Can Anyone Recommend An Agency To Rent My Condo For Short Term Stays?

[JeffCA]

I am in the process of transferring a new condo and I'm not interested in renting it long term as I want to keep it available for me to come stay anytime. Can anyone recommend an agency that does short term rentals of condos and manages the process for you (for a fee of course)?

[sometime]

A location might help

[think_too_mut]

I am in the process of transferring a new condo and I'm not interested in renting it long term as I want to keep it available for me to come stay anytime. Can anyone recommend an agency that does short term rentals of condos and manages the process for you (for a fee of course)?

Usually, big building complexes or buildings with their own on-site management and cleaners can do that.

An agency that would rent it for a day-rwo or for a week would have no intention to ferry the cleaners and maids to the location.

Possibly, some independent biz like that may exist, I don't know, would not expect nor try to find it.

A large complex, like Pattaya View Thalay has building office but do not rent directly. Somehow, when you ask, they would dig out some number and somebody would turn up. Usually a cleaner that the owner got friendly with or made a deal with. Many times I just turned up and a room was available, out of the blue. Whether that woman reports all the rents and income to the owner is another question.

Some farangs, running a dry cleaning or whatever shop in the building would also have an array of rooms for rent, from people like you.

If you are thinikg of an agency, not located within the building or even in the vicinity that would run your apartment as a weekly rental and take 30% (like many in Sydney at Potts Point do) I doubt it's a common practice in BKK. Possibly for holiday rooms in up-market places.

[desi]

I am in the process of transferring a new condo and I'm not interested in renting it long term as I want to keep it available for me to come stay anytime. Can anyone recommend an agency that does short term rentals of condos and manages the process for you (for a fee of course)?

I asked about this very same subject during the of buying a condo. Not that I want to leave Thailand, but 'if'.

The estate agent said 'no', but then mentioned that there was conversation going around her office on the subject.

To enquire (as I see you are tagged LA/Bangkok) contact Eve House.

Please do not be put off by the crappy website. In my experience, they are top notch (saved me a ton of time and money).

Edited July 6, 2008 by desi

[JeffCA]

I am in the process of transferring a new condo and I'm not interested in renting it long term as I want to keep it available for me to come stay anytime. Can anyone recommend an agency that does short term rentals of condos and manages the process for you (for a fee of course)?

I asked about this very same subject during the of buying a condo. Not that I want to leave Thailand, but 'if'.

The estate agent said 'no', but then mentioned that there was conversation going around her office on the subject.

To enquire (as I see you are tagged LA/Bangkok) contact Eve House.

Please do not be put off by the crappy website. In my experience, they are top notch (saved me a ton of time and money).

The condo is Thonburi in Bangkok near the new Skytrain Extension (if it ever opens). Thanks for the answers. Any more suggestions are certainly appreciated.

I do know of one agency that does this and takes 25%, but I'm sure about the trust with them.

[trajan]

the economies of scale probably dont make it feasible for reputable management agencies to do this kind of business (for one-off condo units in a far flung building)

some hotels and villa resorts (with private residences on the premises) provide short stay rent-out schemes on a shared revenue basis (for the private owners), but they have 24/7 on-site support set-up (cleaning staff, repairmen, reception & reservation staff, etc.) already in place .......if you participate in the rent out plan (instead of just privately using your own condo unit fulltime), they also make you buy the up-to-hotel standard furniture, fixtures, appliances and decor (to qualify for the rent out plan)....

Banyan Tree Hotel on Sathorn does this if you buy a leasehold residence there...

Alila Hotel in the upcoming Hansar condo behind the Four Seasons on Rajadamri Rd will have this if you buy a leasehold residence...

I heard Evason Hotel in the upcoming Baan Rajprasong condo off of Rajdamri Rd may provide this if you buy a leasehold residence...

lots of resorts on Phuket/Samui also have this (and as a gimmick sometimes guarantee 6% to 8% net return on short stay rentals for a few yrs) and you, as an owner have a set or unlimited (if no guaranteed return) period of time in which you can personally use the unit (if you reserve in advance just like any other guest, because your condo unit might already be reserved by a paying short term guest)....

Im also looking for that kind of condo unit in Bangkok (and maybe the islands) BUT would want freehold, not leasehold (and I would definitely want a reputable international manager (like a Hilton, Marriott, Banyan Tree, W, Ritz, Westin, Hyatt etc.) not a local local firm which just might pocket some returns on short term rental stays (and not maintain the premises nor properly market the unit to short stay guests etc.)....

if you hear of any let me know

[quiksilva]

Speaking as someone in the industry I can tell you that trajan is correct. It is not profitable enough to do this for single owner condominium units. If an agency takes this on they will have to market many rooms in various buildings across an entire market.

Most firms have residential letting teams where the agents seek to place tenants looking to rent for a year or more for which they receive standard market rates of 1 months rent, but for even shorter terms the volumes are not there, or at least the traditional letting approach doesn't make a very attractive business model.

We only offer a residential letting service in buildings where we are also acting as property managers, or where our projects have introduced well known hoteliers to put rooms into their rental pool. This is what we refer to as a "condotel" concept, which tends to work best in resort destinations.

The key to making this work for you, the investors, is the hotel managers' access to the tourist agency network (for room distribution and bookings). Their brands can be incredibly powerful sales tools, when the quality of the real estate is up to par.