First of all. Don't need to tell me that Airbnb is technically illegal in Thailand! I kinda know that.

 

I wonder if it's really that profitable to buy a condo in Thailand to Airbnb it, considering the current property prices. The ROI seems not to be very high. There are plenty of Airbnbs for 1000 baht or under, which makes it hard to make a real profit. Thailand is known for it's cheap accommodations, and the only way to make good money here is to aim at a higher-end segment. But again, what would be ROI for a higher-end condo? In my opinion, there are much better options around the world (or even within South East Asia) to invest in the Airbnb business. For example, Vietnam, where Airbnb short-term rentals are more expensive than in Thailand, while property prices may be lower.

In Thailand short term Airbnb rentals are illegal.  There could be a crackdown, or you could be dobbed in to the police by a disgruntled neighbour.  Is it work the risk?

9 minutes ago, Foxx said:

In Thailand short term Airbnb rentals are illegal.  There could be a crackdown, or you could be dobbed in to the police by a disgruntled neighbour.  Is it work the risk?

 

I'm not even talking about this. I'm talking only about the financial aspects. Maybe it's not even worth it even from the financial perspective.

 

As for the "illegality", there is an obvious solution. Make a 1-month contract with every guest with a clause allowing early cancellation.

I can think of an infinite number of safer, more profitable investments than an AirBnB in Thailand......seriously....don't do it.

Just now, Will B Good said:

I can think of an infinite number of safer, more profitable investments than an AirBnB in Thailand......seriously....don't do it.

 

Like what?

2 minutes ago, JoseThailand said:

 

Like what?

yeah, I would like to know that too... my wife has done great w/buying farm land - - but.. no cash flow - the family farms it - but but but

 

I went to look at a house to possibly purchase - there were Air bnb customers there... it was a hot day - doors were wide open and a/c on full blast - the electric billl must have been enormous... 

3 minutes ago, Will B Good said:

I can think of an infinite number of safer, more profitable investments than an AirBnB in Thailand......seriously....don't do it.

 

Rental business has always been one of the "safest". The only thing is to find properties with good ROI.

5 minutes ago, JoseThailand said:

 

Like what?

Heavy finance 12%, LendInvest 8%, Cryptos 100% plus, Trackers .......eggs and baskets.

There was a thread like this a few months ago in this forum. Maybe look it up. 

9 minutes ago, 1FinickyOne said:

my wife has done great w/buying farm land

Giving your wife your money to invest in land. What could go wrong.

2 minutes ago, mokwit said:

Giving your wife your money to invest in land. What could go wrong.

So far, nothing wrong - been doing it for over 20 years... I have been doing terrific through the years with stock market - - and she might even be doing better with her land investments... 

 

I am proud of her acumen. And no, once I give her money, it is no longer my money. I know that - - - "you just remember this, a gift is just a gift, a smile is just a smile,"

1 hour ago, JoseThailand said:

First of all. Don't need to tell me that Airbnb is technically illegal in Thailand! I kinda know that.

 

Illegal and makes condos <deleted>ty to live in... so yeah, there is that

Just now, PremiumLane said:

 

Illegal and makes condos <deleted>ty to live in... so yeah, there is that

Everybody in the AirBnB chain knows they are not wanted in someone's street or condo, but they do it anyway coz it's good for them - having a cheap holiday at someone else's expense.

50 minutes ago, Foxx said:

In Thailand short term Airbnb rentals are illegal.  There could be a crackdown, or you could be dobbed in to the police by a disgruntled neighbour.  Is it work the risk?

Anyone got contact details for those I can contact regarding illegal Airbnb condo  rentals?

 

36 minutes ago, JoseThailand said:

As for the "illegality", there is an obvious solution. Make a 1-month contract with every guest with a clause allowing early cancellation.

 

And screw the people who own and rent in the other units, right? The ones who make the place their home and not a hotel. Dudes like you who ruin condo buildings, glad it is illegal over here. 

Over saturated market. You would need to keep lowering price as your neighbors undercut to where there is little profit or even near break even. Many will rent near breakeven or even at a loss to get customers. They have a map on the app, everyone near you shows up on the map.

