Buying And Renting Condos, Your Experience?

[radiola]

Is it easy to rent out condo, around 38 sqm, has cable, flat tv, big pool, near sukhumvit pattaya?

What is your experiece, is there a demand for rent or not?

I wonder how hard it is to get a renter to rent it for 1 year, 10000 per month? Will I end up not renting at all? What is your thoughts, please reply only if you have real experience not from hearsay

And how he pays when you are away, for example electric, water? I plan to travel so condo is kind of an investment

also what if he trashes the place completely, taking drugs etc, damages furniture? How you deal with that?

Edited May 3, 2012 by radiola

[erre191]

Hi Radiola

You are good for some entertainment on TV. But in reality you should stop day-dreaming, come over here for an extended period and check out all your ideas, questions and fantasies in person. Have you ever been to Thailand at all? To answer your question. Renting is not easy and the problems for most landlords are even worse than in their home-country. Running it through an agent will probably leave you with 5-6% ROI, but then again it is location, services and amenities that will determine this.. For 10'000 Baht/mth you can find plenty nice studios in very good locations.Have a nice day. ER

[radiola]

Hi Radiola

You are good for some entertainment on TV. But in reality you should stop day-dreaming, come over here for an extended period and check out all your ideas, questions and fantasies in person. Have you ever been to Thailand at all? To answer your question. Renting is not easy and the problems for most landlords are even worse than in their home-country. Running it through an agent will probably leave you with 5-6% ROI, but then again it is location, services and amenities that will determine this.. For 10'000 Baht/mth you can find plenty nice studios in very good locations.Have a nice day. ER

dude i stay pattaya, i live in thailand for 3 years now, so you are saying 5-6 %roi? what does not mean, per year?

if I rent it out through agent, how much percent will they take??

[PattayaParent]

Hi Radiola

You are good for some entertainment on TV. But in reality you should stop day-dreaming, come over here for an extended period and check out all your ideas, questions and fantasies in person. Have you ever been to Thailand at all? To answer your question. Renting is not easy and the problems for most landlords are even worse than in their home-country. Running it through an agent will probably leave you with 5-6% ROI, but then again it is location, services and amenities that will determine this.. For 10'000 Baht/mth you can find plenty nice studios in very good locations.Have a nice day. ER

I wonder if it's the return of Weho?????

[Markland]

Hi Radiola

You are good for some entertainment on TV. But in reality you should stop day-dreaming, come over here for an extended period and check out all your ideas, questions and fantasies in person. Have you ever been to Thailand at all? To answer your question. Renting is not easy and the problems for most landlords are even worse than in their home-country. Running it through an agent will probably leave you with 5-6% ROI, but then again it is location, services and amenities that will determine this.. For 10'000 Baht/mth you can find plenty nice studios in very good locations.Have a nice day. ER

dude i stay pattaya, i live in thailand for 3 years now, so you are saying 5-6 %roi? what does not mean, per year?

if I rent it out through agent, how much percent will they take??

If the agent rent it for one year they will take one months commission.The person renting can pay directly to your thai bank account every month when you are away.You can check payment online.

But you have to buy a condo first

If you have a nice condo at 38sqm you should have no problem renting out.

Allot of landlords complaining about not being able to rent out there condos.

In reality it is because they are overpricing there properties and are not advertising enough.Some people i know only use on agency for everything don't even post there listing on free sites.You have to be pro active.

[greg71]

Firstly id say demand is relativly low demand for rentals

Finding a QUALITY renter is hard just look at the competetion on real estate websites Tv or any other site regarding condo rentals

Then if u decide to have an agent run it for u , ur up for 1 months rent for the commision even then there is no real guarentee things will go smoothly u have to be on the correct side of suk rd to compete in the market u want tenants trash places etc then thats really up to u brother this is thailand and reality is we r not the greatest concern to police etc so that why u take 2 months advance on rent

Normal the renter will pay electric and water as they arrive to the tenant

And lastly if ur asking so many questions ur clearly not ready to commit we on thaivisa cannot hold ur hand all the time Mr Radiola good luck

Cheers

Edited May 3, 2012 by greg71

[23962323]

Better still, I would look for an owner paying you to stay in his place, or better still pay two months rent upfront,get a flat for free (Suan Sawarm),maybe pay rent for two flats get 3 flats for free

[Markland]

And lastly if ur asking so many questions ur clearly not ready to commit we on thaivisa cannot hold ur hand all the time Mr Radiola good luck

Cheers

Yes this is very true and it funny

[radiola]

dudes let me tell you something, i am not a regular guy with office job, i have a university degree, been working in the office only 9 months, then my internet marketing just took off. I have been travelling the world for the last 7 years, working from beach in bali, kuala lumpur appartment, london house, geneve appartment, los angeles hotel, vegas hotel

so i move a lot, am very flexible and i cant decide quick, the guy that decides quick usually looses money, so you need to ask, ask and ask to be sure you are doing the right thing.

i am sure lots of you would switch places with me and do your job from hotel room, working 2 hours per day from laptop rather than working 10 hours day shift from office and throwing your life away

some people are dummies and loose money because they dont ask around. that is the main problem

just my 50 bhts

[Markland]

yes i wish i was you.I wish i didn't live in this god dam_n awful house which cost me 17 million baht and i wish i didn't have this 20 year old good for nothing h...........r hanging of my shoulders.

