Let’s Think – How To Rent Your High End Condo?

Lately I am busy looking for accommodation in Seoul, yes, I’m going to Seoul soon. Yippie! Okay, back to business…

While browsing airbnb.com, I notice that there are quite a number of apartments/studios which are rented out for short term (daily to tourist) and long term basis (monthly). Some of the units are really popular to tourists that they are booked throughout the year! So what makes these units so appealing? Again – location mantra applies. These units have fantastic locations ie. located beside or short walking distance to public transport with plentiful amenities around them. What’s more convenient than having a mini mart, restaurants or even better shopping mall just 5 minutes away. Plus the units are fully furnished. With another plus; the owner’s wonderful customer service.

Suddenly I recalled reading luxury condominiums in capital city will continue to have more downward pressure on rental market.

SO MANY CONDOS …

HOW TO RENT ?

Could this be an alternative to catching some rentals? Well news had reported that tourism industry will expect a boom this year. I mean worldwide, so more tourists are expected to visit Malaysia.

I believe by combining both market, an owner has more chances of making full use of his condo to collect more rentals. Well I’m not an investor of high-end condominiums, nor am I someone from hotel industry, but when times are bad, it’s the time to call for “thinking out of the box”.

Of course it’s easier to rent for long term tenants – less hassle, no need to keep finding short term tenants etc. But hey, it’s better than no tenant at all. After a check, a few condo units around KL center receive a lot of bookings in airbnb too!

p/s : Have I forgotten to mention that I’d love to own a boutique hotel (it’s still in my dream list). Since the higher end property market is stagnant for awhile now, hmm…  can it be the time for me to shop for 1 or 2 studio condos and convert them into hotel rooms – instead of thinking too big, take smaller workable actions towards my dream

What do you think? This idea can work?