Living in Thailand has been one of the best options especially to the tourist who fell in love on the life and culture of the Land of 10,000 Smiles. That is why various housing types like hotels, homestays and condominium units are almost everywhere, both for temporary stay and even for those who are looking forward spending their lives in Thailand.
Some of the locals are investing in more than one house property in Thailand, which can be a risky plan most especially because of the financial responsibilities like the mortgages. Fortunately, this desire to own more than one property can still be worked out, by considering having the other house be rented out. This way, you can still have those properties you have been eyeing without spending too much.
However, there are important matters that must be done first before entrusting your hard-earned property to other persons. Here are some of the tips that you can consider if you are now decided to rent out your property in Thailand.
- Look for a real estate expert that you can trust.
This is something that should be done not only by those individuals who are first timers being a landlord, but also those who are in this venture for quite some time. Finding someone reliable and expert on this renting venture is very essential. They will help you in almost every way they can to ensure that you get better people to rent your property-from advertising and marketing strategies, find proper connections and looking for the right people as renters. Finding their consultancy may be expensive, but it will surely be worth it.
- Invest some furniture to furnish your home.
Finding and investing simple yet modernized furniture to your assets will not only attract interested locals and even tourists, but also they can add more value to your property. It will be more convenient especially to people who want to transfer in Thailand from other places since they do not have to bring more stuff upon moving in.
- Ensure that the house does have a warm, feel-at-home vibes.
Despite of not having plans to live on that property personally, it still must have the ambiance of homey atmosphere. How to do that? Aside from investing simple furniture, other accessories like paintings, rugs and other displayed items can be added for more designs, making it look and feel like cozy place to live.
- Have some professional photos.
In addition to having a reliable real estate partner, having professional photography sessions of your place can be an additional investment if you will rent out your property. Having professionals to take shots of your property ca surely bring out the best angles and other areas that can show off to your place. This can be a great help especially nowadays that most of the people are relying to social media in looking for almost everything they need, even properties to rent out for.
- Set a price that can work for the both of you and the renter
Now that your property is ready to be rent out, it is time to ponder more on how much are you going to have it rent. It is obvious that you are offering this place as an additional source of income on your part, but of course, you should also consider the other party who will be interested on your property. After all, despite of presenting your property as attractive as it looks, but with unreasonable price, surely no one will consider having that for rent.
You can start looking for the right price by searching online on what is the usual pricing for Thailand properties. Then, while exploring, do not forget to consider other expenses that you invested on it like the photography session and furniture items, also other amenities that can be experienced in your place like gym, pool and parking. Most of all, consider how long can you have it rent-by week, month, or year.