Buying condo Phuket and Airbnb when I'm not there.

[sureno]

Hi. I'm back and forward to Phuket and the hassle of rentals can get tiring. 

 

I'm looking at buying a small condo and for the periods that I'm not there using Airbnb (or maybe booking Dot com) for short term. 

 

I have some properties in the UK which I also do Airbnb short lets and I'm wondering ...

 

- is it allowed by the authorities here...I don't have a work permit but it would be my sole residence in Thailand. I have a non o visa. 

- if it is, do I pay tax using my UK based Airbnb account or use a new Airbnb account and pay the Thai authorities. 

- if renting is allowed, but Airbnb style is not allowed... That would be another question?

 

Thanks for any help

 

 

[OneMoreFarang]

14 minutes ago, sureno said:

Hi. I'm back and forward to Phuket and the hassle of rentals can get tiring. 

 

I'm looking at buying a small condo and for the periods that I'm not there using Airbnb (or maybe booking Dot com) for short term. 

Just for clarification: Now you don't own property in Thailand and you rent something from time to time and you think that is tiring.

And you want to change this by buying a condo and living there from time to time and when you don't live there you want to rent it out. Correct?

 

Without going into details I wonder what is so tiring for you about renting that you think buying and let other people rent your place (while you are not here) is somehow less tiring.

 

 

[ourdon]

2 hours ago, OneMoreFarang said:

Just for clarification: Now you don't own property in Thailand and you rent something from time to time and you think that is tiring.

And you want to change this by buying a condo and living there from time to time and when you don't live there you want to rent it out. Correct?

 

Without going into details I wonder what is so tiring for you about renting that you think buying and let other people rent your place (while you are not here) is somehow less tiring.

 

 

Ooooh <deleted>,  You're funny.   luv it     luv it     luv it

 

Sureno ... good luck mate  you're gonna need it.

[sureno]

2 hours ago, OneMoreFarang said:

Just for clarification: Now you don't own property in Thailand and you rent something from time to time and you think that is tiring.

And you want to change this by buying a condo and living there from time to time and when you don't live there you want to rent it out. Correct?

 

Without going into details I wonder what is so tiring for you about renting that you think buying and let other people rent your place (while you are not here) is somehow less tiring.

 

 

Renting suited me. I did it for years and years...still do in fact.  Now renting in some places doesn't suit me. But I'm sure renting still suits some. For some people buying a condo and never renting suits them. For some condo owners renting suits them. "Without going into details" . 

 

Hoping someone here got something constructive. ....

 

Anyone?

[Alldar]

I cannot help you much with your topic, just a note that AirBnB is illegal in Thailand for short term rentals (less than 30 days). Only rentals over 30 days are legal in Thailand. Be careful about that.

[sureno]

12 hours ago, Alldar said:

I cannot help you much with your topic, just a note that AirBnB is illegal in Thailand for short term rentals (less than 30 days). Only rentals over 30 days are legal in Thailand. Be careful about that.

Thanks for the heads up. Yes... Monthly rentals it would have to be.

 

I just wouldn't know where to start with paying any tax that is due....

[ChipButty]

I think it's best to carry on renting for a few years, dont forget the rental business took a dive during covid, the other thing you could do is still buy a condo and hand it over to the condo management to rent it out for you, 

There are many things to take into consideration what do they say "Buyer Beware"

 

[paahlman]

Its not a problem.. If you want to do it correct its 12% tax on rental income.. Collect all the rental reciepts from airbnb and deliver to an accountant. Its not expensive to file that.. My guess is 6000 baht. However.. Some people just rent out and never report. The idea is to continue until its a problem. It might never be or it might. Its not difficult as people say here.. Its just to do it., but beware of the rental income tax and you will be fine and not dissapointed.

 

[wombat]

i cant see any problem with what you say..could be easier if you put it in your girls name and let her handle the booking money for you

[bwanajohn]

I was unaware that Airbnb was illegal in Thailand for less than 30 days.

Is that not a bylaw off some condo regulations .

A Thai lawyer also told me foreigners operating Airbnb's in Thailand not legal.

Perhaps if renting for less than 30 days.

My suggestion is that you speak with a lawyer..I just had a conversation with my lawyer about foreigner's having rental income here Airbnb ...booking .com and ordinary tenant situations.

If the money goes into a foreigners bank account it's as usual not technically legal in some instances . 

 

 

 

[Unify]

Perhaps you won't consider this constructive, but I'm renting what I consider a nice condo in Phuket. Good price right now. I see a few people coming and going with suitcases. I'm guessing it's Airbnb. But I'd estimate 20% or less occupancy.

 

My floor has 30 units, I think. It has been a week since I've seen anyone on my floor, except staff.

[skatewash]

My vague understanding is that to rent someplace for a period of less than 30 days one would need to have a hotel license to be legal.  I may be wrong but you should try to find out if that's true or not.  Also my understanding that some condos operating under the Condo Act don't allow rentals for periods of less than 30 days.  Again something to find out before you buy, I would think.

