Tips on Buying a Condotel as a Rental Residence

Premhouse.com JAKARTA | Question: Do you have any tips for evaluating a condotel purchase as purely an investment property? The one we are looking at is in a new multi-use redevelopment project in downtown Branson, Mo. — Clyde Burnett, Little Rock, Ark.  

Clyde: “Condotels,” also known as “condo hotels,” are typically condominiums in resort or downtown communities. A condotel looks and feels to visitors like a hotel or resort, but in these resorts, individuals have the opportunity to purchase individual units. Unlike a timeshare, where buyers pay for limited use of a resort, buyers of a condotel own their residence outright and can stay in it, rent it out, or sell it according to their own wishes. In these communities, in-house management companies rent out the units on behalf of their owners in exchange for a percentage of the rental income. 

Condotel owners and their renters often have use of the resort’s amenities, such as concierge, fitness and spa services. Whether an owner can use the amenities while a renting guest is staying in the unit depends on the rules of the particular condotel development. These condos make up a relatively new investment category and account for less than 10% of all vacation homes and investment properties in the U.S., according to the National Association of Realtors. Owning a condotel differs from buying and managing a condo in several respects, says Joel Greene, president of Condo Hotel Center in Miami, a real-estate agency that specializes in the sale of condo hotels throughout the country.

Property Investment | Indonesia’s Law on Foreign Ownership of Property: What are the Changes?

Premhouse.com JAKARTA | On 28th December 2015, Indonesia put into effect a new regulation stipulating revised and newly-introduced rules on property ownership for foreigners. The Joko Widodo administration last year hinted at a complete regulatory revision to the now defunct Government Regulation No. 41 of 1996 (See Indonesia Opening the Door to Foreign Ownership of Property). While the new regulation – Government Regulation No. 103 of 2015 regarding the Ownership of Homes or Residences by Foreigners Residing in Indonesia – sheds light on the legal rights for foreigners seeking to purchase a home in Indonesia (See Ownership of Homes or Residences by Foreigners in Indonesia), it is not considered a groundbreaking policy. 

Though Government Regulation No. 103 of 2015 clears up several ambiguities that plagued the original law on foreign ownership of property including eligibility requirements and inheritance issues, property consultants and industry analysts remain underwhelmed. The primary criticism of the regulation is its failure to allow property purchases by foreigners residing and working outside of the country which therefore limits the potential of Indonesian property as an investment vehicle.

Tips | Good Communications is the Key to Being a Good Property Manager

Some people are just great at organising things and people and are also great communicators and these are two of the many requirements that you need to be a great property manager. If you are looking into becoming a property manager you could earn between £15,000 and £40,000 a year depending on your skills and location, with the option of earning more than this if you are in an area of elite properties with rich clients.

Ideally you will need some experience in the business, whether that be through being a landlord yourself or maybe from being an estate agent or a project manager for a company. As well as properties you might also be asked to manage land as well and this could be arable farm land, forests or industrial sites and hence you will need to be a good all rounder who can diversify their talents. As a property manager you will be required to oversee all aspects of managing a portfolio of properties, from dealing with the client as well as dealing with the tenants which means that you need to be a great communicator and be a people person, in other words, you must be able to deal with difficult people and problems that might arise. In addition to clients and tenants you might also need to communicate with professional people such as legal solicitors and land managers in order to provide the best service for your client.

What Makes a Good Property Manager?

If you are letting out a property you might want to think about hiring the expertise of a property manager as they can save you money and reduce your stress levels. If you have not heard of a property manager here is a quick guide to finding a good property manager and what services they provide.

Property managers are people that are able to offer help and advice to landlords of privately owned properties. They are particularly valuable if you are located far from your rental property or if you own multiple properties that require a considerable amount of time in order to maintain them and manage them.

Property Maintenance is One Element of Property Management

If you are new to being a landlord you might find some aspects of the job easier than others. Property maintenance is often one of the tasks that can seem quite straightforward with renting a property as long as you are have a good knowledge of your local tradesman. If you are renting out a property that is not in your local area you might want to get the help of a property management company that will be able to handle this aspect of your rental property.

Initially when you let a property out you should always make sure that it looks in the best condition so that you will attract the best tenant for your property. However, over time the appearance of the property can deteriorate and this could lead to your tenant being unhappy with the property and deciding to move out.

Tips for Expat Moving to Jakarta

Sharing more info that may be useful to expats moving to Jakarta. I want to be honest about some of the things that we experienced when we moved to Jakarta in the hopes that it will help other expats who are moving there as well. There are some things that we had to do that I’m not so proud of, but we had to adjust to the culture of “giving tokens” or “tipping” quite a bit. (I am of course putting this politely). More info after the jump:

WHERE TO GET LIQUOR

• BRINGING IN BOTTLES WITH OUR SHIPMENT: Being Diplos, we thought that we would be able to bring a few bottles of alcohol duty free into Indonesia with our shipment. We had a small box of about 10 bottles, left over from our despedida or going away party. We know that diplomats from other country are able to bring in wine and beer from their countries via diplomatic cargo for personal consumption and entertaining so we thought it wouldn’t be a problem. We were wrong. They delayed our shipment and we had to pay more just so they would release it. I don’t know if this applies to countries with more political clout, but looking back, I would have left the bottles rather than had my shipment delayed and give them a reason to ask me for money.
• BRINGING A BOTTLE WHEN FLYING IN: Each person is allowed One 1Liter bottle of sealed alcohol coming in so usually our expat friends bring a bottle every time they fly back to Jakarta or they request their friends who are visiting to bring a bottle.

Investor or Speculators?

When would be taking a decision to become an investor in property industry, which typical characteristics possessed by an investor that you should have? What kind of investor profile that is good?

