Finding Tenants How ?
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Finding Tenants How ?
Am trying to learn more about the Cambodian real estate market.
Obviously in last 10 years the condo sale market here has exploded as can be seen by the huge amount of new developments erected but once you buy such unit then how is the rental return and finding a tenant?
If look today on Khem24.com website and just for Phnom Penh area alone then there are : In the section Apartment for Rent in Phnom Penh, Cambodia there are 6400 rental advertisments being published on 03 September 2020.
Obviously in last 10 years the condo sale market here has exploded as can be seen by the huge amount of new developments erected but once you buy such unit then how is the rental return and finding a tenant?
If look today on Khem24.com website and just for Phnom Penh area alone then there are : In the section Apartment for Rent in Phnom Penh, Cambodia there are 6400 rental advertisments being published on 03 September 2020.
Re: Finding Tenants How ?
Facebook is the internet here.
Many groups to advertise your rental.
Many groups to advertise your rental.
- armchairlawyer
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Re: Finding Tenants How ?
Nice data point.Strawberryshake wrote: ↑Thu Sep 03, 2020 5:06 pm If look today on Khem24.com website and just for Phnom Penh area alone then there are : In the section Apartment for Rent in Phnom Penh, Cambodia there are 6400 rental advertisments being published on 03 September 2020.
Makes your question rhetorical really.
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Re: Finding Tenants How ?
Like said, Facebook is #1. Then word-of-mouth / through friends and colleagues. Putting "for rent" banner on balcony with phone number works really well too. Khmer24 can be ok option too, depending on type of your property. Thats about it.
Don't let that "6400 rental advertisments" fool you too much. Most are duplicates as many people post the same unit (agents for example don't really have exclusivity here) and they repeat the same ad each day without deleting the old one to keep their ad top of the listing. Also some agents keep posting same properties all over again, even they have find a tenant already, so tha once you call them, they can show you something else.
Short term rentals can be very profitable too if you are able to arrange someone to do the turn overs.
Don't let that "6400 rental advertisments" fool you too much. Most are duplicates as many people post the same unit (agents for example don't really have exclusivity here) and they repeat the same ad each day without deleting the old one to keep their ad top of the listing. Also some agents keep posting same properties all over again, even they have find a tenant already, so tha once you call them, they can show you something else.
Short term rentals can be very profitable too if you are able to arrange someone to do the turn overs.
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Re: Finding Tenants How ?
Yes but it doesn’t hurt to thinking out loud sometimes ..armchairlawyer wrote: ↑Thu Sep 03, 2020 8:27 pmNice data point.Strawberryshake wrote: ↑Thu Sep 03, 2020 5:06 pm If look today on Khem24.com website and just for Phnom Penh area alone then there are : In the section Apartment for Rent in Phnom Penh, Cambodia there are 6400 rental advertisments being published on 03 September 2020.
Makes your question rhetorical really.
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Re: Finding Tenants How ?
Some valuable argument and sure there are lots of double adds in that dayabase and also the monthly rent amounts i left them open so no minimum and no maximum filled in So there are also units for 3000 usd ect for monthly rent in that list.
But On the flip side there are also singular adds from developers and in such add they mention that they have multiple units with various sizes and prices in that building for rent.. its safe to say in PP there are thousands units for rent and most are better styled then in Thailand and or Phillipines...So in Phillipines u stand out with a bright shiny unit but here the majority is already looking bright and shiny.
But On the flip side there are also singular adds from developers and in such add they mention that they have multiple units with various sizes and prices in that building for rent.. its safe to say in PP there are thousands units for rent and most are better styled then in Thailand and or Phillipines...So in Phillipines u stand out with a bright shiny unit but here the majority is already looking bright and shiny.
- Bitte_Kein_Lexus
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Re: Finding Tenants How ?
Plus there's tax and all that. More of it next year. Not really worth it imo.
Ex Bitteeinbit/LexusSchmexus
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Re: Finding Tenants How ?
What annoys me is that Spain real estate which is a first world country sitting in Europe is becoming more affordable in comparison with Thai or Cambodian real estate.Bitte_Kein_Lexus wrote: ↑Fri Sep 04, 2020 6:52 am Plus there's tax and all that. More of it next year. Not really worth it imo.
As we speak Spain property prices are dropping due to corvid however that’s (not yet ) the situation in Asia.
- armchairlawyer
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Re: Finding Tenants How ?
Why be annoyed? Rents have come down a lot (especially of high end places) so you can live wherever you want at reasonable rent.Strawberryshake wrote: ↑Fri Sep 04, 2020 2:23 pmWhat annoys me is that Spain real estate which is a first world country sitting in Europe is becoming more affordable in comparison with Thai or Cambodian real estate.Bitte_Kein_Lexus wrote: ↑Fri Sep 04, 2020 6:52 am Plus there's tax and all that. More of it next year. Not really worth it imo.
As we speak Spain property prices are dropping due to corvid however that’s (not yet ) the situation in Asia.
Then simply invest your capital in something that offers better value until sale prices offer better value.
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Re: Finding Tenants How ?
True true rents are dropping and will continue to drop imho simply due to oversupply.armchairlawyer wrote: ↑Fri Sep 04, 2020 3:13 pmWhy be annoyed? Rents have come down a lot (especially of high end places) so you can live wherever you want at reasonable rent.Strawberryshake wrote: ↑Fri Sep 04, 2020 2:23 pmWhat annoys me is that Spain real estate which is a first world country sitting in Europe is becoming more affordable in comparison with Thai or Cambodian real estateBitte_Kein_Lexus wrote: ↑Fri Sep 04, 2020 6:52 am Plus there's tax and all that. More of it next year. Not really worth it imo.
.
As we speak Spain property prices are dropping due to corvid however that’s (not yet ) the situation in Asia.
Then simply invest your capital in something that offers better value until sale prices offer better value.
I just liked the idea of conveniently owning a property in PP or Snooky but if such property gonna stay empty then it just going to cost me money each month instead of generating. So The way i see it is i will only buy a unit in Cambodia if its with 50% under the actual value from a owner in stress and who wants out if not i buy something nice in Spain for lower prices btw.
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