canthai wrote:
I believe that the price is dependent on the landlord. A Thai negotiating with a Thai will be more favorable than a farang negotiating with a Thai. It also depends on what you require of the home. If you are not fussy and don't mind your typical Thai home with a Thai kitchen and the Thai plumbing you can find very affordable rental options. On the other hand if you require something more to what you are accustomed too than expect to pay more. As a property owner in Hua Hin myself I am not influenced one way or another. I know what I want and if you are not willing or able to pay what I want than I am not interested. I find it interesting that a lot of foreigners seeking long term rental expect to pay abnormally low rent. I frequently get inquiries for rental terms from 1-5 years. When I let them know I am not interested in long term rental they seem dumbfounded. I as a landlord can make more money on short term basis and at the same time the home is left in better condition as it has been occupied less.
Agree if you can fill your property about 80% of the time, but if it any less than that, it's going to be hard to make that guaranteed income up. Plus you have the hassle, and advertisement costs to consider to find the short term renters. So that's quite a big plus point for long term renters.
As for leaving it in a better condition, I cannot see that one, you have to clean a property every time you let it, so yes you obviously keep it in pristine condition that way, but that is at a cost, if you pay someone, or it is your time, that is still at a cost. Whereas a long termer you only clean the property top to bottom when that person leaves, yes it might cost a bit, but only equal to the on going costs you have endured with short termer's.
I have rented property out in UK, and always put them on the market 10% less than anything similar in the area. I have had most of the time, long term grateful tenants who have looked after the place, and I have never had an empty house. Of course a bit of luck does come into play, but treat tenants well, and they will generally treat your property well. Note the word generally, nothing is certain in this game, but surely your chances of it being mistreated goes up if you rent it out to lots of people rather than one or two?
I say this now, as I am going to be a tenant........