IMO the OP would need to be dishing out a fair amount in bribes to have various authorities turning a blind eye. He also has to shell out for electricity, water and annual condo fees.

AirBNB is also lining up for its cut.

It also depends on whether the OP is buying at the high, medium or low end. At the low end, 350 - 500 baht/night will have stiff competition from budget hotels. At the high end, the bribes would probably need to be a lot bigger.

TBH, I don't think it is worth the angst and risk. A potential jail term of 1 year in a Thai prison would give me pause. As they say, up to you.

 

https://freshbangkok.com/is-airbnb-illegal-in-thailand/

 

4 minutes ago, PremiumLane said:

 

And screw the people who own and rent in the other units, right? The ones who make the place their home and not a hotel. Dudes like you who ruin condo buildings, glad it is illegal over here. 

That would depend on the complex and rules of.   Some may allow shorter term rentals within the law, and condo rules.

 

Other's strictly against the rules.  Live with your choices.

 

A tourist or few, may be better neighbors than the owner being there year round.

8 minutes ago, KhunLA said:

That would depend on the complex and rules of.   Some may allow shorter term rentals within the law, and condo rules.

 

Other's strictly against the rules.  Live with your choices.

 

A tourist or few, may be better neighbors than the owner being there year round.

AirBnB renters seem to be below the level of development to close doors without slamming them  especially at 3 am - some are so confused by doors that they have to slam them three times in quick succession to be sure.

 

There are whole countries who don't know you have to shower before swimming.

 

Fire escape doors are left jammed open so that AirBNB renters can circumvent key card entry despite notices explaining that the lives of people are being jeapordised by doing this. The fire escape becomes a smoke chimney and those above can't use it to get out.

 

The other day I saw the staff fumigating the basement to stop rats getting a foothold, I couldn't help but wonder.......

1 hour ago, JoseThailand said:

First of all. Don't need to tell me that Airbnb is technically illegal in Thailand! I kinda know that.

 

I wonder if it's really that profitable to buy a condo in Thailand to Airbnb it, considering the current property prices. The ROI seems not to be very high. There are plenty of Airbnbs for 1000 baht or under, which makes it hard to make a real profit. Thailand is known for it's cheap accommodations, and the only way to make good money here is to aim at a higher-end segment. But again, what would be ROI for a higher-end condo? In my opinion, there are much better options around the world (or even within South East Asia) to invest in the Airbnb business. For example, Vietnam, where Airbnb short-term rentals are more expensive than in Thailand, while property prices may be lower.

Better to buy a condo (or townhouse, if possible) within walking distance, or shuttle service to a university.   Not sure about monthly profit, but if bought outright or good financing, you get a free living unit in 10-15-20 years.

 

Always a shortage of accommodations near uni s here.

1 minute ago, KhunLA said:

Better to buy a condo (or townhouse, if possible) within walking distance, or shuttle service to a university.   Not sure about monthly profit, but if bought outright or good financing, you get a free living unit in 10-15-20 years.

 

Always a shortage of accommodations near uni s here.

 

Poor students cannot pay a lot anyway

Just now, JoseThailand said:

 

Poor students cannot pay a lot anyway

And yet, all the complexes are full with waiting list ... go figure.

5 minutes ago, mokwit said:

AirBnB renters seem to be below the level of development to close doors without slamming them  especially at 3 am - some are so confused by doors that they have to slam them three times in quick succession to be sure.

 

There are whole countries who don't know you have to shower before swimming.

I'm living in hell right now. In my moo ban 17 yrs they knocked down the old house next door to us and built a 12 mil 5 br pool villa. Its listed on Booking.com for about 11-12k/night. A new gang arrives about twice a week are mostly single guys.The pool parties usually start anytime between 1am and 4am. The Chinese owners have made it legal via a the Thai lady manager of the mooban.(proxy)Not a thing we can do.I'm surprised none of the neighbours have complained.

I curse anyone who knowingly does that.

