Condo short term rentals

[Toosetinmyways]

I noticed in the advert for a new condo project in Bangkok (not build yet) that units will come with a hotel license so rentals below 30 days will be legal. I wonder if this will become the norm for new condos now. Obviously they think the buy to rent market will be bigger than the buying a home to actually live in. I would not want to live in a condo with a constant stream of strangers around.

[Peterw42]

In that case you are not really buying a condo, you are buying a room in a hotel. It may even be that you cannot live in it more than a couple of weeks a year. If you do/can live in the block, you would be paying to support the hotel facilities, reception desk , booking system and staff etc.

 

You dont end up with a condo with a hotel license and you can then do short term rentals. The hotel company gets a license and you would hand over your room to them at whatever commission they choose. 

[tlandtday]

6 minutes ago, Peterw42 said:

In that case you are not really buying a condo, you are buying a room in a hotel. It may even be that you cannot live in it more than a couple of weeks a year. If you do/can live in the block, you would be paying to support the hotel facilities, reception desk , booking system and staff etc.

 

You dont end up with a condo with a hotel license and you can then do short term rentals. The hotel company gets a license and you would hand over your room to them at whatever commission they choose. 

sounds like a time share lol

[Peterw42]

2 minutes ago, tlandtday said:

sounds like a time share lol

Yes, thats what it ends up being

[BobBKK]

Condotels have been around for years. Seems fair enough!  when your buying a question is added to the list "do you have a hotel license?" if YES don't buy there (unless you want to rent it out).

[scorecard]

13 minutes ago, Peterw42 said:

In that case you are not really buying a condo, you are buying a room in a hotel. It may even be that you cannot live in it more than a couple of weeks a year. If you do/can live in the block, you would be paying to support the hotel facilities, reception desk , booking system and staff etc.

 

You dont end up with a condo with a hotel license and you can then do short term rentals. The hotel company gets a license and you would hand over your room to them at whatever commission they choose. 

 

And if it's all as described it would possibly put off buyers looking for family oriented community living.

 

So for the development company perhaps quite a risky venture;

 

- Would the land department / other authorities allow such an ownership arrangement for all the units?

 

- Would the land department / other authorities allow such an ownership arrangement in a mixed picture; some units have a 'license' to rent out monthly, some don't?

 

 

[Sanjay Jaybhay]

I think they are making a hotel where there will be many owners. Land department does not care how many owners a hotel has. 1 or 100 its the same as long as they build as per the laws. I dont think it will be like time share. In time sharing properties you dont own the property, so even if you get some return you cannot benefit from the appreciation of the property. Here buyers will also benefit from the appreciation,  besides the return they get. Such properties are for investment only , so anybody who want to buy to live for themselves should look at other condos. There are thousands of them available. Pls can you share the name of this condo and location if you have.