When you read or hear information about property purchase, the topic usually revolves around a couple things: location, ownership type and money. Let’s talk about money today. Not the money you will spend on a dream house, but the money you can and will earn from it.
If your final goal is to buy a house or apartment for yourself and family to live in, that is absolutely amazing and you are a lucky person. But if you only can visit your holiday home for 2-3 weeks a year, that might be a sign for you to consider renting it out and get some income. Of course there are different options for you to choose from and we will describe and explain them.
Option 1 – rent out by the owner. With this option everything depends on the owner,who is in charge of finding tenants, preparing and signing contracts, organizing check-ins and check-out and many more. If you are residing on the island, this option might work. However, if you are living abroad, you will face a lot of challenges. You can delegate these duties to the third party, but do not forget to ask for their track record. We are sure you wouldn’t be happy to have scammers dealing with your apartment. And here comes the second option.
Option 2 – guaranteed rental income. In this case, you may straight away choose the developer offering it. The average income percentage on the island is 5-8% from investment. You will receive this amount within the agreed period stated in the contract. But please take it into consideration that you as an owner will be limited in time of visiting your house for around 14-30 days a year. Some developers nowadays also offer this program with no monthly and utilities payment during the investment program. But if you personally think that visiting Phuket for only a maximum of 30 days is not enough and you are seeking for more freedom, we have the third option for you.
Option 3 – rental pool. With this program, you will be offered a place in a pool with the owners of the same property type under the same management. All owners will have the shared rental income agreed in the contract as well as maintenance and other expenses. This option allows owners to generate income no matter whether their property is rented or not.
Phuket has different options as well as combinations available now, which makes investments in the island more attractive. Our experts are ready to assist you and offer the most convenient and profitable option.
Do not hesitate to contact us any time. We are here for you.
CLEARVISION GROUP – Property one-stop solution company in Phuket.