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[scarlet]

Choc I did say I would except 2 x 6month cheques.As for 1 month cheque,I'll do that if u pay me double the going rate.Ok?
Otherwise,please tell me why the hell I would?

Because your mortgage payments (if any) are monthly

[Alex1111]

Choc I did say I would except 2 x 6month cheques.As for 1 month cheque,I'll do that if u pay me double the going rate.Ok?
Otherwise,please tell me why the hell I would?

Because your mortgage payments (if any) are monthly

Oh heres the other one who would rent a property for way less than the going rate and do it monthly when she could get 6monthly.
Errr,all the other fees listed have to be paid right away dude.

[scarlet]

Choc I did say I would except 2 x 6month cheques.As for 1 month cheque,I'll do that if u pay me double the going rate.Ok?
Otherwise,please tell me why the hell I would?

Because your mortgage payments (if any) are monthly

Oh heres the other one who would rent a property for way less than the going rate and do it monthly when she could get 6monthly.
Errr,all the other fees listed have to be paid right away dude.

err dude you're living in a false economic world and you'll get hurt when Dubai standardises with the rest of the world. So what you have to pay rates, maintenance etc up front? That's what happens everywhere else.

[Chocoholic]

Geez by offering 6 monthly you sound like you're doing people a favour - not likely! News flash Alex, paying monthly is the norm in any other city, anywhere else in the world. And why would you be paying less, to spread it over a year? If anything it's more convenient for both sides.

Scarlet give it up chick, he just doesn't get it. I'm sure he soon will when he can't rent it out.

[Alex1111]

Geez by offering 6 monthly you sound like you're doing people a favour - not likely! News flash Alex, paying monthly is the norm in any other city, anywhere else in the world. And why would you be paying less, to spread it over a year? If anything it's more convenient for both sides.

Scarlet give it up chick, he just doesn't get it. I'm sure he soon will when he can't rent it out.

Doing people a favour?Nope,but like i keep trying to get through to you,thats how the majority pay.So forget what they do all over the world,this is dubai and right now this is whats happening.
Choc your a complete hypocrite.You more or less admitted u will charge the going rate when your unit is ready.No doubt if Scarlet,miss charity worker had a unit she would do the same so please don;t preach what u wouldnt practice.

[Chocoholic]

Alex, my circumstances are different than yours, in the fact that I will be doing short term rentals, not on a yearly basis, so of course the rents will be different. That's the way I and other people who've invested in the same project as me are going to work it, so you can't compare.

You don't know what the 'going rate' is for SO as hardly anything is ready there, so you have nothing to compare it to apart from the finished complexes around it, which we have all stated rent for much less than you are looking for.

You just go by what the agents tell you, well WE the CONSUMER are telling you something different. Now sit down for a minute and think who you should actually be listening to, the people out there making money of your back, or the people who're more likely to put money in your pocket. Doesn't really take brain surgery to firgure that one out now does it.

And the argument 'oh that's Dubai, that's how it works' is pathetic, you go ahead and be a sheep and follow the herd - baaaaaaaaa!

I have already stated that if you get what you're asking for it, then good luck to you. And as I have already stated, seems I have to repeat myself, the problem I have with people like you, are your payment terms. 4 cheques is the norm these days, not 2!

I've worked with people buying properties to rent and to live in, I have lots of friends who work in the industry so I've learned much about it. I know what I'm talking about, so I don't have to justify myself to you or anybody.

[Alex1111]

I do have something to compare it to,International City where a 1bed goes for 65.000.DSO is a far nicer area to live at so 75.000 is right.Like I said 3 agents valued it,maybe one of them is one of your friends.
As for your rental demands,whether u are renting short term or long term will u be asking for the going rate or will your charity head kick in?

[Chocoholic]

Well that's a random sweeping statement. When the 1 beds in the cluster of International City go for 55,000 and no more. The higher priced ones are in the large self contained buildings which also have gyms, pools and underground parking. So you have to be more specific.

So to that end, what facilities does your apartment have? what's the square footage? Does it have balconies and what are their areas?

Come on Alex, give proper info instead of half of it. And as many of the forumers have said here, most of the agents are pretty much daylight robbers.

[Alex1111]

Tell u what Choc,I'll answer your question when u answer mine finally
.Are u going to rent short term for the going rate,even if most would consider it to be expensive,or will u rent for much less?
Would u also do that if u were renting long term?
I'll expect a proper answer this time.

[Chocoholic]

Well considering the project won't be finished until december 2009, it's impossible to say what the going rate will be. But I will be looking at the rates hotels would charge for furnished serviced apartments. It will take alot of research,because of the location, the calender of events, it will fluctuate from month to month. There will be no long term rent.

The person I am aiming at are those coming into town for short breaks, for events, business etc.

There will be highs and lows and the rates will be adjusted accordingly.

Which is different to long term fixed rents.

