EXCLUSIVE: One real estate agency has started an innovative marketing campaign to boost its Bangkok rentals business.
Century21 Skylux is offering tenants 50 percent cashback on the first month’s rental costs on some of its Bangkok rental properties until the middle of July.
Speaking exclusively to ThailandProperty.News, the owner of the Bangkok-based agency, Roger Claeys, said the marketing initiative was to help its existing owners to rent their properties.
He said: “It’s fair to say the Bangkok rental market is very competitive right now.”
“We use multiple agents and agencies to market our properties, and we’re making extra efforts for our clients.”
Discussing the Bangkok rentals market in general, he suggested that some Bangkok landlords are expecting too much.
He said a few owners are wanting to list their Bangkok rentals too high, and they are also expecting too much in terms of rental yields.
“It’s a competitive market and, on average, our clients are getting between 4 percent and 4.5 percent rental yields in Bangkok right now.”
“Five percent and higher is possible if the original purchase is made at a good price, and the property is in a good location.”
“To get those kinds of yields you need to work with a real estate agency that invests in listing your property and engages in good marketing.”
His confirmed the firm’s latest cashback campaign, which only started recently using the social media platform Facebook, has received immediate responses.
Regarding last month’s introduction of the new property rental law, Claeys said he’s not seen any real changes to the Bangkok property rental sector.
“I think the aim of the law was to target serviced apartments, and I don’t believe the intention of the Thai government was to target as many people as it has.”
“The law is unfair to owners, in my opinion, and for owners with less than five properties it has created an unfair advantage as they do not need to apply to the law in the same way as professional landlords with five or more rental properties.”
“It would be better if the same rules applied to everyone,” he concluded.