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Showing posts from October, 2018

Renewing rental property contracts

Every 2 years, I have to renegotiate the property lease with the tenant.  If the tenant was good, I usually extend their lease - it's pretty much a no brainer, unless they're lowballing me. Costs to factor in when you switch tenants: Lost rental due to vacant property. It takes about 1 month (0.5 months if you're lucky) to successfully market the unit and about 2 weeks for the tenant to move in and start paying rent.  So it's about 1-1.5 months in lost rental income. Time spent passing keys to housing agents to market your place.   Do not use an exclusive agent, as it ties you down with someone with a finite network.  They will always try to sell you the idea of exclusivity (being focused, they can control the rent offers, blablabla), and it's in their interest to, not in yours.   What happens after 1 month of exclusivity and they still can't find a tenant?  You fire them, they walk away with no penalty.  It's your lost rental income.  D...

Hotel Review: JW Marriott Phuket

As I travel quite often for work, I’m going to keep a record of all the hotels I’ve stayed in, to serve as a reminder of what works and what doesn’t. It’ll make future bookings much easier. Location: Situated on Mai Khao beach within the luxury resort cluster, about 20min drive North of the airport. It's a great location if you plan to spend majority of your time in the resort, as the cluster is self sufficient. Not a good place if you want to explore phuket town as it's quite far away. It's located next to Mrs EOR's favorite resort, Sala Phuket & spa. Room: Has this old school Thai decor, heavy in Cherry wood tone and the floor is tiled. I prefer carpets as it provides a plusher feel and better sound dampening. The bed is firm and comfortable to sleep on, although the aircon smells musty even though I turned the temperature lower. Furniture in the room is dated, I'd say about 15-20yo, but this was probably the in thing when the place was built. Gym: Ther...