The rise in demand for short-term rental properties is expected to pick up even more speed this year following the formal rollout of new visa policies implemented to spur further global tourist arrivals to the country.
The UAE government has announced new regulations for the holiday homes industry, including a scheme that allows homeowners to rent out their properties for up to 180 days per year at 50% below market value.
The scheme also gives homeowners tax breaks and allows them to keep their earnings from rental income.
Homeowners can now register with the Department of Tourism and Commerce Marketing (DTCM) and rent out their properties either directly or through an agency like BLVD Holiday Homes. The scheme is only available for all landlords / Investors can earn up to 50% more rent revenue by renting out houses as holiday homes says Rania Mrassi CEO of BLVD Holiday Homes: “We are very excited about this announcement because it’s going to give people a lot more choices when it comes to buying and renting out their property in Dubai.”
Rania, a Tunisian-born entrepreneur who now calls Dubai her home, has many years’ experience in the holiday homes industry. She has grown her company exponentially and now heads the BLVD Properties Group which includes a real estate brokerage.
She said, “Short-term rentals are an excellent opportunity for homeowners who want to earn more money from their properties. With the growing popularity of this form of short-term leasing, more people have been renting out their homes online. The benefits of short-term leasing are many: owners get extra income, guests get cheaper accommodation and both parties get to enjoy meeting new people.”