Relax dude.My english is not good because i from brazil what is your excuse ?

keep your money and cool.Don't jump into buying anything at the moment

[greg71]

So did you investing in any of the places u have been to b4?Posed the same questions to the locals there?What was the Thai peoples resposes to ur real estate question?remember we are not locals and we dont count for that much in reality London La etc all need a decent amount of cash to invest which u clearly dont have an abundance of .Buy GOLD bars you can have the liquidity without the stress and u could still rent at 7000 baht at the top of the (gold ) chain .A word of advice dont buy a bike,Medical bills are expesive or buy insurance for ur health ,limit funds tied up in house condo and or bike and no insurance = beware of the unaware here in Thailand

[vtjforyou]

Very easy, but not an old cheap place at the dark side...

[jay1980]

I rent out a place in Jomtien.

about 6% roi, 80% occupancy so far but now I have a tenant that signed for 12 months(for a small discount on rent)

I have charnot and the electric and water the tenant just pays the bills at 7/11 at city rate.

I pay the office lady in condo 10% to collect the money every month and deal with any questions from the tenant as I only spend about 8 weeks a year in Thailand right now.

I did not buy as an investment, I bought to live when work and finances allow but renting out has gone better than I expected.

cheers

[londoedan]

some people are dummies and loose money because they dont ask around. that is the main problem

Sigh, if only us mere mortals were as smart and clued-up as you.

[Markland]

Radiola is not a old guy he should keep his money for the time being do not waste it

[bmanly]

radiola, I stay in Pattaya about 4 to 6 Months of the year. I have been doing this for 20 years or so.

I rent because it's too easy. I have a large circle of farang friends and all I need to do is fire off an email a couple of weeks before arriving and I will have a condo ready for me. I pay 6,000 baht a Month plus expenses for a mediocre 32 sqm condo around the soi Arunothai area. Bigger condos I can get easy for around 10,000 p/m but again they are just mediocre. A mate of mine owns a super nice 32 sqm condo in view talay 7 Jomtien on the high floor (I think 20) he rents it long term for 22,000 baht per Month. Whatever your budget is you can find something.

As others have said, some owners try it on and charge way beyond what the condo is worth. Then some try on big deposits, I never pay deposits for the condos I rent. I just pay the Monthly fee plus expenses, none of this holding deposit stuff.

Why I say it's easy to rent is because if I don't like a place then I move, get another very easily. Buying for me means putting in at a minimum $30,000 AUD or (1 million baht). I do not want to lose the interest I get from my capital at 6% here in Australia so for me I won't buy. My long term mates in Pattaya think totally opposite to me, horses for courses.

No matter how good you think your future condo could be only what someone is prepared to pay rent for it is what it is worth. What you think you should get for rent may never happen. Long term farang residents know what is the right price is. There are those that will accept the correct price then there are the dreamers, their condos are still empty. Good Luck.

[Markland]

I would never rent out a house(i have ten of them) without getting 2 months deposit.If a tenant breaks contract are destroys the room and leaves without notice then that is a big problem.

At least if have deposit then i can coffer the costs without having to spend my own money.

In ten years i only have problem two times out of hundreds of customers.

I always give deposits back.Because i will tell you something

it is not my money to keep if everything is fine.

But that is for another debate isn't it.

The opening posting is looking for a condo he could buy one for that price in nirun or view talay 1

but he will only get 6-8 thousand baht per month for it unless he find stupid customer and there are many of them available

[pattayadingo]

dudes let me tell you something, i am not a regular guy with office job, i have a university degree, been working in the office only 9 months, then my internet marketing just took off. I have been travelling the world for the last 7 years, working from beach in bali, kuala lumpur appartment, london house, geneve appartment, los angeles hotel, vegas hotel

so i move a lot, am very flexible and i cant decide quick, the guy that decides quick usually looses money, so you need to ask, ask and ask to be sure you are doing the right thing.

i am sure lots of you would switch places with me and do your job from hotel room, working 2 hours per day from laptop rather than working 10 hours day shift from office and throwing your life away

some people are dummies and loose money because they dont ask around. that is the main problem

just my 50 bhts

A Uni degree and you cannot even spell loser or lose?

if you even thought - just a little - about renting a condo / house to someone else you might realise there are liable to be problems.