[Alex1111]

Well considering the project won't be finished until december 2009, it's impossible to say what the going rate will be. But I will be looking at the rates hotels would charge for furnished serviced apartments. It will take alot of research,because of the location, the calender of events, it will fluctuate from month to month. There will be no long term rent.

The person I am aiming at are those coming into town for short breaks, for events, business etc.

There will be highs and lows and the rates will be adjusted accordingly.

Which is different to long term fixed rents.

Well considering hotel rates in Dubai are extremely expensive due to the lack of supply,and as by Dec 2009 it will still be the same,then in other words u will be charging alot.
Therefore,u are no different from all the other 'greedy'landlords.
You can make alot of money with a serviced appartment so I hope all those dirhams will help supress any guilt u may feel.

[onetickin]

Geez by offering 6 monthly you sound like you're doing people a favour - not likely! News flash Alex, paying monthly is the norm in any other city, anywhere else in the world. And why would you be paying less, to spread it over a year? If anything it's more convenient for both sides.

Scarlet give it up chick, he just doesn't get it. I'm sure he soon will when he can't rent it out.

Exactly!!! You are a genius!! Someone give her a peanut.

He will have to adapt to 4 cheques, or 40 cheques, or phone credit, or food vouchers, or whatever when there are too many landlords chasing too few tenants. But, for now, Alex can and will ask for 2 cheques.

Since when did Greed give a damm about norm/fair/reasonable?

And as for "getting it", I see very little economic acumen in your posts. Acutally, I'm incorrect, your plan to rent to short term lets is in persuit of a higher yield than long term rent.

[Chocoholic]

Why should I feel guilty about running something as a business?

And I said before there is well enough supply for the demand.

And you still didn't answer my question, so I can't tell whether that you're asking for is justified.

[Alex1111]

Why should I feel guilty about running something as a business?

And I said before there is well enough supply for the demand.

And you still didn't answer my question, so I can't tell whether that you're asking for is justified.

Oh I see,cos your running a business your allowed to screw people!You really are some kind of hypocrite.
Actually,mine is a business too so am I excused or am I still a blood sucking landlord?

[Alex1111]

Like onetickin has explained a couple of times,times are good for landlords now,but when the oversupply hits,and it could hit big big time ,then landlords like myself will be screwed by all those poor unfortunate tenants out there.
Don't think it will pass u by Chocs,there will be tons of hotels and serviced appartments in the future also, and when that is u won't be screwing anyone either!

[scarlet]

I can't believe you are in the Real Estate industry Alex. I'm glad you put your name in your handle - it means I can avoid dealing with you in the future.

[Chocoholic]

Alex, get over it, you are obviously thick as a plank as you just don'tget it. So it's pointless explaining it to you. I know the market, I know what's what, I know what's fair and what's not.

You're just a plonker.

And why am I a hypocrit? Your apartment is a good size, has great facilities etc etc. But the area is dubious to say the least.

For rental incomes, I would take the highest and lowest and place the property somewhere in the middle, good all round, no probs. You're just pissed because people are justifying the fact that the area doesn't validate those kind of rents, adn we have better ideas that you didn't think of.

change career mate, cause clearly it doesn't suit you to be in Real Estate - hahahaha

[Alex1111]

I think your the plonker Choc.Even after all this time u still havent said u will rent your own personal unit for less than market value if u feel its too expensive.One,big,boring hypocrite !

Scarlet,I am not a agent !!!!Your as stupid as your thick friend !

[onetickin]

Alex would like X, and if he is unable to obtain it, market forces will force him to reduce his demands to Y. What is so difficult to understand about that?

How can he possibly be a plonker for attempting to gain the best he can? If he can not, he will reduce his demands. As for what it is worth today, the market forces will dictate that. The idea that Choco knows her market and economics I find quite funny.

[Alex1111]

Whats quite funny onetickin is that although Chocs thinks all landlords are greedy sons of the Anti-Christ,she still has not said she will rent her unit for less than it's worth.Isn't that a hypocrite?!

[Alex1111]

Errrr,u guys need to read the first page and a half again.

[Chocoholic]

Now you're just being silly Alex, wanna get done for false advertising?!

I actually spoke to my friend yesterday about SO and your apartment, giving him all the stats. He is a Real Estate Consultant, so totally unbiased and makes his living from giving good advice.

He said the problem with SO is that they've had problems over the last 12 months and the values have only gone up by about 4% in the last year, which is nothing compared to the increase in value of properties elsewhere.

Bearing in mind the location, facilities available, size etc - it's not a community project, but commercial and residential - and the other areas of residences close by, a fair rental price would be 60,000 - 65,000 Dhs max for the first year.

He said the agents will lead you up the garden path and give unrealistic figures, which they know damn well to be too high, getting your expectations up. Think about it, if you're going through and agent, the higher they put the price, the higher commission they get and don't forget the majority of these guys don't get a basic salary, they work soley off commission, so of course they're going to tell you inflated prices.

