ChipButty Posted January 4 Share Posted January 4 11 minutes ago, jaideedave said: FYI It's listed on Booking.com.I wonder if contacting them will bear any fruit? I tried searching their site I cant see any links and their customer service is not very good, unlike Airbnb they give you a link to look at, https://www.airbnb.com/help/article/3290 1 Link to comment Share on other sites More sharing options...
jaideedave Posted January 4 Share Posted January 4 49 minutes ago, ChipButty said: I tried searching their site I cant see any links and their customer service is not very good, unlike Airbnb they give you a link to look at, https://www.airbnb.com/help/article/3290 Wow, the link is very informative. I wish Booking.com had that.I have to register and sign in to even access their help line ffs. Then they want a booking number...I'm not very optimistic. 1 Link to comment Share on other sites More sharing options...
ChipButty Posted January 4 Share Posted January 4 26 minutes ago, jaideedave said: Wow, the link is very informative. I wish Booking.com had that.I have to register and sign in to even access their help line ffs. Then they want a booking number...I'm not very optimistic. I even logged into my account, they don't make it easy to contact them 1 Link to comment Share on other sites More sharing options...
Popular Post pomchop Posted January 4 Popular Post Share Posted January 4 Obviously a lot of people who do illegal airbnb rentals in condos are very special people and it is their absolute right to do anything they want regardless of the laws or the total disruption of long term occupants. I hope that wherever these people live that some thai opens a nice karaoke bar or a pig farm next door to them or their neighbor decides to airbnb next door to their condo and let them experience first hand what they seem to think is just fine to do to other people. 1 2 Link to comment Share on other sites More sharing options...
mokwit Posted January 4 Share Posted January 4 10 minutes ago, pomchop said: Obviously a lot of people who do illegal airbnb rentals in condos are very special people and it is their absolute right to do anything they want regardless of the laws or the total disruption of long term occupants. I hope that wherever these people live that some thai opens a nice karaoke bar or a pig farm next door to them or their neighbor decides to airbnb next door to their condo and let them experience first hand what they seem to think is just fine to do to other people. The increase in interest rates has gutted many AirBnB landlords to the point where they are undergoing the financial equivalent of a prolapsed rectum. I try not to derive satisfaction from the misfortune of others but am prepared to make an exemption in this case. We are blocking AirBnB renters at reception when we can - they may have spent hours on a flight and be looking forward to their holiday but I have NO sympathy as it is impossible they don't know people don't want ST lets in a condo that is their home. they don't care, and guess what, neither do I. 2 1 Link to comment Share on other sites More sharing options...
ChipButty Posted January 4 Share Posted January 4 1 hour ago, mokwit said: The increase in interest rates has gutted many AirBnB landlords to the point where they are undergoing the financial equivalent of a prolapsed rectum. I try not to derive satisfaction from the misfortune of others but am prepared to make an exemption in this case. We are blocking AirBnB renters at reception when we can - they may have spent hours on a flight and be looking forward to their holiday but I have NO sympathy as it is impossible they don't know people don't want ST lets in a condo that is their home. they don't care, and guess what, neither do I. A few of these guys with multiple units are going under I read about 2 today, one with 12 units the other one I think about 150 units, this is America, 2 Link to comment Share on other sites More sharing options...
ChipButty Posted January 4 Share Posted January 4 Notorious Airbnb Host Charged with Allegedly Running $8.5M Nationwide Scam Shray Goel is charged with running an Airbnb scam across 100 U.S. properties. https://www.vice.com/.../shray-goel-charged-airbnb-scam Link to comment Share on other sites More sharing options...
donx Posted January 4 Share Posted January 4 11 hours ago, jaideedave said: You've just described my situation.The difference being they built a 5br Pool Villa next to us.These are called "small hotels" and are only allowed to Thai citizens.The lady who looks after the moo ban probably has it in her name and the real owners are Chinese.There are about 5-6 examples in the immediate area now. At a glance it looks legal. Our complaints about loud pool parties at 3 am to city hall(Pattaya) result in crickets.We've upgraded out adjoining wall/windows to the tune of 60k. It helps but thats all. I am now reduced to childish revenge like a prolonged air horn blast at 0700 for their amusement. FYI It's listed on Booking.com.I wonder if contacting them will bear any fruit? Based upon your response, I believe the situation I outlined is legal since a townhouse is owned by a Thai. How else could it be owned other than by a Thai or a Thai LTD? Link to comment Share on other sites More sharing options...