You are out of the country

The tenant dies.

There is a water leak.

Some items break down etc. etc.

The rent is not paid.

The tenant trashes the apartment and leaves with no notice.

What do you do when these problems need fixing?

All of these and similar scenarios need common sense. Ah, but that might be a problem with your Uni education

[bmanly]

I would never rent out a house(i have ten of them) without getting 2 months deposit.If a tenant breaks contract are destroys the room and leaves without notice then that is a big problem.

I rent from close friends, I should have said that. I actually add to the condo by buying nick nacs like, jugs or dvd players and leave it there when I go. Got a good name by doing that and I am always welcomed back, that's why they don't charge the deposit.

Renting to strangers is a different story, you are right.

[Darrel]

A mate of mine owns a super nice 32 sqm condo in view talay 7 Jomtien on the high floor (I think 20) he rents it long term for 22,000 baht per Month.

There are no 32sqm units in VT7. 48sqm is the smallest size studio.

With a minimum of effort you can find a 48sqm unit in VT7 or 5 for around 10-12KB/month on a long-term contract. Only an idiot would pay 22K, even short term (which isn't to say that there aren't idiots around, of course).

I rent 60+sqm for 10K in that area; high floor, good view etc.

So the OP's idea of renting out 38sqm on Sukumvit (who wants to live there?) for 10K long-term would seem very optimistic to me. Of course it does all depend on what sort of tenant you find; I am pretty much a perfect tenant and so I'm probably paying much less than many others would for the same unit.

[bmanly]

A mate of mine owns a super nice 32 sqm condo in view talay 7 Jomtien on the high floor (I think 20) he rents it long term for 22,000 baht per Month.

Only an idiot would pay 22K, even short term (which isn't to say that there aren't idiots around, of course).

.

She is a Russian who apparently works there with Russian customers, (travel I think). I thought it was a bit high too. He was a bit p!ssed off having to give the office the first Months rent. He got a 12 Month contract out of her. It is a single studio facing the beach, panoramic views.

[Darrel]

She is a Russian who apparently works there with Russian customers, (travel I think). I thought it was a bit high too. He was a bit p!ssed off having to give the office the first Months rent. He got a 12 Month contract out of her. It is a single studio facing the beach, panoramic views.

Wow. Russians are nuts. I would have been thinking about paying half that.

Edited May 3, 2012 by Darrel

[radiola]

i am still juggling between house or condo, well the condo is not on dark side, it is after sukhumvit, it is quite cheap, but not have kitchen, couch, air con is old, so I wonder how much would I need to pay for these three things extra, would 100k be enough?

If I am not here I would give it to agency I guess, let they rent it out and I will put on ads myself

i am not in live in pattaya i guess so I would like to travel and see the rest of the world, brasil and mexico are next

@markland you have 10 houses, are over 90yo and still can read the screen and type on the laptop, something is fishy here, but if you are really over 90 kudos to you

[besth]

dudes let me tell you something, i am not a regular guy with office job, i have a university degree, been working in the office only 9 months, then my internet marketing just took off. I have been travelling the world for the last 7 years, working from beach in bali, kuala lumpur appartment, london house, geneve appartment, los angeles hotel, vegas hotel

so i move a lot, am very flexible and i cant decide quick, the guy that decides quick usually looses money, so you need to ask, ask and ask to be sure you are doing the right thing.

i am sure lots of you would switch places with me and do your job from hotel room, working 2 hours per day from laptop rather than working 10 hours day shift from office and throwing your life away

some people are dummies and loose money because they dont ask around. that is the main problem

just my 50 bhts

A Uni degree and you cannot even spell loser or lose?

if you even thought - just a little - about renting a condo / house to someone else you might realise there are liable to be problems.

You are out of the country

The tenant dies.

There is a water leak.

Some items break down etc. etc.

The rent is not paid.

The tenant trashes the apartment and leaves with no notice.

What do you do when these problems need fixing?

All of these and similar scenarios need common sense. Ah, but that might be a problem with your Uni education

The OP never said he had graduated, just that he had a University degree. It could have been in the attic of his grandparent's home. Sounds like a likely possibility reading his posts

And I have to agree, radiola is definitely not a regular dude. Still haven't been able to figure out if a big time troll or a "special dude". Mildly entertaining.

[Markland]

radiola i am 50 not 90.90 was me being sarcastic.I hope i can still type when i am 90

but who knows how advanaced we will be then

[seasia]

I wouldn`t be interested in a 38 sq mtr condo that sounds like it is located on the wrong side of Sukhumvit Road when I am renting one only a stroll away from a main bahtbus route at half the price.

Nor would I be interested in renting from a landlord who is only interested in ROI yet not even understanding what it means.

