My New Town House On The Dark Side

[PattayaXpat]

I bought a new town house on the dark side that is currently under construction.It's off Siam CC, a new development by Rattanakorn. It's going to be a very modern, two bed/two bath with a nice corner lot. The construction is coming along on schedule.

Our plans have changed and we are leaving Thailand for at least 5 years. I'm torn between putting it up for a long term rental or trying to sell it out right.

For the rental I would need a very reputable management firm and I plan on leaving it unfurnished and just finish the bathrooms, install A/C, curtains etc..

If I hold it I'm afraid of what the development will look like in 5 years, This is not a luxury development and everyone knows what can happen to the common areas, roads, pipes etc... in 5 years.

Any comments, suggestions? Any reputable management companys you can reccomend? If you are a management company feel free to PM me with info.

Thanks Guys

Edited April 23, 2011 by Phil Conners
Formatting errors fixed

[NALAK]

would depend how much you are looking for rental wise and sale price, its all through th be floor right now, my friend has 5 houses on suwattana which is a nice spot, the town houses usually get trashed by the customers the agents put in, he is struggling to get tenants at 10k per month now. he just slod one for 1.7 million and they are nice, 2 beds 2 bathrooms and a downstairs loo. as usual all the neighbours hate each other.

[FarangBuddha]

would depend how much you are looking for rental wise and sale price, its all through th be floor right now, my friend has 5 houses on suwattana which is a nice spot, the town houses usually get trashed by the customers the agents put in, he is struggling to get tenants at 10k per month now. he just slod one for 1.7 million and they are nice, 2 beds 2 bathrooms and a downstairs loo. as usual all the neighbours hate each other.

Me and the Ms. drove through there recently looking for houses for sale...it was pretty desolate but not much for sale. The wide roads are nice...too bad everybody hates each other...in my current moobaan, everyone gets along pretty well (a mixed Thai and Thai/farang Ratanakorn development).

[somtampet]

would depend how much you are looking for rental wise and sale price, its all through th be floor right now, my friend has 5 houses on suwattana which is a nice spot, the town houses usually get trashed by the customers the agents put in, he is struggling to get tenants at 10k per month now. he just slod one for 1.7 million and they are nice, 2 beds 2 bathrooms and a downstairs loo. as usual all the neighbours hate each other.

Is that normal for neighbours to hate each other,thats a new one on me????

[FarangBuddha]

I would say sell it if you can...managing a rental property from another country is hard work if you do it yourself and any Pattaya property-pimp you get to manage it for you will likely rip you off or not even be interested taking on a low-renting townhouse.

I am currently looking for something on the Farside so feel free to PM me details of your property...I might be interested in it

[moo9]

Is there a prob with this development as it is finished for months, but except for an aircon shop nobody moved in? Thought there was a Thai lww that said a ground floor shop should be 4 m wide. From my visual estimation it looks smaller though. We might be into the office / townhouse rental sooner or later but definately at Pattaya prices. If you can make profit selling it, why don't you do it? Outrenting needs maintenancebut I am not sure the rental prices of this development.

[PattayaXpat]

I would say sell it if you can...managing a rental property from another country is hard work if you do it yourself and any Pattaya property-pimp you get to manage it for you will likely rip you off or not even be interested taking on a low-renting townhouse.

I am currently looking for something on the Farside so feel free to PM me details of your property...I might be interested in it

Getting ripped off is exactly what I'm concerned about. I don't really have anyone that I trust enough to look after things for such a long period of time, so it would need to be a management Company.

I'm leaning towards trying to sell it. If the construction continues on schedule we will have about 6 months to either sell or rent it out...

Thanks for The Responses guys!

[sotsira]

If as you say you'll be away for 5 years then renting it out with any management company would be risky.

I've seen and heard many times the properties being rented out for a lower than agreed rental and agents

keeping the money.

I would do as you said get it finished to an unfurnished standard and put it up for sale.

If it doesn't sell while your still in Thailand then you have to choose whether you'll want to trust an agent with the keys.

or lock it up and wait for your return.

[Langsuan Man]

You double your odds of selling if you try to sell new

Farangs don't care but Thais will want new

[PattayaXpat]

One of my first thoughts was just to lock it up and hope that it builds some equity over the years, but now I'm definitely leaning towards selling...... Thanks Again...