That's the last thing I have to say here. My friend is a professional, who know his stuff and as I said is not an agent or broker but a consultant, so will take into account the big picture.

[onetickin]

This thread makes me laugh.

[Alex1111]

Thanks Choc but have been contacted today through another agent and has seperate clients who are ready to sign now.The price I asked for and possibly one cheque.Apparantly he has had huge demand for the area.So hopefully it will go through.
Your friend is talking rubbish and obvioulsy doesnt know DSO whereas I know it inside out believe me.4% in one year is total rubbish.
DSO is the dark horse of Dubai and is staring to boom.In the last couple of days its been announced Porsche are setting up their middle east headquarters there plus Emarr business park is relocating there.
Already at least 100 companies have licences for the area.Microsoft are setting up there.Unlike places like JV,DSO has the infrastructure,roads etc in place.40 projecst ranging from single 8 storey buildings to the large German Business Park are either under construction or about to start.Also another 1042 villas under construction.
Plus of course many other projects to be launched and companies to move there.
If your friend wants some proper info please ask him to contact me.
Thanks.

[Chocoholic]

Oh Alex, get over yourself would you! My friend knows exactly what he is talking about when it comes to this market and all areas come to that. Did you ever stop to think that some people might be privy to information that you're not? Hmmmm didn't think so.

DSO is not a dark horse by any stretch of the imagination. Clearly you're the one who's been kept in the dark with incorrect info. There are people here that know more than you you know.

I don't think much of you. Good luck with it, I've said all I have to say on the subject. It's closed, by I think you need a serious attitude check.

[Alex1111]

I can apprectaie your upset Choc, It looks like I'm getting what I asked for and at worst 2 cheques.U must be devastated.
Regards your friend,when I say I have done extensive research into DSO
thats probably an understatement.I know 95% of all the buildings going up,the developer etc etc.I know many of the companies opening up there,have spoken to some myself,know their plans.I have also spoken to many agents about DSO,half the time I seem to know much more then them!(maybe your friend was one of them)I have also been in contact with management of DSO.Believe me when I say your friend doesnt know DSO he doesn't,take my word.4%?!I know units sold in the same building as a studio I have there that have been sold for +30%!!
Your friend is a moron,drop him and find someone else with a brain!

P.S.Can u give me your email address?when I holiday in Dubai next year I want to stay at your half price serviced appartment.Thanks xx

[onetickin]

Congratulations Alex!!

Don't let anyone tell you what the market is. Market forces will do that for you, and as it stands, it appears to be 2 cheques, and what ever your price was.

Fair, reasonable. Business certainly shouldn't give a damm, unless you're a charity case, which you clearly are not.

[Alex1111]

Congratulations Alex!!

Don't let anyone tell you what the market is. Market forces will do that for you, and as it stands, it appears to be 2 cheques, and what ever your price was.

Fair, reasonable. Business certainly shouldn't give a damm, unless you're a charity case, which you clearly are not.

Thanks onetickin.See Choc,at least someone on here isnt consumed with
jealousy!
P.S Is Nov 5th - 19th next year ok for your half price offer?could pay a deposit now?

[arniegang]

Well considering the project won't be finished until december 2009, it's impossible to say what the going rate will be. But I will be looking at the rates hotels would charge for furnished serviced apartments. It will take alot of research,because of the location, the calender of events, it will fluctuate from month to month. There will be no long term rent.

The person I am aiming at are those coming into town for short breaks, for events, business etc.

There will be highs and lows and the rates will be adjusted accordingly.

Which is different to long term fixed rents.

Chocs

You will not be getting any income from your appartment until after the first 12 months have passed. And, under the terms of your contract, if the income doesn't exceed expenditure, you will owe them money.

Why are you all giving Alex a hard time. 75k wont rent you a garbage bin in the marina.

Alex, just carry on mate. There is a flat share on here going at 3k plus utilities so your 75k sounds to be pitched about right. You may have to negotiate down so it starts with a 6 maybe if you want a quicker shift.

[arniegang]

Oh Alex, get over yourself would you! My friend knows exactly what he is talking about when it comes to this market and all areas come to that. Did you ever stop to think that some people might be privy to information that you're not? Hmmmm didn't think so.

DSO is not a dark horse by any stretch of the imagination. Clearly you're the one who's been kept in the dark with incorrect info. There are people here that know more than you you know.

I don't think much of you. Good luck with it, I've said all I have to say on the subject. It's closed, by I think you need a serious attitude check.

Chocs

And there are people who know more than your friend ya know

Your friend only knows what he chooses to tell you Chocs. Some people are gullible enough to believe the hype and some dont.

Maybe if you had listened to others 2 1/2 years ago you would be in a better position make comment now. Dont forget you were telling everyone what idiots they were buying in Dubai.

In Dec 05 when i said buy buy buy everyone including you were saying crap crap crap. Just think Chocs, on a 1 bed appartment you could have been sitting on a very nice 600-800k in your bank now