1 hour ago, JoseThailand said:

 

I'm not even talking about this. I'm talking only about the financial aspects. Maybe it's not even worth it even from the financial perspective.

 

As for the "illegality", there is an obvious solution. Make a 1-month contract with every guest with a clause allowing early cancellation.

Too many uncertainties, as you hope to have many guests and most likely for short stays, the chance that somebody wrecks the place will get higher. How will you recoup these costs as they could be far away already.

My wife bought a couple of cheap 'Thai style' condos about 10-12 years ago. Rented out to locals. She's had to give them a lick of paint and few minor repairs but no major problems and had her money back already.

About 7 years ago she became part owner of a small hotel in the UK. I expected it to be a financial disaster but against all the odds it generates some serious money. I think a lot more that a similar venture in Thailand could deliver.

5 minutes ago, jaideedave said:

I'm living in hell right now. In my moo ban 17 yrs they knocked down the old house next door to us and built a 12 mil 5 br pool villa. Its listed on Booking.com for about 11-12k/night. A new gang arrives about twice a week are mostly single guys.The pool parties usually start anytime between 1am and 4am. The Chinese owners have made it legal via a the Thai lady manager of the mooban.(proxy)Not a thing we can do.I'm surprised none of the neighbours have complained.

I curse anyone who knowingly does that.

I am a bit surprised if neighbours are Thai as the Thais are used to sorting things out where the law won't protect them.

 

We had someone rent a ground floor restaurant to Africans who then turned it into an all night drinking den for lower Sukhumvit Africans. They apparently stood by the lifts late at night and propositioned any female residents returning home. I get the impression she was told break the lease or things are going to get very nasty.

4 minutes ago, mokwit said:

I am a bit surprised if neighbours are Thai as the Thais are used to sorting things out where the law won't protect them.

 

We had someone rent a ground floor restaurant to Africans who then turned it into an all night drinking den for lower Sukhumvit Africans. They apparently stood by the lifts late at night and propositioned any female residents returning home. I get the impression she was told break the lease or things are going to get very nasty.

My wife has complained to he owner along with a sound recording and she says she will tell them to stop. Thats great, for 1 night but then a new group arrives and it all repeats. I bought a compressed air horn from Lazada.After being woken up at 5 am I once I gave a full 30-40 second blast at 0700. The devil himself couldn't have slept thru that. It gave me great joy though.I'm trying to think of ways to do faux bookings with (Booking.com) any ideas?

The UK tax authorities have forced AirBnB to provide all the data of rentals in electronic format to them so they can retrospectively claim their share along with penalties.

 

Anyone who doesn't think the Thai tax authorities will do that in the future is sadly mistaken.

 

https://www.thp.co.uk/airbnb-tax-crackdown/

11 minutes ago, jaideedave said:

My wife has complained to he owner along with a sound recording and she says she will tell them to stop. Thats great, for 1 night but then a new group arrives and it all repeats. I bought a compressed air horn from Lazada.After being woken up at 5 am I once I gave a full 30-40 second blast at 0700. The devil himself couldn't have slept thru that. It gave me great joy though.I'm trying to think of ways to do faux bookings with (Booking.com) any ideas?

You know who the owner is and can contact her? Years ago I had to move out of an apartment block because of Africans making noise in the night. I would phone their room about the time OF DAY I felt they would be sleeping the deepest and when they picked up I would explain that they were very noisy last night and I couldn't sleep and if I couldn't sleep then i would make sure they couldn't sleep. The were incandescent with rage when it was them having their sleep disturbed.

Just now, JBChiangRai said:

The UK tax authorities have forced AirBnB to provide all the data of rentals in electronic format to them so they can retrospectively claim their share along with penalties.

 

Anyone who doesn't think the Thai tax authorities will do that in the future is sadly mistaken.

 

https://www.thp.co.uk/airbnb-tax-crackdown/

Landlords not declaring the rental revenue to the RD is a vulnerability. This is the usual reason for non filing of TM30. You would have to be sure but if there is sufficient evidence such as some certainty they are not filing TM30 then a "concerned Citizen" letter in good Thai to the RD might help.