Swimming Pool Rental Premium

[Airalee]

18 hours ago, Gabe H Coud said:

im with you all the way re different market now

 

but in all seriousness do you have any actual 'evidence' of rentals dropping? Have you or friends renewed leases on houses/condos at say 20% less than before? Or can you refer me to any articles re (for example) Bkk/Chiang Mai rents dropped 19% in the last quarter.

 

Anything like that would be really useful for my purposes. 

 

The main population centres are of most interest to me( as you say long term expat rentals)

 

thanks all

I lived at Punna Residence 4@cmu from 2012-2014.  Paid 14k.  Similar units can be had for 12k. The units renting for 20k are now listed at 15k

 

Friend lived at Mountainview.  Paid 15k during the same period (negotiated down). Same units are now asking 12k (would probably take 10-11k)

 

Resort Condo out on Canal Road used to get 25k for 80sqm 1br units.  Just saw one listed in the Chiang Mai condo Facebook group for 15k.

Liv@Nimman used to go for 18-25k. Can now rent one for 15k

 

Nimmana used to start at around 18k now have units listed at 13k

 

Friend used to manage Palm Springs Nimman. Used to start at 15k. Now have units asking 12k

 

Twin Peaks and Peaks gardens asking prices seem to be holding fairly steady

 

Unique@Nimman was 25k starting when I looked in 2012 (way overpriced) now can get one for 16k

 

Unique@Koo Mueang wanted 25k now asking 18k.

 

 

i now live in BKK on Sukhumvit near Phra Khanong BTS.  My landlord (owns 13 units) has had to lower his rents approximately 20% 35k units are getting 27k and formerly 16k units are now 12k.  It’s the same all over.

 

I’m a bit of a real estate geek (was a housing bubble blogger from 2005-2009) and have followed prices quite closely.  Recently purchased a condo (contract) in BKK for almost 25% less than the original 2016 contract price.
 

 

 

 

Edited August 3, 2020 by Airalee

[Gabe H Coud]

7 hours ago, Airalee said:

I lived at Punna Residence 4@cmu from 2012-2014.  Paid 14k.  Similar units can be had for 12k. The units renting for 20k are now listed at 15k

 

Friend lived at Mountainview.  Paid 15k during the same period (negotiated down). Same units are now asking 12k (would probably take 10-11k)

 

Resort Condo out on Canal Road used to get 25k for 80sqm 1br units.  Just saw one listed in the Chiang Mai condo Facebook group for 15k.

Liv@Nimman used to go for 18-25k. Can now rent one for 15k

 

Nimmana used to start at around 18k now have units listed at 13k

 

Friend used to manage Palm Springs Nimman. Used to start at 15k. Now have units asking 12k

 

Twin Peaks and Peaks gardens asking prices seem to be holding fairly steady

 

Unique@Nimman was 25k starting when I looked in 2012 (way overpriced) now can get one for 16k

 

Unique@Koo Mueang wanted 25k now asking 18k.

 

 

i now live in BKK on Sukhumvit near Phra Khanong BTS.  My landlord (owns 13 units) has had to lower his rents approximately 20% 35k units are getting 27k and formerly 16k units are now 12k.  It’s the same all over.

 

I’m a bit of a real estate geek (was a housing bubble blogger from 2005-2009) and have followed prices quite closely.  Recently purchased a condo (contract) in BKK for almost 25% less than the original 2016 contract price.
 

 

 

 

Great info thanks Airalee

[STD Warehouse]

Lets just assume that a pool adds value in the form of a higher rent, then I can see two ways to work out the rental increase, relative valuation or yield return on investment.

 

1. search facebook rental groups for properties that are very similar and compare prices with and without pools and compute the % increase for those with a pool.

 

2. (my preferred choice), Investments are usually about either capital growth or income yield. So if a pool cost 1m baht to build then its reasonable to want a 4.5% return on the investment which is 45,000 baht per year, which is 3,750 baht monthly rental increase, which maintenance charges an extra for tenant.

 

We own several houses that we rent to long term tenants and im still undecided if a pool is a good idea, for us its more the maintenance issue than anything else. Most of our houses require very little work day to day and a pool would change that.

[Gabe H Coud]

On 8/9/2020 at 8:36 AM, STD Warehouse said:

Lets just assume that a pool adds value in the form of a higher rent, then I can see two ways to work out the rental increase, relative valuation or yield return on investment.

 

1. search facebook rental groups for properties that are very similar and compare prices with and without pools and compute the % increase for those with a pool.

 

2. (my preferred choice), Investments are usually about either capital growth or income yield. So if a pool cost 1m baht to build then its reasonable to want a 4.5% return on the investment which is 45,000 baht per year, which is 3,750 baht monthly rental increase, which maintenance charges an extra for tenant.

 

We own several houses that we rent to long term tenants and im still undecided if a pool is a good idea, for us its more the maintenance issue than anything else. Most of our houses require very little work day to day and a pool would change that.

sorry only just seen this....

 

so as an Owner of such properties, what annual or monthly maintenance costs are you looking at to upkeep a standard size 8 x 4 m pool that is typically found with a 3 bed villa?

 

Because as you know almost always maintenance is by the Owner and is included in rent, That way he can be assured his equipment is being properly cared for 

 

look forward to hearing 

[STD Warehouse]

@Gabe H Coud

 

Maintenance is about 80 baht per day for some dude to come round and spend 2 minutes checking the pool water quality. Pretty expensive coming out at about 2,500 baht per month. You need to add this to the rent and not break it down for the tenant as unless it's a high priced property with deep pocket tenants, most tenants wont like the extra charge.