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To Rent or Not to Rent........


grabitanrun

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Hi Guys,

A bit of a quandary - I was looking to sell my house nr Pattaya (Mabprachan) but doesn't look like there's any buyers right now, however my wife should be returning to the UK in the coming months and I don't want to leave the property empty (spent a fortune this year bringing it back up to spec), here's the issue:

Should I look to rent it out, (my problem is my experience in the UK of trouble-tennants) or ask my wife to get one of her friends to live in it? - rental income really isn't the issue but how the hell do I find reliable (and decent) tenants over here?

Grabbit

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That's a tough one. Some do rentals and have great luck. Others, no so much luck. Entirely depends on the tenant. Definitely don't leave it empty.

Some have had success with relatives taking care of the place. Unfortunately, many others have not been so successful.

You could try with a real estate office and see what they can do for you. Again, it's a crap shoot as to how it will turn out. But even if they damage the place, the rental income should be more than enough to get it back up to snuff. Just get a good agency here. They'll take one months rent, but will do the collection for you and deal with all issues. Not a bad way to go. I would also be nice to have somebody here to keep an eye on it for you....

Best of luck!

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Putting 'friends' in there would not appeal to me. I have seen that situation nearby and there were ultimately quite a few people living there, they may even sublet it underneath you.

If you find an agent who is prepared to handle things for you there will be a security deposit against damage and an income.

Bad tenants are perhaps better than bad squatters or bad 'friends'.....

Look for tenants who are overseas workers, their company tends to pay well and be responsible. Out by the lake, near to Rt 36, #331 and The Motorway should appeal to them.

Edited by jacko45k
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I too am a house owner here and have rented it out on one occasion.

But it would never occur to me to ask on here whether I should rent it out again or not. Everybody in the world knows there are careful people that rent out other people's property and there are other people who will treat it like sh--. Who on earth, could possibly know what type of tenant I will rent it to in the future, if that's what I decided to do.

Edited by dotpoom
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I know one guy that rented his house out at a minimal rent in return for the tenant looking after it, garden, pool, paying the bills etc. works well for him as it is someone he knows, kinda both doing each other a favour.

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What I always do for my condos in BKK is price it 5k under the comparable units in the area. This way I always have tons (50+) applicants. Easy to find a reliable upstanding individual. Neighboring units owned by Thais are sometimes vacant for years. When I tell them about my method they say, "-But at cheap price I get bad tenants". Ironic as in 10 years of letting out, not once have I had a bad apple in my units because I always have lots to choose from.

Edited by Dellie
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I would rather have someone decent live in my place for free than renting it out to someone I don't know who might just mess the place up and then I'm still not 100% sure I will be paid every month ( if I'm not close to my property )

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I would rather have someone decent live in my place for free than renting it out to someone I don't know who might just mess the place up and then I'm still not 100% sure I will be paid every month ( if I'm not close to my property )

Understand you entirely but if you don't value your place enough to charge for it your tenant may not value it too. At least that may be how the message is taken

Edited by Linzz
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In many countries, people "hire" house sitters. There's an entire community that does this full time. I met several in Costa Rica years ago. CR has a tough rainy season and many head out, bringing in house sitters to just watch after the place. And to keep the squatter out! LOL

Arrangements are varied. Some get paid, some pay to stay there, others stay for free. The later sometimes have to do some minor work, sometimes not.

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Thanks Guys,

I'll read thru all this - and respond to those on here.

Grabbit

Hello Grabitandrun

Due to health reason we also are looking to rent our house so if anyone answers looking for a European Style 3/4 bedroom bungalow with 10 x 5 pool please pass them, onto me if you cannot help them.

Would really appreciate it,

Thanks

Regards Harvey

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Better to deal with this at arms length and not get a personal friend involved. As they say "The quickest way to lose a friend is to lend them money". I think that would apply here to. It is because of this friendship, and them thinking you don't need the money, they will have all kinds of excuses why they can't pay there rent. You really don't need that.

If I was you I would find someone to manage my property who you can trust. The rental market in Pattaya is also over saturated so unless you have a very good price it may still sit empty. They will also not be to fussy who they rent your place to as all they are looking for is their commission. I would stay away from the Short Time Renters. They are more likely to cause damage in a place they are only staying in for a month then a Long Term Renter, in my books. You can stipulate this in your Rental Agreement. But again your price has got to be attractive enough for them to want to move in Long Term. . .

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