As an investor, are you a person who tends to speculate or doubtful type? There are many people who want to become property investors but they only keep thinking of it and finally never take any actions. Or you are probably a person who likes spending money quickly without thinking any longer and this makes your investing decision become a failure.

Gary Keller, an author of Millionaire Real Estate Investors, used to conduct a research about people who are interested to be the property investors and based on this result, he divided the types.

Strategy to Assess Property

The trend of property industry this year is surely predicted turning to be bullish on early second half of recovery time towards the peak period. In other words, this is the right time for investors to buy, before the price of property is reaching higher, so that they will be able to get high capital gains later.

                                                                                                       

However, it does not mean that the developers may sit nicely only waiting for the buyers to come. Before the bullish sign appears, they must be prepared for anticipating with some proven strategies. According to the capital market observer, Jimmy Dimas Wahyu, there are several issues that must be considered. Among others are to ensure that PREP (product, reputation, engagement and performance) are good.

Elite Housing Area in Menteng at Central Jakarta

Menteng area which close to Jl. Thamrin and Jl. Sudirman, is known for Dutch colonial era mansions. Hence there are a lot of houses that considered as historical landmarks. In this area you can old buildings for bank, business district, besides the embassies, ambassadors' residences and other senior Indonesian officials. Menteng with an old infrastructure, surrounded by tall and shady trees and narrow street, is such a prestigious area and therefore the rents are high. Listing of house for rent or house for sale are available with large size in convenient area. 

Menteng remains being popular for the housing much with the upper-class elite and ambassadors where the house of former President Soeharto was living ad yet his family is still there. The location of Menteng is so full of historical moments for Jakarta. Hence, living here can be quite expensive for certainclass of society. The environment here is a bit less of crowd, even tends to be quiet, with the trees and green garden around at city park and fountain.

Excellent House for Rent! Let's Visit at Townhouse Mutiara Jakarta!

Are you looking for a beautiful house that can be used a your home-office as well? Let's check this one of our properties! A Townhouse is a type of home that's usually constructed as a two or three-story unit with a common wall or walls bordering the adjacent unit. The common form of ownership is similar to a condominium project in that the property owner not only owns his or her respective unit, but also an undivided interest in any common area. 

Overview of the Booming Residential Property Sector of Indonesia

Indonesia's residential property market has shown robust growth in recent years as demand from the country's rapidly expanding middle class for mid-level and luxury property increased steadily amid a low interest rate environment and robust national economic growth. Demand for property is also backed by high consumer confidence as a recent Nielsen survey shows that Indonesians are among the world's most confident consumers. Indonesians' consumer confidence was at a four-year high in the fourth quarter of 2013.

6 Critical ‘Musts’ for Every Real Estate Investor

If you want your money to work for you, follow these rules! Investment in any industry isn't easy and real estate investment can be particularly challenging. Here are six things you need to get a handle on before you start pouring money into a real estate investment.

Effective Tips in Finding Property During Expo | Indonesia Property Expo 2015 at JCC on February 14-22

Jakarta | Kompas.com - Indonesia Property Expo 2015 in Jakarta Convention Center (JCC) has been being held from Saturday (14/2/2015) to January 22nd 2015. For those who have been looking for a house, there are many ways to find some references. In example, you can use a property search portal or go surveying the location of your dream house.

But please remember, there is another one way to get the information about the houses, i.e. to visit a property exhibition. This exhibition is usually held in particular period of time by respective parties, e.g. the government, developers and banks.

Residential Lease Information

Alternate Names 

A Residential Lease is sometimes called a:

- Tenancy Agreement  
- Rental Lease Agreement  
- Lease Form  
- Rental Contract

What is a Residential Lease? 
A Residential Lease agreement is a form that both the tenant(s) and landlord(s) negotiate and sign when the tenant will be renting property from the landlord.

Property Industry to See Positive Growth in 2015

The surge in the middle-income bracket is predicted to have a positive impact on the growth of property in 2015, also favored by the development of much-needed infrastructure, such as toll roads in several regions. 

The prospects of the Indonesian property industry for 2015 are predicted to remain positive, driven by demand for products catering to the middle-class segment. The middle-class segment in 2015 is expected to grow to 90 million people, reflecting high purchasing power, according to an analyst.

The population grows 1.49 percent annually, leading to rising demand for residential property. “However, discrepancy between supply and demand for residential property reached around 15 million units in 2013,” the analyst said in a discussion themed “Housing Estate-Property Prospect and Business Opportunities 2015” held by Kompas.com recently. 

Branding in Property | Intagible Asset of Property Industry

Pakuwon Jati Tbk (PWON) gains its capitalization value in worth of IDR 24.8 billion per December 2014. It expresses 5 times of ratio value between market capitalization and book value (P/BV) or precisely 4.99 times, based on the stock price per 1st December 2014. In other words, the book value of this company, i.e. the total assets which deducted by loans - or capital plus profit - is about IDR 5 billion, while the value of company is around IDR 25 billion.

If you buy PWON shares in stock-exchange market, it means you pay for this company in worth of IDR 25 billion value per December 2014. The value of the intangible assets of this company is 4 times of its book value.

Jakarta Shapes Up to be Asia's Hot Property Market

Cashing in on Jakarta's hot property market 02:43

In the Indonesian capital of Jakarta, not even the notorious traffic congestion can slow the voracious demand for property. Roughly 10 million people live within the urban core of this vast city while a further 28 million populate the suburbs. With affluent cash-buyers and local businesses driving the housing market at a rapid pace, anyone with a hope of climbing on the property ladder has to move fast to secure value.

"The prices go up really quickly," said Afifa Loutfie Abdousaalaam, a local property investor. "If you think 'oh you know I don't have enough money now,' you're not going to then catch up with the race because property prices in Jakarta go up above 10% a year," Abdousaalaam added.