I`m a landlord in the UK and a good one, any issues are sorted quickly and without fuss, money is not my main consideration, I must be one of the rare ones that wants a happy tenant that will stay until they are ready to move on and are maybe prepared to recommend someone else to take their place..

I choose to be a tenant in Thailand, an easy going one, pay rent on time, keep wherever I am living in good/excellent condition

I was a little puzzled by the last landlord, I wanted to put up some shelves, my expense and it would have been professionally done yet they refused.

A UK tenant wanted to make some alterations and I gave permission to go ahead, why the difference here?

[radiola]

dudes let me tell you something, i am not a regular guy with office job, i have a university degree, been working in the office only 9 months, then my internet marketing just took off. I have been travelling the world for the last 7 years, working from beach in bali, kuala lumpur appartment, london house, geneve appartment, los angeles hotel, vegas hotel

so i move a lot, am very flexible and i cant decide quick, the guy that decides quick usually looses money, so you need to ask, ask and ask to be sure you are doing the right thing.

i am sure lots of you would switch places with me and do your job from hotel room, working 2 hours per day from laptop rather than working 10 hours day shift from office and throwing your life away

some people are dummies and loose money because they dont ask around. that is the main problem

just my 50 bhts

A Uni degree and you cannot even spell loser or lose?

if you even thought - just a little - about renting a condo / house to someone else you might realise there are liable to be problems.

You are out of the country

The tenant dies.

There is a water leak.

Some items break down etc. etc.

The rent is not paid.

The tenant trashes the apartment and leaves with no notice.

What do you do when these problems need fixing?

All of these and similar scenarios need common sense. Ah, but that might be a problem with your Uni education

The OP never said he had graduated, just that he had a University degree. It could have been in the attic of his grandparent's home. Sounds like a likely possibility reading his posts

And I have to agree, radiola is definitely not a regular dude. Still haven't been able to figure out if a big time troll or a "special dude". Mildly entertaining.

who cares, i am not defending myself, btw, go to sleep, you have to go to work in the morning, ha ha ha

i am making 3k from internet dude, working 2, 3 hours per day, you wish you could do that, yes special people can do that and not leech from a fat boss who eats all the profits and leave them with bare minimum, good luck

[23962323]

dudes let me tell you something, i am not a regular guy with office job, i have a university degree, been working in the office only 9 months, then my internet marketing just took off. I have been travelling the world for the last 7 years, working from beach in bali, kuala lumpur appartment, london house, geneve appartment, los angeles hotel, vegas hotel

so i move a lot, am very flexible and i cant decide quick, the guy that decides quick usually looses money, so you need to ask, ask and ask to be sure you are doing the right thing.

i am sure lots of you would switch places with me and do your job from hotel room, working 2 hours per day from laptop rather than working 10 hours day shift from office and throwing your life away

some people are dummies and loose money because they dont ask around. that is the main problem

just my 50 bhts

A Uni degree and you cannot even spell loser or lose?

if you even thought - just a little - about renting a condo / house to someone else you might realise there are liable to be problems.

You are out of the country

The tenant dies.

There is a water leak.

Some items break down etc. etc.

The rent is not paid.

The tenant trashes the apartment and leaves with no notice.

What do you do when these problems need fixing?

All of these and similar scenarios need common sense. Ah, but that might be a problem with your Uni education

The OP never said he had graduated, just that he had a University degree. It could have been in the attic of his grandparent's home. Sounds like a likely possibility reading his posts

And I have to agree, radiola is definitely not a regular dude. Still haven't been able to figure out if a big time troll or a "special dude". Mildly entertaining.

who cares, i am not defending myself, btw, go to sleep, you have to go to work in the morning, ha ha ha

i am making 3k from internet dude, working 2, 3 hours per day, you wish you could do that, yes special people can do that and not leech from a fat boss who eats all the profits and leave them with bare minimum, good luck

Radiola your a likeable soul,but a bit of a square peg in a round hole methinks.You make nothing as you state,why the hell go look at Suan Sawarm for one on your stated income?.I have a more than good income,but I'm not blowing it in this worthless place,whatever bought here will undoubtedly be worth a lot less in a few years time I do not believe you for one,but could not give a rats arse one way or other

[radiola]

i just found out that the condo is across the sukhumvit, like 100 meters, so i guess that is the dark side, does the price drops down immediately?

What is the price that a condo of 38 sq, goes for on that location near suk 59?

if i can rent it for max 6k per month, i will pass

[Darrel]

..... the condo is not on dark side, it is after sukhumvit, it is quite cheap, but not have kitchen ....

I should hope it is very cheap. On Sukumvit, no kitchen. Rather you than me.

Are you sure it's a real condo and not just a room in a block? Whilst you can buy a room you cant own one, except via some company structure of dubious legality.

Why not live dangerously and tell us the building's name?