donx Posted January 4 Share Posted January 4 14 hours ago, Peterw42 said: Airbnb really only works in places like New York, Sydney etc, Where hotels are in short supply and they are expensive, Otherwise, Thailand has 1,000s of great well priced hotels, completely legal, with all the usual facilities. There is literally no demand for Airbnb. As for the OPs question, there is no margin at all. To be competitive you would be renting for as low as 500 baht a night, and it costs 300 to have it cleaned, another 200 for fresh linen, 100 a day for elec, water, internet, condo fees etc. Wages for someone to meet and greet, and whatever cut Airbnb takes. I dont know why this still gets discussed, its illegal, and there is no money to be made. In my opinion, there are cases where an Airbnb rental could work in Thailand. For example, when a family of 8 needs a booking, getting multiple hotel rooms could be more expensive than renting a house that accommodates up to 8 guests. I have a family of 5 and I often look for places to rent wherever we travel that can accommodate all of us in a single place. In Thailand, we often have to book 2 rooms which isn't too bad, but if we can get a place with 2 bedrooms, we prefer that option. Unfortunately, there aren't many hotels or serviced apartments in Thailand that have such an accommodation. I have rented apartments in Rome, Paris, Tokyo, Kyoto, Brooklyn, etc. instead of hotel rooms because it was much more cost effective than booking hotel rooms. Link to comment Share on other sites More sharing options...
jaideedave Posted January 5 Share Posted January 5 14 hours ago, donx said: Based upon your response, I believe the situation I outlined is legal since a townhouse is owned by a Thai. How else could it be owned other than by a Thai or a Thai LTD? Agree it is owned by a Thai who is representing the Chinese couple by proxy for a fee.There are now half a dozen in this moo ban that have sprung up in the last 5 years.Similar to many farangs who have their houses etc. in a company name registered through their solicitor.One of many loopholes and workarounds prevalent here.Just about anything can be accomplished for a fee. Thats why we love living here. So in an reply yes, it's probably legal. 555 Link to comment Share on other sites More sharing options...
PJ71 Posted January 5 Share Posted January 5 On 1/3/2024 at 5:44 AM, JoseThailand said: Like what? ROI on most rentals people are happy with 6%. You can get this at many banks now, no expense, no hassle, no work. 1 Link to comment Share on other sites More sharing options...
JoseThailand Posted January 6 Author Share Posted January 6 (edited) 23 hours ago, PJ71 said: ROI on most rentals people are happy with 6%. You can get this at many banks now, no expense, no hassle, no work. In motorbike rental business ROI is 50-100%. Of course there are some expenses, but still it's so much better than the meager 6% Edited January 6 by JoseThailand Link to comment Share on other sites More sharing options...
Bangkok Barry Posted January 11 Share Posted January 11 On 1/3/2024 at 12:09 PM, JoseThailand said: 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. So why are you asking about Thailand, where you run the risk of losing the property or arrest, no matter how smart you think you are about finding ways around the rules so that you can run an illegal business? 1 Link to comment Share on other sites More sharing options...
JoseThailand Posted January 11 Author Share Posted January 11 6 minutes ago, Bangkok Barry said: So why are you asking about Thailand, where you run the risk of losing the property or arrest, no matter how smart you think you are about finding ways around the rules so that you can run an illegal business? Because maybe someone would prove me that I'm wrong. Btw, nobody's talking about losing the property or arrest, that's complete nonsense. My question was only about the financials. Link to comment Share on other sites More sharing options...
Peterphuket Posted January 11 Share Posted January 11 Have had 2 condos for rent through AIRBNB, both sold, and had no regrets. All this whining...it's never good. 1 Link to comment Share on other sites More sharing options...
Bangkok Barry Posted January 11 Share Posted January 11 5 minutes ago, JoseThailand said: Because maybe someone would prove me that I'm wrong. Btw, nobody's talking about losing the property or arrest, that's complete nonsense. My question was only about the financials. You've clearly not dealt with Thai men in uniform and don't know what hey can do if they want to. Upset a VIP with noise from your place and the police might actually enforce the law. Long shot, but still risky. You would have absolutely no control over who rents your place and what they do there. 1 Link to comment Share on other sites More sharing options...
sikishrory Posted January 11 Share Posted January 11 Short term condo rentals are not illegal if the condo has a hotel licence and lots do in tourist areas. 50sq rooms with this setup in Bangtao are going for 17,000 a night at the moment and I think were around 7 million to buy Link to comment Share on other sites More sharing options...
JoseThailand Posted January 11 Author Share Posted January 11 26 minutes ago, sikishrory said: Short term condo rentals are not illegal if the condo has a hotel licence and lots do in tourist areas. 50sq rooms with this setup in Bangtao are going for 17,000 a night at the moment and I think were around 7 million to buy That's a meager 3% ROI. Doesn't make sense. Link to comment Share on other sites More sharing options...
AustinRacing Posted January 11 Share Posted January 11 If you’re not sure what to invest in you’re advised not to invest in anything. Link to comment Share on other sites More sharing options...
