Airbnb / Short Term Rentals: What’s your experience renting out your property?

[LaosLover]

In my nabe, a lot of decent condo's and serviced apartments are not on google maps. You have to walk around and find them. Call it 20% off by cutting out the AirBnB middle man.

[Capitalist]

8 hours ago, LaosLover said:

In my nabe, a lot of decent condo's and serviced apartments are not on google maps. You have to walk around and find them. Call it 20% off by cutting out the AirBnB middle man.

How do you recognize a building for being a serviced apartment?

[Northstar1]

I’ve rented Airbnbs aplenty, as far as being charged for illegal business?

????????????????

I’ve read about this for years! Nothing happens.

the owners simply tell me, if anyone asks, you’re my friend, I am not renting to you.

no law against friends or family staying at your place!

BTW, I always respect the property as if it were my own. And also the neighbors.

[Operator2002]

On 2/19/2023 at 7:08 AM, LaosLover said:

Serviced apartments seems to be that category. They seem a little cheaper than AirBnB since you will tend to deal directly with the property... 

I think Serviced Apartments are more expensive than Airbnb because they also include some services - for example, weekly change of linen. The water/electricity tariffs are usually also higher than in normal condo/airbnb. But Serviced Apartments are usually better equipped. 

[ChintaHuma]

 

On 2/19/2023 at 2:51 AM, intheheartoftheheart said:

I'm bored with any place on Earth after 90 days...

I used to be like that. I was a digital nomad without reading Makimoto's book "Digital Nomad".  I started my travel after reading Tim Feriss's 4-hour work week in 2008 and continued till 2019. Covid put a break in my travel and from there my life  started going downhill. Google tells me I have visited 80 cities in three continents. Now I don't have any enthusiasm for travel anymore.  

[bkk6060]

The agents I know say things are busy.  Especially in Phuket and Pattaya.  Sales and rentals way up.

This place has not been back open for very long.  China just opened. 

As opposed to others, I see a real estate boom coming over the next few years and location is key

[SuperSilverHaze]

Don't buy! I've recently changed condos and the search was a true eye opener. The build quality is abysmal in nearly all condos. We looked at many condo often seen on popular sites. The buildings are a mess. I'd hate to think what they will look like in 15 years. Slums.

 

The condo we have taken is a mere 200m from mrt. The building is simple lacking pool, fitness is closed. Interior of building falling apart quite literally (10+yo). Inside the condo problems...gas smell (poorly designed trap), poorly designed throughout. We decided to take it mainly due to mrt location. It's livable but that's about it. We got this condo without a bed and TV offered for 10k (43-5sqm?) but owner immediately jumped at my 9k offer to pay one year, one time.

 

So, owner must be underwater on the property loan imo. Cannot sell for price purchased. Moreover, 9k on 30 year won't cover the monthly unless a huge chunk of money was put down - doubtful. Looking at first electric bill with back record seems the place has been empty for months. Lift and security simple. Looking inside the condo and next door their are many abandoned condo units.

 

Next, share another experience. I've been looking to buy a condo to live for a decade and I thought I found it. The wife ultimately nixed the deal and for good reason as it was too small (43/46sqm). Buying, we need 55sqm we think. Anyway, the sellers almost came down to my price which was a reduction of 300k and they'd pay all taxes on their side. It was too small discount and the face saving counter-offer I wouldn't accept. It was a nice condo, building under minor repairs by upper pool. I disliked the lobby intensely but it was clean, nothing in disrepair. On top of mrt. No one is going to buy that condo for the ask. We saw many condos in the building, all way overpriced and many abandoned.

 

During our search I saw all sorts of horror. One building a water pipe broke and damaged the floor we were on. No idea above, below. Another few looks like JO just abandoned building, took money and ran.

 

You will struggle to rent regardless but this economy is sick and won't get better for years given domestic and international economics. Rent long term, you're not interested as it's a place for you. So, do you really want to rent your place to a bunch of Israeli backpackers or Romanian gypsies, Russian drunks, messy Chinese???!

 

This search made me a true believer - never buy.

 

 

[SuperSilverHaze]

29 minutes ago, ChintaHuma said:

Now I don't have any enthusiasm for travel anymore.  

The world has become a big shopping mall. I think the adventure is largely gone.

[SuperSilverHaze]

On 2/16/2023 at 10:56 AM, Capitalist said:

Those are strong words. Why exactly do you think the Thai property market is “heading for a 2008 US type disaster”? 

The only thing underpinning housing and the entire house of cards is Thais with jobs servicing condo debt. Everyone maxed out, a severe downturn... renters will continue to relocate down-market, owners can't sell old condos. Banks don't declare bad assets. We have yet to get the real brunt of recession and inflation

 

It is practically impossible for Thais to declare bankruptcy otherwise the implosion would have already occured imo.

 

Putting all this aside the sqm valuations are dropping slightly but not nearly enough to make it worth while. We certainly cannot call it an investment. There is no roi.

[SuperSilverHaze]

On 2/16/2023 at 7:45 PM, Tubulat said:

harass your guests.

I would definitely do this but now I'm living in a condo that perhaps had few Abnb but post Covid none seen so far.

 

I don't need to hear people arriving and departing daily. The noise in halls, excessive lift use, not disposing trash properly. Drunkenness, vomit.. cigarette smoking... Lowers my quality of life

 

Fact is guests will treat the condo as a hotel. Full stop

[SuperSilverHaze]

23 hours ago, Capitalist said:

How do you recognize a building for being a serviced apartment?

Usually says out front.

[SuperSilverHaze]

On 2/18/2023 at 12:39 PM, LaosLover said:

What satisfaction comes from this?

It's not about satisfaction. They don't belong. Private building.

 

The law isv in place because of the myriad of reasons living and dealing with renters sucks. Moreover, there are hotels, gh perfectly suited but they can stay in bnb condo for less. So there's the driver.

 

The only time we use Abnb is when the hotels are simply ridiculously priced, not in Thailand that's for sure. I prefer hotels and not dealing with quirky owners especially if they are in the domicile same time (house, upper floor, etc). I really hate it. The ripoff cleaning fees and sundry charges often nrsrlas expensive as hotel anyway

 

Thailand has great hotels and gh use them

[Capitalist]

On 2/22/2023 at 12:47 AM, SuperSilverHaze said:

The only thing underpinning housing and the entire house of cards is Thais with jobs servicing condo debt. Everyone maxed out, a severe downturn... renters will continue to relocate down-market, owners can't sell old condos. Banks don't declare bad assets. We have yet to get the real brunt of recession and inflation

 

It is practically impossible for Thais to declare bankruptcy otherwise the implosion would have already occured imo.

 

Putting all this aside the sqm valuations are dropping slightly but not nearly enough to make it worth while. We certainly cannot call it an investment. There is no roi.

Agree with the last sentence. When buying a condo in Bangkok for “invesment”, you need to expect pain and losses. But as I mentioned before, I don’t want it as an investment. I want to have a second home, a vacation home, not pay rent, and redecorate it completely to my own taste without having to ask the owner. I want a place for the next 10yrs. I’d be happy if I could sell it at the same price 10yrs from now.