Renting Out Your Bangkok Property? Get More Money In Your Pocket With These Tips
Properties for rent, especially small one bedroom condos, are abound in Bangkok. If you own some property in the city, it’s a great idea to make an income from it. There are always people looking for a place to rent in Bangkok, many of them expats. But there are a few things you should know about before you find yourself a tenant, in order to maximize your income from the property.
- Keep your condo or apartment well maintained
No tenant will want to move into a dirty home with stained walls and dusty, cobwebbed corners. Before you put it up for rent, be sure to clean it out as professionally as you can. Make sure that the picture of the apartment you’ve put up for tenants to see online (especially if it’s one of those early photos taken when you first bought the property) is not so different from what tenants actually find that it casts a shadow of disappointment over the house viewing.
Be doubly sure to clean up if you’re living there while the tenants arrive for the viewing.
- Make your property stand out
There are so many apartments and condos for sale in Bangkok that after a while, each starts looking like the earlier one. The last thing you want is a potential tenant who has looked at a couple of places in the morning and turns up at your place to find nothing that stands out. You can make a few simple changes to make your property unique.
Add lots of green plants or ornaments in suitable places. Paint a wall a different color from the rest to accentuate it and add interest. Instead of white walls, consider some other light but neutral color for a little character. Whatever you do, don’t go overboard with the accents, as you should leave it to the tenants to ultimately decide how they want to interior decorate.
- Be sure to price carefully
It may not be obvious to everyone that to get the most out of your rental property, you should price very wisely. Of course you want as much money as you can possibly get from it. But it’s very rarely that you will find a tenant willing to pay top market price, and if you price near the top of your market range, the property will just sit in the market while other better deals get rented off.
In the meantime you have to deal with the loss of income while the apartment is vacant. Remember that those who will pay top dollar for an apartment are usually looking for something better, so they won’t stay for long. Instead, price a little lower than you would like, and ensure an income every month!
Keep these tips in mind before you look for an agent to find tenants for you. Put yourself in the position of a prospective tenant – would you like to move into that apartment, the way it is, if you were a tenant? Would you pay the price that you’re asking for? If you answer no to these questions, you may need to make some changes to the place or lower the price.
Then go ahead and find a reliable property agent in Bangkok.