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How to keep your villa or apartment under Property management in Thailand

How to keep your villa or apartment under Property management in Thailand

At the moment, based on the laws of Thailand, you can rent your house in two ways: do it yourself or trust the professionals. What pitfalls await the owner? How do his expectations relate to the real picture? These and other questions can be answered in this article.

As of 2019, real estate in Pattaya can still bring income to the owners, but at the moment the number of proposals greatly exceeds the demand. To win in a difficult competition, you need to approach the solution of the problem thoroughly and work out the right strategy. If there is no experience in this area, then it is worth thinking about cooperation with companies that are ready to take on all the obligations to rent housing.

Pros and cons for the owner to self-rent an apartment or house in Thailand

If the owner has two or more apartments, in one of which he lives himself, and the others are rented, then in this situation it is quite convenient to deal with the delivery of housing independently. If the options for the delivery is not very much, then it almost does not take personal time, although it requires some attention. Sometimes you have to look at your objects to carry out cosmetic repairs, replace broken parts, check the safety and condition of the property. In parallel, you need to look for new tenants. In addition, it is illegal to engage in real estate without opening a company, obtaining a work permit, a business visa and a tourist license, so you will have to devote some time to solving these issues.

The option of self-rental is not suitable for those who plan to leave housing to new tenants, having left for a long time.

Pros

  • You can choose where to display your housing: post ads on forums, make posts in groups on social networks or search for clients among your own friends and acquaintances.
  • Many tourists when searching for housing for rent prefer advertisements marked “from the owner” - in this regard, you can always find your client.

Cons

  • The most obvious disadvantage is the need for experience in this business. In a tough market battle between landlords, the one who has already accumulated a certain amount of knowledge in this area will win in Thailand, and not in his country of residence, where everything is different.
  • In order to rent out your property in Thailand in 2019, you must have a work permit. Without it, the owner can go to prison or receive a large fine, if the tenant only contacts the appropriate authorities and complains about the owner of the house or apartment. Moreover, the complaint may be based on a completely trivial problem, for example, for refusing to repair the air conditioner immediately.
  • Deliver problems and tenants who suddenly move out of the apartment, and the owner will be absent in the country. Who can put in order and prepare the house for new arriving guests? You can, of course, fly to Thailand urgently and try to find new tenants on your own. But what guarantees that it will turn out to rent a house in the allotted time?
  • In the case of the publication of ads in social networks, you can run into an unscrupulous guest, who will leave behind such a pogrom after himself that no initial deposit can cover the costs of repair and restoration of housing.

Property management in Pattaya

Letting your house for rent through a real estate agency

Sometimes it is difficult to step over yourself and give control over your property to strangers, but the ratio of pros and cons in this situation looks more advantageous. Here the main thing is to choose the right company that you can trust: not every company opened in Pattaya has the necessary travel license to work with guests of the country. But this article will not address the issue of choosing the right business partner, but only the pros and cons of such a choice.

Cons

  • At first, the owner may make the wrong conclusion that real estate agencies will rob him by paying a lower price than the one at which the apartment is rented. However, things are a little different. Companies are obliged to issue wages to their employees, rent offices, pay taxes, buy expensive licenses for legal work in the country. Therefore, they will not engage in another's real estate for the mythical "ten percent." And the prices of rented houses or apartments are not only based on the owner’s profit (and this is a large part of the price), but also on the payment to employees who will carry out arrivals and departures, cleaning, repairs and other services to ensure the comfort of guests.
  • Few firms will take care of housing for a short period of time. They are more interesting to enter into a contract for a period of three years.
  • Many companies are very demanding for the property provided for rent and will not sign the contract until the owner puts his apartment in order.

Pros

  • All worries fall on the shoulders of real estate agency: search, meeting and resettlement of guests, the subsequent mandatory registration of tourists in Pattaya immigration police, repair of broken equipment and the purchase of new (if necessary), the organization of cleaning services, monitoring payment of utilities and much more. All this is handled by GrandisVillas, as well as, in addition to the above, they are ready to help on many issues and tenants - for example, on translating and resolving problems related to lack of knowledge of the language and local mentality - that the owner would have had to decide when starting a business independently.
  • The owner of the housing gets rid of tenants' excessive intrusiveness and the need to contact law enforcement agencies in the event of problems with the living tourists.
  • Large companies have at their disposal not only the most valuable experience gained over decades, but also extensive channels for the dissemination of information. Thus, the complex tour operator GrandisVillas interacts with the international level market: from Asia to Europe, Australia and America. All detailed and detailed information about accommodation is posted on the official website of the company and on other international portals, such as Booking.com, Agoda, Expedia, Hotels.com and others.
  • Real estate firms usually have their own loyal customer base. For years, GrandisVillas have been offering rental options for apartments, houses and villas throughout Thailand: Bangkok, Pattaya, Hua Hin, Chiang Mai and Chiang Rai, Samet, Samui, Koh Chang, Phangan and Phuket, so customers return again and again .
  • Companies are engaged in short-term rental housing, because it is a market focused on tourists. According to statistics, in 2018 the number of guests in the “country of smiles” increased to 22 million people, and each of them is a potential customer. Independently engage in short-term rental is uncomfortable and tedious.

Afterwords

You can very long compare self-delivery of housing and work through the company. Here is just a small list of the main pros and cons for each option. On this list, we can conclude that the owner of the property is fully capable of dealing with this difficult task on his own. The main thing is to have your own company with the necessary licenses, a work visa and free time to take care of your property. However, the landlord, who values ​​his time dearly, will weigh the pros and cons and, most likely, will decide on cooperation with a real estate company that will take care of everything and provide the owner with a stable passive income.

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