Renting out Condo in 2015

[Piet999 0]

Hello All,

 

I am 46 years, and own 4 condos in Pattaya in primary locations, being 2 beach front units (with sea view) in Wong Amat and 2 units beach front units in Na Jomtien (no sea view).

 

These condos are purchased for long term rental (starting 6 months).

 

Currently my condos are listed with about 10 agents, amongst whom the biggest names in Pattaya.

However, sofar I did not receive any question from any agent.

 

My question:

- What should I do more to receive serious interest of agents / potential tenants ?

- How to find serious tentants for long term rental in Pattaya ?

 

Many thanks - I appreciate everybody's viewpoint and answer.

Piet

 

 

 

[harro1 256]

You need to be realistic on price. Long term renters look for value and there are so many available places out there. Also there is no high or low season for long term renters. A lot of people don't care enough about a view to pay any more for it. The same with the beach, not many people would go often enough to make them willing to pay more to be right on it.

 

Say you are thinking your condo is worth 25,000 a month, maybe try for 20,000. If it's rented year round you are down 60,000 on what you thought you should get for it. If it's vacant for 12 months then you are out 300,000 on what you were hoping for.

[vioner 0]

To the average foreigner in Thailand 25,000 baht is not really that much. Any thoughts on Phuket condo property market that you'd like to share? I've heard it is one of the most opportune times to buy real estate there. Buying a 1/2 bedroom apartment near Kata Beach in a quiet, non-touristy area (one of these at http://phuket9.com/vip-kata-condominium or the similar project are perfect!) has always been an attractive option for me, since my girlfriends's family lives there. My plan is to make a good long term investment. Due to many concerns (safety, price market, neighbourhood, laws, etc), do you think Phuket is still a good place to live and invest?

[jacko 8,814]

Most people on this board have better knowledge of Pattaya than Phuket, but look at Thailand as a whole.

Current political position and likely future events should be on your mind.

[Gary 4,119]

Something to keep in mind are government regulations which up to now have been totally ignored. You are supposed to keep the government informed as to who is living in your condos and pay income tax on the rent money. If/when the government starts enforcing these regulations, there will be a lot of problems for the owners. When my last renter moved out, I have not rented it out since then.

[SlipSlopSlap 186]

Here's a thought...

 

Become a little bit active on a pattaya board.

 

(Post more than once!)

 

Post some links, some pictures, some discussion of your properties...

 

Put them out there!

[Curmudgeon 0]

Try reducing your time restriction to 3-6months..I believe there is a untouched market. Im presently finishing alease for 5months at 57k/mnth and am looking for a 3month....

[sinbinjack 251]

Hello All,

 

I am 46 years, and own 4 condos in Pattaya in primary locations, being 2 beach front units (with sea view) in Wong Amat and 2 units beach front units in Na Jomtien (no sea view).

 

These condos are purchased for long term rental (starting 6 months).

 

Currently my condos are listed with about 10 agents, amongst whom the biggest names in Pattaya.

However, sofar I did not receive any question from any agent.

 

My question:

- What should I do more to receive serious interest of agents / potential tenants ?

- How to find serious tentants for long term rental in Pattaya ?

 

Many thanks - I appreciate everybody's viewpoint and answer.

Piet

 

 

 

As has been said be realistic in what you are asking , what are you asking ?, what sort of quality are the buildings and how well are they furnished what services are provided, Someone said that 25000 baht is not a lot for westerners in Pattaya , but 25000 baht for a condo is a lot more than many people pay , with most condos I see advertised on here being half that, or even less, for long term. Jomtien seems even lower in price as well as not being very sought after by short time renters. If you advertise them on the forum you will get an immediate response ,but not one you would necessarily like.

[Idefix 2,275]

They started recently to control short term condo renting in Bangkok...

Now it's the Provincial Land Office in Phuket who warn owners... and airbnb...

Pattaya next ?

 

Phuket condo owners warned 'holiday rentals' less than 30 days risks fines, jail time

Today, there is a lot of news about condominium developers/owners renting out rooms or buildings that they have ownership of to foreigners or tourists on a daily basis (daily rental) rate that generate income as if they were a hotel (under the Hotel Act 2004).

This type of operation is causes a public nuisance for renters in the same complex and creates unsafe places for tourists, which may lead to loss of life and property. It is inacceptable to operate an illegal hotel. The penalty for this is up to one year in jail or a fine of up to B20,000, or both.

http://www.thephuketnews.com/phuket-condo-owners-warned-holiday-rentals-less-than-30-days-risks-fines-jail-time-58095.php#zRrXQBF9r50AJMg8.97

[Nightrider 340]

East Pattaya is the area a lot of ex pats are renting in more and more , the Dark Side is very quiet and civilised compared to Pattaya central and you can get really nice rentals of 4 star quality for around the 15000 b mark and that's with the electric and water charges inc , and its only a short journey by car / bike into Pattaya......!

[jacko 8,814]

East Pattaya is the area a lot of ex pats are renting in more and more , the Dark Side is very quiet and civilised compared to Pattaya central and you can get really nice rentals of 4 star quality for around the 15000 b mark and that's with the electric and water charges inc , and its only a short journey by car / bike into Pattaya......!

Well you might have to pick the time on that one.

Yes quiet at the moment, but I have seen Soi Siam CC backed up for a good Km heading towards Suk, and it can become stationary at the railway line junction.What happens is Expats learn when to not go into town, and do so less.

[Fatboyfat 361]

I haven't really noticed much in the way of "less than 30 day rentals" going on in the darkside, although I'm sure it goes on. This legislation & warning is aimed more at the likes of "Dancewatcher's" and other's set ups in the various View Talays etc.

[GulfportBob 1]

I will be arriving on November 21 for 4 months. What price range are you in, if one is available?

[Gary 4,119]

The last time I rented out my condo, I was getting 9,000 baht a month. That was for a 60 square meter unit with a separate bedroom. My renter was a friend of mine and asked why I quoted such a low rental price. I told him that I wanted him in the condo and wanted to make it so he really couldn't afford to move. That also had benefits for me. He took care of any maintenance problems and never complained.