Letting/Renting out your condo in Pattaya
Check Your Condominium Documents
Your condominium documents, or “condo docs,” contain the conditions, covenants and restrictions imposed by your community’s condo association. Review the documents carefully to find out if renting is allowed and, if so, whether restrictions apply. Contact your association board if you need clarification on any point.
Know Your Market
The key to renting your unit quickly is to know market value rents and price your condo accordingly. We will prepare a comparative market analysis free of charge in order to establish a relationship with a landlord. Watch for other condos in your community to be advertised for rent and use those rates as a guide.
Upgrade Your Insurance
Your condo insurance covers the condo and its contents, but chances are the policy applies only to owner-occupied units. A rental property needs the special coverage offered by a “dwelling policy.” Also consider protective policies that cover such equipment as furnaces; insurance for loss of rent due to damage; and liability coverage to protect your assets in the event someone is injured on your property.
Spruce Up the Condo
Deferred maintenance can reduce your condo’s value and make the condo less attractive to well-qualified tenants. Consider hiring a home inspector to make sure all your unit’s structures and systems are in good repair. Also, paint the unit, replace damaged or stained flooring, counters and fixtures and give the property a thorough cleaning.