Another reason not to buy Strata committee

[georgegeorgia]

I was thinking about buying a small apartment in Bangkok 

Now I got talking to a resident who was actually Australian

 

He told me the strata committee for the building was made up of a family who owned the majority of units and kept voting themselves in

 

The place wasn't in the best shape , rundown etc and they had "special levies" for some reason 

But ..he alleges that the strata committee members made up of Thai family were actually using the owners funds to renovate their apartments

He looked at a receipt that said the stairs were retiled but in reality the tiles went to a strata committee members bathroom 

 

The building manager with this 120 unit building was a relative of the strata committee 

 

Now apparently he has complained to no avail 

 

I looked at the strata committee photos on the wall ,seems to be mother son brother etc all family 

The gym is in disarray the swimming pool dirty 

I won't offer a price because seems everyone is trying to sell

But in this building 120 plus units it seems more investors than owners 

 

 

[Woke to Sounds]

Just rent.

 

You can't win dealing with Commies.

[georgegeorgia]

Seems strange , apparently the strata fees are 35,000 baht a quarter because there is "special levies" for 2 years for various reasons 

 

He looked at receipt for tiling common areas and found out they weren't done !

 

So in reality investors Chinese etc are losing out on this investment because a family is control of the strata committee 

[4MyEgo]

2 hours ago, georgegeorgia said:

I was thinking about buying a small apartment in Bangkok 

 

Why buy George, rent and invest the balance of your money to pay your rent for you +

 

I had over 3 decades in property back in Oz, and there is no way I would buy a place here, that should tell you something.

 

Renting means you can up and go anytime and you don't have all the outgoings that go with it, Thai laws are very different to Oz laws.

 

You might get sick of where you live after a while and selling can take forever, whereas renting, you give notice and see you later, hello new rental.

 

The above said if you invest your money in Oz, not property, it's tax free on any gains.

[emptypockets]

2 hours ago, 4MyEgo said:

 

Why buy George, rent and invest the balance of your money to pay your rent for you +

 

I had over 3 decades in property back in Oz, and there is no way I would buy a place here, that should tell you something.

 

Renting means you can up and go anytime and you don't have all the outgoings that go with it, Thai laws are very different to Oz laws.

 

You might get sick of where you live after a while and selling can take forever, whereas renting, you give notice and see you later, hello new rental.

 

The above said if you invest your money in Oz, not property, it's tax free on any gains.

Tell that my accountant. I'm sure he'll pass it on to the tax department so they can see the error of their ways.

[connda]

Wife owns a rai of land in rural Northern Thailand.  We have two houses. I have no desire to live in a city no less a condo or anywhere else you need to deal with partial ownership and communal building run by?  Guess who - ain't you farangs.  But? To each there own.

[Celsius]

I had a girlfriend who owned a condo in C Ekkamai.

 

Yes, this condo

 

https://thethaiger.com/news/bangkok/tourist-police-raid-the-c-ekkamai-condo-to-arrest-people-running-rooms-as-hotel-bangkok

 

At the next strata meeting, the Thai and Chinese owners stated that if they were not allowed to rent out their units, they would cease paying common fees.

 

The following days and months, security staff assisted groups of Chinese tourists, many wheeling suitcases, as they registered their fingerprints and activated their key cards.

[NorthernRyland]

Going head first in to the belly of the beast. Don't do it.