[ESB7]

I would say sell it if you can...managing a rental property from another country is hard work if you do it yourself and any Pattaya property-pimp you get to manage it for you will likely rip you off or not even be interested taking on a low-renting townhouse.

I am currently looking for something on the Farside so feel free to PM me details of your property...I might be interested in it

Getting ripped off is exactly what I'm concerned about. I don't really have anyone that I trust enough to look after things for such a long period of time, so it would need to be a management Company.

I'm leaning towards trying to sell it. If the construction continues on schedule we will have about 6 months to either sell or rent it out...

Thanks for The Responses guys!

Sell it befor you go if you can..otherwise renting will be your only other option...but I dont get this 'being ripped off' comments.....you wont furnish the property, agents will market it for free and if they find a tenant will manage the property (bills, maitenance etc) take their comission and you recieve the rest..........'rip off' where???

[FarangBuddha]

Sell it befor you go if you can..otherwise renting will be your only other option...but I dont get this 'being ripped off' comments.....you wont furnish the property, agents will market it for free and if they find a tenant will manage the property (bills, maitenance etc) take their comission and you recieve the rest..........'rip off' where???

Padding maintenance bills, billing for non-existent problems, just plain keeping the money and taking a powder when you come back...they have a million ways to rip off an owner (not talking about taking stuff out of a rental property...but I wouldn't put that past them either). I mean, when the owner is 10k kilos away and it would cost a thousand bucks to return to check-up on any problems, well, they often take full advantage of the situation.

Edited April 24, 2011 by FarangBuddha

[sotsira]

Sell it befor you go if you can..otherwise renting will be your only other option...but I dont get this 'being ripped off' comments.....you wont furnish the property, agents will market it for free and if they find a tenant will manage the property (bills, maitenance etc) take their comission and you recieve the rest..........'rip off' where???

The fact that the owner wont be in Thailand to check up on his property means that an agent will be free to do as they please

with all the finances, and whether all the rent received will be forwarded to the owner minus all the expenses incurred.

Would it be worthwhile for the wear and tear on the house against any rental income received is what the OP needs to ask himself.

The problem here is that anyone can become a property agent without any question or regulation and that opens the door

to rogue traders and agents taking advantage when they can.

[Soboringtochooseaname]

How much does it cost ?

[kaleevala]

I expect to retire to Thailand in 2 years and was debating buying vs. renting. Are Townhouses treated the same as condos as far as foreign ownership?

[ESB7]

Sell it befor you go if you can..otherwise renting will be your only other option...but I dont get this 'being ripped off' comments.....you wont furnish the property, agents will market it for free and if they find a tenant will manage the property (bills, maitenance etc) take their comission and you recieve the rest..........'rip off' where???

The fact that the owner wont be in Thailand to check up on his property means that an agent will be free to do as they please

with all the finances, and whether all the rent received will be forwarded to the owner minus all the expenses incurred.

Would it be worthwhile for the wear and tear on the house against any rental income received is what the OP needs to ask himself.

The problem here is that anyone can become a property agent without any question or regulation and that opens the door

to rogue traders and agents taking advantage when they can.

It would be good to hear of actual incidents that have genuinly happened to you to substanciate your claims........I think most agents are reputable, if they arnt then they should be named and shamed

[Rimmer]

It would be good to hear of actual incidents that have genuinly happened to you to substanciate your claims........I think most agents are reputable, if they arnt then they should be named and shamed

But not named on here thanks

[MTH]

I expect to retire to Thailand in 2 years and was debating buying vs. renting. Are Townhouses treated the same as condos as far as foreign ownership?

No, townhouses are treated the same way as houses, i.e. you cannot own the land.

[NALAK]

would depend how much you are looking for rental wise and sale price, its all through th be floor right now, my friend has 5 houses on suwattana which is a nice spot, the town houses usually get trashed by the customers the agents put in, he is struggling to get tenants at 10k per month now. he just slod one for 1.7 million and they are nice, 2 beds 2 bathrooms and a downstairs loo. as usual all the neighbours hate each other.

Is that normal for neighbours to hate each other,thats a new one on me????

never happened to me but certainly they seem to have issues about, dogs,music,comapny brought back, thais living amongst farangs. alot of people i know living in these comunnities seem to have problems. having lived on one myself, yes it was the same there, germans hating the czechs and visa versa, russians v east germans. still not rraltive to OP just part of my reply. no my neighbours are all non human, could have a fall out with the flippin free range cows with bells around there necks at 6 am.