Freddy42OZ Posted January 12 Share Posted January 12 On 1/3/2024 at 12:49 PM, 1FinickyOne said: 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... If the regular monthly rental on the property is lets say 150,000 THB per month (5000 per day) then that same property will on airbnb for 15,000 per day. I wouldn't waste my time with airbnb properties unless you are at the higher end of the market - 10K THB per day type properties. 1 Link to comment Share on other sites More sharing options...
ChipButty Posted January 12 Share Posted January 12 18 hours ago, sikishrory said: Short term condo rentals are not illegal if the condo has a hotel licence and lots do in tourist areas. 50sq rooms with this setup in Bangtao are going for 17,000 a night at the moment and I think were around 7 million to buy Im not sure you are 100% correct, Yes the condo owners have a license, how many units did they sell to private investors? does their license cover them? only if they hand over the units to the condo management team, but if the private owners decide to airbnb will they be covered by that license, not sure, 1 Link to comment Share on other sites More sharing options...
newnative Posted January 12 Share Posted January 12 19 hours ago, sikishrory said: Short term condo rentals are not illegal if the condo has a hotel licence and lots do in tourist areas. 50sq rooms with this setup in Bangtao are going for 17,000 a night at the moment and I think were around 7 million to buy I might be wrong but I don't think a project legally registered at the Land Office as a 'condominium' can also be registered as a hotel. Link to comment Share on other sites More sharing options...
ChipButty Posted January 12 Share Posted January 12 (edited) 27 minutes ago, newnative said: I might be wrong but I don't think a project legally registered at the Land Office as a 'condominium' can also be registered as a hotel. I think the information you have is wrong, I think the term used is "Condotel" There is one such project I know in Rawai and they have a hotel license I see their number quoted on their own web site and on other OTA's sites, they get a lot of business via booking.com, They did sell a lot of the units but I am not sure that license covers the private owners to do STR, Edited January 12 by ChipButty Link to comment Share on other sites More sharing options...
newnative Posted January 12 Share Posted January 12 3 hours ago, ChipButty said: I think the information you have is wrong, I think the term used is "Condotel" There is one such project I know in Rawai and they have a hotel license I see their number quoted on their own web site and on other OTA's sites, they get a lot of business via booking.com, They did sell a lot of the units but I am not sure that license covers the private owners to do STR, I agree there are 'condotel' type projects, which are set up differently from a project set up legally as a 'condominium'. A project set up as a 'condominium', and which is legally registered as such at the Land Office, abides by the rules and regulations of the Thailand Condominium Act. In order to legally rent for less than 30 days, a hotel license is required, which most legally registered condominiums do not have, and do not want to have. Link to comment Share on other sites More sharing options...
YaDongImproved Posted January 12 Share Posted January 12 The profitability of buying a condo for the purpose of renting it out on Airbnb or similar short-term rental platforms depends on various factors, including: Location: Proximity to tourist attractions, public transportation, and amenities can significantly impact rental demand and pricing. Property Quality: The condition, facilities, and overall appeal of the condo will affect your ability to attract guests and charge higher rates. Market Conditions: The local real estate and rental market, including competition and seasonal fluctuations, will influence occupancy rates and profitability. Regulatory Environment: Ensure that short-term rentals are allowed by the condominium's juristic person and that you are in compliance with Thai law. Some areas have restrictions on short-term rentals that could affect your ability to operate legally. Operational Costs: Consider the costs of furnishing, maintenance, utilities, property management, cleaning, taxes, and condo fees when calculating profitability. Marketing and Management: Your ability to effectively market the property and manage guest relations can also impact success. It's important to conduct thorough research and comprehensive financial analysis considering these factors. Learn about all the regulation of the hotel act, as it must be declared as a non-hotel and there are tax implications too. I wrote an article on that. They recently modified the Hotel Act. Hotel Act Compliance: In Thailand, short-term rentals might fall under the Hotel Act. Ensure you comply with local laws which may require a hotel license. Even if you are not a hotel, you must register as a non-hotel. You must inform the Thai ministry of interior that the unit is not rented out as a hotel. The current law, modified in August 2023, mentions “in the case where the residential premises contain a number of not exceeding eight rooms on all floors in total, whether in single or several buildings and with a total service capacity of not more than 30 guests with the purpose to operate as a temporary accommodation for travelers or the other person, this would not be considered as a hotel.” This certification could take up to 40 days. You will need to provide: (1) Identification cards of the notifier and the room owner. (2) Power of attorney if the notifier does not go in person. (3) Lease agreement. (4) Title deed. (5) Condo location map. (6) Main income documents. Link to comment Share on other sites More sharing options...
treetops Posted January 12 Share Posted January 12 On 1/11/2024 at 7:17 AM, JoseThailand said: That's a meager 3% ROI. Doesn't make sense. Not if that's a nightly rate as the poster claimed. 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now