Some of the Benefits of Long-Term Rentals.
In the past, people were always looking to buy a holiday home as an investment, rent it out, and hopefully, the proceeds would cover the mortgage payments. However, this investment strategy means that a lot of work is required on their part, and a lot of time as well. They have to deal with a real estate company to rent the property out for them, and to keep an eye on maintenance, and the current resident. The property market can be quite volatile at times, and there is never a guarantee that you’re going to make a huge profit on your investment.
Some of the benefits.
Property investors are now choosing to offer long-term rentals in Ekkamai, Bangkok, because they know offering long term rental is the best way to increase cash flow, and also to protect their investment against the inflation rate. There are many other benefits of offering your property to long-term renters, and we will cover just a few of them here today.
- Less restrictions – Many governments have now changed the law, so that short-term rentals are no longer allowed. The governments have been put under pressure from local hotels to restrict the amount of properties that can offer short-term rentals. Thankfully, long term rentals are not affected by this change in the law.
- Avoid seasonal fluctuations – Many properties are only rented during the peak season, and for all other times, the property remains empty. This is not a cost-effective strategy for property investors, and so offering long term rentals, allows you to avoid these seasonal fluctuations. Your property will be occupied all year round, and over the long term, as well.
- Better tenants – Renting out the property for a longer period of time, allows you to screen potential tenants, and even meet the person that might be living in your property. In an area such as Ekkamai, in Bangkok, you can afford to be a selective as you want to be.
Renting out your property over the long term, is the best solution for everyone, and even more so, if you can find the right property company in Bangkok to take care of your investment. Long-term renters, generally prefer to supply their own furniture and fixtures, and this saves you a lot of additional expenditure. The rental money paid should be more than enough to cover the mortgage, insurance, and other relevant outgoings.