The rental market in Pattaya at the moment is hugely competitive, and so it makes good sense to present your property in as good a condition as possible to help secure a tenant.
The cost also needs to be considered. You may wish to calculate how many months rental it would take to recoup the value of your renovation and whether it might be more useful to reduce the rental price of your property? After all, some condos will remain empty simply because there are so many nicely presented ones on the market, but even so, you should still consider renovation and repairs. Therefore we should prefix the following suggestions by saying that it is up to the individual to gauge how necessary they believe each improvement to be. Also, how they might fit into what could be a tight budget at this particular time of the year when rental prices have dropped dramatically.
That said and budget allowing, just as hotels and restaurants have been using the last few months to make improvements to their buildings this is a good time for you to do the same. In the long term, these repairs will add value and allow you to eventually enjoy higher rental rates and occupancy when your property becomes more sought after as a result of what you do with it now.
Of course, it is possible to renovate on a shoestring budget, and although cutting corners can show, it may still be better than no renovations at all.
A lick of paint
To start with, a repaint of the interior will remove any scuffs or marks left by a previous tenant and do wonders to make the place look new and fresh. You can employ a painter or do the work yourself to save money and only pay for the paint and the small number of tools required to complete the job.
New furnishings look far better than tired, old pieces and this is especially true of sofas and cushions. Be aware of the amount you are spending though and always remember that you are furnishing for your tenants and not buying for your own home. So make your choices as universally popular as possible in terms of taste and use of classic colours.
For bedding, a new quilt and cover set are worth investing in, or even a new mattress if the one in place looks and feels exhausted. An old mattress may deter a prospective tenant. So, if it is relatively new but has stains or marks, then it is worth using a specialist cleaner to return it to a pristine state.
Fitted furniture always looks good and although it can cost a little more, with some thought you can achieve a lot for relatively little outlay. Also, fitted furniture can offer better space-saving within smaller properties.
A very nice example of a beautifully renovated studio.
Kitchens & bathrooms
Kitchens and bathrooms are always worth sprucing up. In your bathroom, even if you do not wish to replace the main items, you can still change taps and shower fittings with newer styles. A repaint and re-grout of the tiling will also help to make the bathroom look fresh and inviting.
A kitchen should have all the modern gadgets. Prospective tenants will expect to see a good quality microwave, toaster, and kettle as a minimum, plus additions such as a stand-alone coffee machine can be a right touch. The kitchen should also be spotlessly clean, and this includes the inside of the refrigerator, a place often neglected by departing tenants with their final clean. Also, look to replace obvious things that look old such as chopping boards, a ceramic hob that might have cooking marks and scratches over it or a worktop that has visible signs of wear.
With technology in mind, it is worth investing in flat-screen TVs, not just for the living room but also for each of the bedrooms. You should also be able to provide your tenant with the availability of cable or satellite channels as well as high-speed Internet. In today’s world, especially during recent months, when people have spent more time indoors during the pandemic, these resources have become virtual necessities.
This luxury and high-tech 5 bedrooms pool villa near Mapbrachan Lake does not need any improvement 🙂
The great outdoors
When potential buyers are looking for a home or a vacation home, they often require it to have a private space to unwind and relax. If this isn’t quite sipping coconuts from a hammock, it can be enjoying a morning coffee on the balcony. It is especially true if your tenants hail from colder climes where it simply isn’t possible to enjoy the use of outside space with a condo in their own country. Therefore it is well worth investing in some balcony furniture such as a small table and set of chairs.
Garden furniture in the grounds of a house and by the pool will also make your rental property attractive. There are apparent advantages to landscaping the grounds as the more greenery around the house, the cooler it will be. Shade helps, and the moisture coming off plants keeps the air naturally more cooling in the immediate vicinity. With the world focusing more and more on clean air and healthy living people are looking for ways to improve the quality of air where they live.
Also, consider that if your tenants are not used to living in the tropics, they may be more susceptible to mosquito bites and the nasty diseases that come with them. There are many remedies, including the planting of individual plants that can help to deter them. Marigolds, for example, are often used by gardeners and indeed farmers in their vegetable gardens, to repel mosquitoes and other unwanted pests naturally. Citronella grass also works well and will thrive year-round in the Pattaya sunshine, and it can be grown in the garden and also potted for use on balconies.
When prospective tenants feel at home, they are more likely to make a favourable rental decision. It would help if you reduced your personality stamp in painting choices and decorations. Give the tenant the new home feeling even though others have lived in the property before. Also, beyond making the property more liveable, the improvements can help to increase its value.
If you are unsure of which improvements are most necessary in the case of your particular property? Or uncertain of just how much you should be renting it out for? The team at Pattaya Prestige Properties will be happy to advise you and with our expert knowledge of the market we can list your property at the appropriate price to give you a high chance of securing a tenant.