Know Phuket: Finances
November 28, 2013
Laem Singh Beach Phuket
December 6, 2013Vista del Mar Phuket offer 2-4 bedroom apartments to rent just 50 meters from Naithon beach, and 1-3 bedroom pool villas in a luxury 5* hotel style villa resort ‘The Residence Resort and Spa Retreat’, sited 800 meters from Bang Tao beach.
Renting out your luxury Phuket villa is a great way to make some income when you are not using the property. However there are some things to consider and actions to take before offering your home to others, especially if you buy a hous
e in Phuket with this exact plan in mind.
First, check that there are no restrictions on renting your property out. Individual resorts may have limitations on the amount of time you can rent out your property for, or may ban pets or children. Any restrictions have the potential to impact on rental.
Hire a good agent and property management company. A good property management company will boost the periods when your Phuket private villa is rented out as well as taking off your hands all the inconvenience of maintaining it.
Do your research and expect realistic returns, find out when the lowest point of the tourism season is; will the weather have an effect on your rental and work out how many weeks the average property in your area rents out for. By being prepared you will have no unhappy surprises further down the line.
Also work out how often you intend to stay in the property yourself. If buying a house in Phuket and considering part-time rent out to help cover costs, then you need to ensure you don’t stay in the villa during the most profitable season!
Consider the location and access of your Phuket villa; is it near the airport or the beach, does it require transport to hand, are there family facilities or shops nearby? All of these factors can determine how successful your rental is.
Finally don’t forget the financial and legal side of things. Insurers need to know if you are letting your Phuket property out, and the taxman may need to be informed. Keep a handle on all your papers and costs to determine how well the Phuket property works for you.
With all this in mind, we still can’t think who wouldn’t want to come and stay in a Phuket villa with private pool; it will certainly bring all the family and friends to visit!





