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Posted

Assuming that i owned a number of properties,i would close the majority down and weather the storm.Then i would concentrate on just a select few in the busier places.What i certainly would not do is leave them to get rundown etc.That to me means problems, i.e Financial,Monkey house ,or even Death / Ghosts !

But Hey......Thats just me. ????

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Posted
11 minutes ago, ukrules said:

I've seen places sit empty for years because a stubborn owner is holding out for a specific price which nobody will ever pay.

That's a good way to lose income.

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Posted
13 minutes ago, how241 said:

That's a good way to lose income.

Yes, not only that, he increased the rent from 25k a months to 35k a month even though it had sat empty for a year at the time.

 

The previous tenant had requested a rent reduction from 25k to 20k which was refused, that's when the madness started.

 

I find it hilarious, now COVID's here it's worthless

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Posted
35 minutes ago, ukrules said:

I've seen places sit empty for years because a stubborn owner is holding out for a specific price which nobody will ever pay.

Every year they put the rent up

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Posted
1 hour ago, Lacessit said:

I've been a landlord. Good and bad tenants. Assuming I was a landlord in Thailand, I'd be trying to sell whatever property I had so it could be someone else's problem.

I'd agree with the concept that some rent is better than nothing.

Not easy to sell at the moment

Posted

I know of a landlord who has a row of shops 6 in total all full paying rent until lockdown I know from one of the tenants he would not do a deal, 5 of them shops are empty and have been for a while

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Posted
48 minutes ago, ChipButty said:

Not easy to sell at the moment

True enough, I have a friend in CM who was trying to sell a property for five years, only closed the deal a couple of months ago.

Posted

Its much more prudent to shut down the Rentals rather than reduce Rents.

Reduced Rents will only give more wear and Tear to the Properties which require repairing 

 

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Posted

Actually and to be fare Thailand for the large extant, has  escaped the brunt of the Covid mayhem and people staying home and not working and the damage to real industry is miniscule in comparison to other countries so for for tennant to use this excuse to ask for a lower rent is unfair... unless the said tennant is genuinely suffering a hardship...

Posted

A row of townhouses next to me are sitting empty. 

 

But they've sat empty since they were built 5 years ago. 

 

Only up for sale at an overpriced amount, not for rent.

 

 

So, 5 years of earning 0 on a 20 million baht investment. 

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Posted
28 minutes ago, ezzra said:

Actually and to be fare Thailand for the large extant, has  escaped the brunt of the Covid mayhem and people staying home and not working and the damage to real industry is miniscule in comparison to other countries so for for tennant to use this excuse to ask for a lower rent is unfair... unless the said tennant is genuinely suffering a hardship...

 

That argument kind of falls apart when it comes time to renew the contract and the tenant knows there's a much better apartment available in the same building for the same price as the current unit....

 

Or even worse, an identical unit for considerably less.

 

Posted
27 minutes ago, JeffersLos said:

A row of townhouses next to me are sitting empty. 

 

But they've sat empty since they were built 5 years ago. 

 

Only up for sale at an overpriced amount, not for rent.

 

 

So, 5 years of earning 0 on a 20 million baht investment. 

Seems top be the "Thai way" I'm afraid!

Posted

Guess not. Here we have shops, all empty, standing idle. Bigger shops moved to smaller locations or combine with other shops to reduce costs. Meaning price is too high, and no reductions by "landlord". It looks better to have them empty.

In China they made complete ghost cities, no one goes there, too expensive. See youtube.

There are more of those places. 

In Phillipines you have a big mall with tourist like area, not working. Just about 5 shops and all other shops closed, empty.

GUess those shops will be closed now as  well.

Looks like they choose better empty then some money anyhow. So also with houses?

Posted

Having been a managing agent in a past life there is a thing called the market. Have been through all of the landlords that would not reduce their rent  when things turned bad. If you have an investment the number one priority is cash flow. No cash flow, no profit.

But then you look at the other side of the coin, especially for commercial property where "value" is a multiplier of the net income. Reduce the rent, reduce the value. But that is for the professionals to worry about.

With residential property value is not so much tied to return, so many other factors come into it. So if you have an investment it all comes back to cash flow, as you have no control over the value to a buyer and it is he who determines how much cash you receive if you need to sell.

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