if applicable.

Maintain a Copy: Ensure you keep a copy of this signed document for your own records.

By adhering to these steps, you can help guarantee the return of your security deposit in its entirety, avoiding any potential disputes.

Deductions and Disputes

If you’ve diligently followed all the necessary steps for a smooth move-out process but find that your landlord has unfairly deducted charges from your security deposit, resulting in a dispute, there is a recourse available.

In such circumstances, tenants have the option to file a complaint against their landlord with the Ajman Rent Disputes Committee.

Bottom Line

Moving out is a right of any tenant, but with proper guidelines, the procedure of receiving the security deposit back from the landlord becomes dispute-free.

If you are looking for rental properties, we have a bundle of apartments for rent in Ajman in our inventory.

Real Estate

Villas for Sale in Ajman Direct from Owner

By Tayyaba Shahzadi,September 18, 2023September 18, 2023

Welcome to our blog, of villas for sale in Ajman direct from the owner, Ajman established a residency program of villas for foreigners and tourists in 2004. Compared to the neighboring emirates of Dubai, Sharjah, and Abu Dhabi, Ajman offers a significantly lower cost of living, making villas in this emirate a highly affordable option, especially when purchasing directly from the owner, as it eliminates the need for hefty commissions.

Whether you’re a single professional or have a small family, apartments for sale in Ajman can be an excellent choice.

However, if you have a larger family or desire more space and privacy, villas for sale directly from owners in Ajman become the ideal solution. In this blog, we will try to find out the best areas for direct owners selling villas in Ajman, and other factors for your help in making a decision to buy property in Ajman.

Types of Villas in Ajman

If you come to buy a villa for sale in Ajman, there will be a variety of options tailored to your specific needs and preferences. Certainly, villas come up with different square feet of area to accommodate various lifestyles and family sizes.

For those seeking a cozy yet spacious living space, the 3-bedroom villas for sale in Ajman offer around 1,695 square feet of living area with 4 bathrooms.

If you require more room for your family or desire extra space for guests and activities, the 4-bedroom villas for sale provide a generous 3,300 square feet of living space with 4 bathrooms.

Likewise, for those in search of a grand and luxurious living experience, the 5-bedroom villas for sale offer an expansive 5,000 square feet of living area.

Likewise, those families who are seeking a grand space with a luxurious lifestyle require 5-bedroom villas for sale which come up with 5,000 square feet of spacious area. The preference is yours to choose accommodation. Ajman offers a variety of living choices for everyone, hence Ajman cares about everyone.

Villa type	Area
3-bedroom	1,695 sq. ft.
4-bedroom	3,300 sq. ft.
5-bedroom	5,000 sq. ft.

Popular Areas for Villas for Sale in Ajman Direct from the Owner

There is an abundance of the best places to live in Ajman, here we will discuss popular areas for Ajman villas for sale by owner.

Al Rawda

Located near the border of Sharjah, the abundance of villas here makes it a popular location for villas for sale in Ajman. Moreover, Real Estate Market report of Ajman in 2019, Al Rawda has become the top spot for buying and renting villas. There is a range of 3-bedroom villas to 7-bedroom villas available for sale directly from the owner, and its price range starts from 1,010,000 AED to 1,927,000 AED.

Al Zahra

The most popular residential area for buying villas in Ajman according to Bayut’s Ajman Year End Market Report 2019rsing to Bayut’s Ajman Year End Market Report 2019. Located near the Al Helio, and the other most popular locations of Ajman like Emirates City and Al Jurf Industrial Area. There is a range of 4-bedroom villas and 5-bedroom villas available in Al Zahya with average sale prices of 706,000 AED and 1.1M AED respectively.

Al Yasmeen

Al Yasmeen is only a villa community with a range of 3-bedroom villas to 6-bedroom villas. This community is located Ajman-Sharjah Border and is a close proximity to Sheikh Muhammad Bin Zayed Road. The 3-bedroom villas have a price range of 840,000 AED to 990,000 AED. The Price range of 4-bedroom villas is 850,000 AED and the average sale price of 5-bedroom villas is 1.07M AED. These prices may vary according to market trends, you can buy it directly from the owner so the commission will be eliminated from agents and brokers, which leads to lower sale prices.

Al Helio

This a residential district of Ajman, with 3 sub-communities Al Helio 1, 2, and 3. This sought-after location has direct access to Al Hamriyah Road and Sheikh Maktoum Bin Rashid Street. Al Helio offers 3-bedroom villas to 6-bedroom villas with average sale prices ranging from 909K AED to 1,132,000 AED.

Al Mowaihat

This is another one of the popular developing community villas for sale in Ajman, located near the Ajman-Sharjah Border towards the South of Ajman. It has 3 sub-communities from Al Mowaihat 1 to Al Mowaihat 3. Moreover, Al Mowaihat is a popular residential area for villas and freehold flats in Ajman, due to its luxurious interior and affordability. Al Mowaihat offers 3-bedroom villas to 10-bedroom villas for sale in Ajman and has an average price range of 1,052,000 AED to 1,575,000 AED.

Benefits of Buying Villa Direct from the Owner

Reduce Property Buying Cost

Save money and reduce the buying cost of any property is one of the biggest advantages of buying property in UAE directly from the owner. If you rely on a real estate agent or broker to find villas, they will charge a commission which leads to an increase in the buying property cost.

There are other expenses as well if you buy property, for instance, if you buy villas for sale in Ajman directly from the owner of the developer, you have to pay Ajman property registration fees. Moreover, those who have to buy a property through a mortgage have to pay an additional 0.25% of the total value of the mortgage as well as an additional admin fee.

This process is mandatory whether you buy property directly or involve any agent, however, if you rely on agents they will charge extra costs as their commission which leads to an increase in the buying cost of the property.

Bypassing Agents or No Middle Man

Most of the time you know your needs best, and you can buy your property faster directly from the owner by eliminating the brokers because sometimes the middleman becomes a blessing for you or sometimes just a waste of time. No agents mean no commissions, and no extra charges. Some renowned developers in Ajman offer to book your desired property online, and it eliminates the need for real estate agents.

Bottom Line

Ajman’s direct-from-owner villa market offers an attractive opportunity for those seeking cost-effective and customizable housing solutions in the UAE. With various villa sizes and popular areas to choose from, Ajman caters to a range of preferences. Buying directly from owners not only reduces costs but also streamlines the purchasing process by eliminating middlemen.

Villas for sale in Ajman direct from the owner ensure a more efficient and cost-effective property acquisition experience in this thriving emirate.