What's the going rate for someone to look after your Airbnb property?

[ChipButty]

5 minutes ago, Eaglekott said:

Not sure why you compare AirBNB with 5 star hotel? Maybe a normal Bed And Breakfast would be a bit more correct.

I think you are wrong lots of villas are way above a normal B&B especially where I live 

[Badger18]

There are Airbnbs right across the range, same as hotels. IME they're a lot cheaper for roughly the same standard of accommodation but anyway it's not just about the price. A lot of it comes down to how much you want a place that feels like home from home (as opposed to living in a hotel) and especially how much you want a kitchen.

[Fairynuff]

On 6/19/2021 at 2:24 PM, Badger18 said:

Thanks. I don't think I'll have a problem over the legality of Airbnb in the block I have in mind. It'd be a long-term thing so I'm not too bothered about the fact that rates are currently low and demand is slack - this also means I'll get the place fairly cheap. Just the cleaning is 500 if you have it done through the condo management so 200-300 seems low to me, but I guess it just shows how much the management are creaming off. Saying that it's more than just a maid's job - the person has to pick up / deal with any damage, check nothing's missing / no longer working, make sure the stuff that's been put away is clean etc. I would not see the place myself so would be counting on them to do a decent job.

I’m a very strong advocate of property ownership here. BUT expecting to make money on rentals, particularly short term rentals when you’re not even going to manage it.... you’re on a road to nowhere. I strongly advise against it. 

[Badger18]

6 minutes ago, Fairynuff said:

I’m a very strong advocate of property ownership here. BUT expecting to make money on rentals, particularly short term rentals when you’re not even going to manage it.... you’re on a road to nowhere. I strongly advise against it. 

I'm really looking at it from the POV of the new visa that allows you to buy land (i.e. a real house) but requires you to spend $500k on property in Thailand (could include a condo). I don't want / need to spend anything like that much on a house so am looking at parking the rest somewhere. It doesn't need to be the world's best investment and if it generates some work for a local that's a plus. OTOH it shouldn't be the world's worst investment either...

[SomchaiCNX]

This a perfect example about how wonderful these rules in Thailand are. People living in a foreign country are allowed to buy a condo and can operate illegal business while somebody who owns a legal business in Thailand with a work permit is not allowed to buy the same condo legally with the money he earned in Thailand. The money has to come from abroad and you need a foreign exchange certificate. 

[Fairynuff]

3 hours ago, Badger18 said:

I'm really looking at it from the POV of the new visa that allows you to buy land (i.e. a real house) but requires you to spend $500k on property in Thailand (could include a condo). I don't want / need to spend anything like that much on a house so am looking at parking the rest somewhere. It doesn't need to be the world's best investment and if it generates some work for a local that's a plus. OTOH it shouldn't be the world's worst investment either...

I understand your point but IMO buying property for rental investment is very rarely good in this country. Regarding the visa.... it hasn’t happened yet, and likely never will

[from the home of CC]

I was haunted by bnb renters for a while till I set up speakers against the wall to blast them till they move (doesn't even have to be that loud, walls are thin). Somebody must of put a snarky review in for it's been empty for a while (two years before covid and now almost a couple more). In the meantime, I bought larger speakers in case cheap tourists come back but like someone said earlier, good hotels will be reasonable for a while and perhaps the hotel association will apply enough pressure to shut down this illegal industry for good.  

[Rampant Rabbit]

11 hours ago, Badger18 said:

Thanks. I usually rent monthly and pay 30-40k. There doesn't normally seem to be any shortage of takers at that price point - in fact the apartments are quite often unavailable when I try to book. Different at the moment, obviously. Without the monthly discount those same places come in around 10k/wk. The ROI is acceptable with servicing at 25% but I'll have to find out about the building charges.

Good  luck finding ANYONE who wont  pull  some type  of scam on you, had an American guy leave  a key with an  condo agent here and as soon as he was  back in America she rented it  out without telling him, honesty............missing in Thailand

Having rented out condos  for 15  years the only REAL way is to do it  yourself or as in my case leave the Wife to it, anyone else acting on your  behalf is a  disaster waiting to  happen.

 

[Badger18]

2 hours ago, Fairynuff said:

Regarding the visa.... it hasn’t happened yet, and likely never will

Yeah a lot of these proposals never come to anything, that's true. I still like to keep an eye on things though, and if something looks promising I'll try and work out whether it's practical. This one looks marginal at best. I think they've pitched the requirement too high anyway - I'll just have to hope it comes down if and when the proposal is approved, and the need for an investment property on the side goes away.

[newnative]

     As others have already mentioned, renting short-term is illegal.  I find myself wondering why you would do something illegal for such a small profit.  Have you ever heard of any hotels of one room?  Me, neither.  Likely because there would be such a small profit it wouldn't be worth the bother.

     Basically, you'll be running a one room illegal hotel.  As others have also already  mentioned, your estimate of 10,000 baht a week for your one room illegal hotel is wildly over-optimistic.  But, let's say for arguments sake that you do manage to rent your room and you gross 40,000 baht a month.  Then, you start your deductions:

     Paying someone to clean the room

     Paying someone to check in and out your illegal guests

     Paying the monthly condo maintenance fee

     Paying the monthly electric bill

     Paying the monthly water bill

     Paying the monthly internet bill

     Paying the monthly cable tv bill

     Paying the condo insurance fee (likely yearly, prorated monthly)

     Paying for breakage, theft, and regular replacement for items through wear and tear

     Paying any Airbnb fees

 

     After all the deductions, you're likely left with squat.   And, less than squat if your rentals aren't good for the month--which certainly can happen.  You still have to pay many of these fees even if nobody shows up.  Haven't even mentioned all the likely headaches with dealing with multiple short-term illegal renters.  Can't imagine why anyone would want to put themselves through this.   In your shoes, I'd look for a condo to buy that is more suited to long-term legal tenants.  

      

[bwpage3]

16 hours ago, Badger18 said:

I'm really looking at it from the POV of the new visa that allows you to buy land (i.e. a real house) but requires you to spend $500k on property in Thailand (could include a condo). I don't want / need to spend anything like that much on a house so am looking at parking the rest somewhere. It doesn't need to be the world's best investment and if it generates some work for a local that's a plus. OTOH it shouldn't be the world's worst investment either...

And what is your plan for when Thailand changes the rules to ZERO AirBNB's?

[NCC1701A]

On 6/21/2021 at 10:19 AM, Badger18 said:

Plus with Chinese guests (or Russian, I guess) there would be a language barrier if anything slightly complicated did come up.

yes which is why Chinese will rent from other Chinese. As you can see all over AirBNB listings in Chinese that clearly state "we only rent to Chinese people" for these illegal short term rentals.