Finally, one might imagine you would want to follow the immigration rules that require they be notified whenever you have a foreigner living in your condo overnight by filing a TM-30 (online would be OK).  Also, if renting to a foreigner you might expect them to ask you at some point for a copy of your tabian bahn (blue house registration book) for the condo, a copy of your passport, and a copy of the rental agreement, so that they can do things they might need to do at immigration like file a 90-Day Report, get a Certificate of Residence, extend their extension of stay using your condo as their official address.

[sureno]

49 minutes ago, Unify said:

Perhaps you won't consider this constructive, but I'm renting what I consider a nice condo in Phuket. Good price right now. I see a few people coming and going with suitcases. I'm guessing it's Airbnb. But I'd estimate 20% or less occupancy.

 

My floor has 30 units, I think. It has been a week since I've seen anyone on my floor, except staff.

Hi. Thank you. Yes I see the same thing where I am in my place, sparse of people. I wouldn't be able to manage the short stay rentals anyway, and I'd probably just give the condo managers a % to manage the coming and goingn for people wanting 1 to 3 months for example. It would just be a way of getting a small return on my cash outlay.... Nothing special. 

[sureno]

15 minutes ago, skatewash said:

My vague understanding is that to rent someplace for a period of less than 30 days one would need to have a hotel license to be legal.  I may be wrong but you should try to find out if that's true or not.  Also my understanding that some condos operating under the Condo Act don't allow rentals for periods of less than 30 days.  Again something to find out before you buy, I would think.

Finally, one might imagine you would want to follow the immigration rules that require they be notified whenever you have a foreigner living in your condo overnight by filing a TM-30 (online would be OK).  Also, if renting to a foreigner you might expect them to ask you at some point for a copy of your tabian bahn (blue house registration book) for the condo, a copy of your passport, and a copy of the rental agreement, so that they can do things they might need to do at immigration like file a 90-Day Report, get a Certificate of Residence, extend their extension of stay using your condo as their official address.

Thanks. I don't have a problem with any of that, and I wouldn't be bothering with short term.  

 

What I like about Airbnb is that it takes care of the cash transactions and the marketing, which works just fine for long stays as well as short. 

[khunPer]

On 12/28/2021 at 7:58 AM, sureno said:

- is it allowed by the authorities here...I don't have a work permit but it would be my sole residence in Thailand. I have a non o visa. 

- if it is, do I pay tax using my UK based Airbnb account or use a new Airbnb account and pay the Thai authorities. 

- if renting is allowed, but Airbnb style is not allowed... That would be another question?

 

Thanks for any help

My knowledge from other posts and news articles is that only 30-days or longer rentals are allowed when using Airbnb.

 

The landlord need to submit TM30, so you might need an agent, or like, to take care of the rentals, check-in and check-out, cleaning etc.

 

Some condo blocks already has a rental service in place and can take care of everything for you, but the of course charge a commission, or they just pay you a share of rentals, when you don't use the condo yourself.

 

In my modest opinion I would seriously considers if it's worth the hassle, compared to be a free bird and just rent. Din't regard buying property in Thailand as an investment, some are lucky, many are happy just to get their money - or some of their money - back, all depending of the time frame, and location of the property...????

[sureno]

2 hours ago, paahlman said:

Its not a problem.. If you want to do it correct its 12% tax on rental income.. Collect all the rental reciepts from airbnb and deliver to an accountant. Its not expensive to file that.. My guess is 6000 baht. However.. Some people just rent out and never report. The idea is to continue until its a problem. It might never be or it might. Its not difficult as people say here.. Its just to do it., but beware of the rental income tax and you will be fine and not dissapointed.

 

Thank you. I'm pretty sure it would be easy to slip through without paying but it's not my style, especially for 12pc. The biggest barrier is finding out how to actually pay it....I will need to find a local small scale accountant. 

[UKJASE]

i bet if you look on airbnb website you will see plenty of condos offering to you to rent for less than 30 days

 

and you could send the owners a private message and ask them for advice.  i am sure some would help you

 

good luck.  i just bought a condo and was gonna do airbnb, but put it on facebook and someone took it for 9 months, so dont have to worry about it for a while

 

if you do find out much from airbnb owners, post it back on this thread for the others ????

[OneMoreFarang]

16 minutes ago, UKJASE said:

i bet if you look on airbnb website you will see plenty of condos offering to you to rent for less than 30 days

There are lots of things in Thailand which are illegal but are widely tolerated - until they are not tolerated anymore.

 

It might be that i.e. lots of people rent out apartments in a condominium for less than one month. And this might go on for a long time. But then maybe one day someone influential enough decides enough is enough and from that day on the rules are enforced.

Then the argument: "but everybody did this since forever" won't help.

[Martin Brit]

On 12/28/2021 at 7:15 AM, OneMoreFarang said:

Just for clarification: Now you don't own property in Thailand and you rent something from time to time and you think that is tiring.

And you want to change this by buying a condo and living there from time to time and when you don't live there you want to rent it out. Correct?

 

Without going into details I wonder what is so tiring for you about renting that you think buying and let other people rent your place (while you are not here) is somehow less tiring.

 

 

Buy and rent a house in your own country where you understand the market & the law. You know you can sell it, you know it will increase in value. Holiday condos usually drop in price and when they get older nobody wants them. That's what I do. No way would I buy abroad.