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Investment AIRBNB unfriendly condo, Please help input if you know of those
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icemanfx
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 Oct 3 2019, 12:57 PM
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Buying condo for Airbnb is not a financially feasible investment;
- purchase price is higher than equivalent hotel room
- rental rate is cheaper than equivalent hotel room
- occupancy is lower than than equivalent hotel room in the same area.
- many newbie failed to account depreciation, accelerated wear and tear, etc.
According to Airbnb, average occupancy in this country was about 65 room night last year.
This post has been edited by icemanfx: Oct 3 2019, 12:59 PM
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burgielaw
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Oct 9 2019, 02:06 PM
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New Member
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QUOTE(nookie188 @ Mar 23 2019, 04:50 PM) According to this lawyer (Bugie law) the resolution to ban short term tenancy can be tabled at a GENERAL MEETING IE AGMs..not EGMs.. If at an AGM, one needs a simple majority to have the resolution pass..but i have read elsewhere that it must be tabled at an EGM whereby 75% or more of owners present must agree.. Anyone? QUOTE(nookie188 @ Mar 24 2019, 09:16 AM) Thanks  that was what i thought..so what other issues come under special resolutions? in that case, the lawyer is wrong?? and he is supposed to be the "expert" in strata management matters... Hi @nookie188, general meeting means (AGM and EGM). |
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stevenkkh
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Oct 14 2019, 11:22 AM
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As I have been informed, all strata property which include SOHO, SOFO, Service Apt under commercial title, any property bound under strata act is under JMB to decide to ban airbnb or not.
Really curious on this especially those so called commercial titled unit and those fancy name as SOHO, SOFO etc for home staying, why such naming when cannot be airbnb since they are paying all under commercial rate.
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Siao_Lang
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Oct 14 2019, 11:55 PM
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QUOTE(icemanfx @ Oct 3 2019, 12:57 PM) Buying condo for Airbnb is not a financially feasible investment; - purchase price is higher than equivalent hotel room - rental rate is cheaper than equivalent hotel room - occupancy is lower than than equivalent hotel room in the same area. - many newbie failed to account depreciation, accelerated wear and tear, etc. According to Airbnb, average occupancy in this country was about 65 room night last year. YES, AGREE!!! Recently ive seen many airbnb operator close shop.. Chaplap maybe?   This post has been edited by Siao_Lang: Oct 14 2019, 11:56 PM |
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Siao_Lang
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Oct 14 2019, 11:59 PM
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QUOTE(Clive Chong @ Sep 25 2019, 01:26 PM) Hi, does any one know which KLCC condo or service apartment that allow airbnb? besides Face Suite... Butt Suite Ass Suite Hand Suite Eyes Suite Leg Suite Booby Suite Booty Suite Leg Suite Feet Suite Body Suite These are all airbnb friendly.. Can go check out... Very high ROI!!   |
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chinhong60
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Feb 3 2020, 02:29 PM
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Getting Started
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My condo in pudu allow airbnb, interested? Casa mutiara...OYO just returned 20 units in the condo...
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AskarPerang
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Mar 12 2020, 04:52 AM
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ketupatlazat
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Mar 12 2020, 08:05 AM
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QUOTE(AskarPerang @ Mar 12 2020, 04:52 AM) Just a random check on iProp, asking prices ranged between 480k up to 610k for that smol 680sq ft. Oso got 1 lelong unit at 450k Putrajaya is just a bad area to do rental investments -- wrong crowd to cater to |
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w!ng
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Apr 18 2020, 11:00 PM
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New Member
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3 investment rules
-location
-location
-location
Putrajaya is a wrong location. And Airbnb should be at commercial title property, not residential
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mariuSSS P
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Apr 18 2020, 11:50 PM
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New Member
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To my knowledge no condo is able to ban owners from long term rentals because SMA act protects their rights to rent and lease.
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heavensea
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Apr 19 2020, 10:33 AM
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QUOTE(icemanfx @ Oct 3 2019, 12:57 PM) Buying condo for Airbnb is not a financially feasible investment; - purchase price is higher than equivalent hotel room - rental rate is cheaper than equivalent hotel room - occupancy is lower than than equivalent hotel room in the same area. - many newbie failed to account depreciation, accelerated wear and tear, etc. According to Airbnb, average occupancy in this country was about 65 room night last year. It's just a gimmick to sell something (shzt) to water fish that listen to another water fish advise and think they aren't water fish. Too many fish in water. |
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TStrust4you
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Apr 21 2020, 08:55 AM
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QUOTE(heavensea @ Apr 19 2020, 10:33 AM) It's just a gimmick to sell something (shzt) to water fish that listen to another water fish advise and think they aren't water fish. Too many fish in water. I love shzt. |
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heavensea
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Apr 21 2020, 10:25 AM
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QUOTE(trust4you @ Apr 21 2020, 08:55 AM) Be water my friend Be water |
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AskarPerang
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Apr 21 2020, 12:24 PM
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precept66
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Apr 21 2020, 02:06 PM
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Prices of these rentals are reflecting the direction market is going now. Operators of Airbnb must embrace themselves for a rough ride now. Either way is catch-22.
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Siao_Lang
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Apr 21 2020, 10:43 PM
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QUOTE(icemanfx @ Oct 3 2019, 12:57 PM) Buying condo for Airbnb is not a financially feasible investment; - purchase price is higher than equivalent hotel room - rental rate is cheaper than equivalent hotel room - occupancy is lower than than equivalent hotel room in the same area. - many newbie failed to account depreciation, accelerated wear and tear, etc. According to Airbnb, average occupancy in this country was about 65 room night last year.  |
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Siao_Lang
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Apr 21 2020, 10:44 PM
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QUOTE(AskarPerang @ Apr 21 2020, 12:24 PM) I tot airbnb cannot do biz already? Non essential right? If hotel also cannot accept ppl except for quarantine punya orang... How come airbnb can? |
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SUSfreeman1
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Apr 21 2020, 10:47 PM
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Agree... although dislike back door government
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Hofmann33
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Sep 17 2020, 01:39 PM
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Getting Started
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Always see this topic come up, think people should be aware that there can be some consequences to ban Airbnb at your building that you should take note of. 1. Your Property Could Lose Value 2. Your Rental Income Could be Reduced 3. Your Condo Maintenance will suffer Not 100% that these things will occur in every building la but it's possible to have this effect. So, before simply opposing, might just want to consider these outcomes. https://blog.rentandreturns.com/why-you-don...-to-ban-airbnb/ |
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danielSinclair
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Sep 27 2020, 10:08 PM
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QUOTE(w!ng @ Apr 18 2020, 11:00 PM) 3 investment rules -location -location -location Putrajaya is a wrong location. And Airbnb should be at commercial title property, not residential sorry old topic but i stay in putrajaya. to be honest putrajaya is very good for homestay and airbnb because lot of gomen staff come here for meeting and training. sometime they bring families. cannot stay hotel for 1 week together with families. putrajaya is good for homestay (maybe airbnb) . maybe during covid no more meeting for gomen office. but now everything back to normal  |
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