FAQ's about The Residence Hua Hin
If we decide to buy a pool Villa, what are the restrictions on reselling the property in the future?
Non, you are free to sell your property at any time, although we would obviously need to know, as the ownership papers/account would need to be amended.
What exists for “storage” space in the villas? When I once had a rental-income property in Florida, there was one locked cupboard (good size) where owners could leave personal possessions while they were not in house.
All units have a lock up storage cabinet in the master bathroom.
Does the bottom line cost include legal fees for the lease, insurance costs, utility costs, etc.? That is, what is missing from the information that already exists on the website?.
Nothing. All fees are included in the sale price, our anual Insurance against damage/fire etc is included, and is deducted from your income share.
Do you think there would be any way to negotiate memberships (or very good playing privileges) at Palm Hills for those of us who purchase the villas?
Yes, we actually give all buyers a number of rounds FREE at Palm Hills Golf Course ( green fees ) Please also see Owner privileges for details. We also offer special discounted rates at Hua Hin's Other golf courses, which can be booked with our Reception staff!
Does information exist anywhere on the legalities of the 30-year lease?
Yes, here : http://www.thailand-lawyer.com/land_lease.html
Can you tell us about long-stay visas? If we were planning to spend winters there, in retirement, would we be better off (during those 5 ½ months) to do “visa runs”?
check this out on www.thaivisa.com but seems likely that visa runs would be the best option
Is the income taxable in Thailand, if yes how?
As you have a ‘lease’ agreement you are not liable for income tax, but the nightly room sales will be taxable at 7 %, and this will be automatically deducted from your Villa income ( inc maintenance fee ) If/when you are personally using your Villa, there will be water/electricity charges. The Residence management will take care of the taxes etc.
Are the Villa's owned by GOS or myself?
The Land is owned by Residence Corporation Co.,Ltd, and the Villa/land is leased by you. ( officially registered) by you, so we have to have a written contract agreement between us that we cannot claim the land, and you cannot build another 2 stories on top. You are free to sell your Villa on at anytime, although we would obviously require notification for change of papers etc.
I take it that a majority of the guests are coming from your company, are there any guarantees regarding the income figures?
Actually (just) before the downturn in the world economy we had a set of Villa room rates that were very attractive for the investor, but of course everything has changed slightly over the last 12 months or so, but we have presently revised the room rates to go with the current trend, which is both very attractive to the tourist/traveler staying in such a nice environment, while the owner still enjoys a healthy income.
Will there be a management committee who will oversee maintenance ( and all other ) issues The key question here is what influence will owners have on the management and upkeep of the property, on the use of the reserve fund, etc. Will there be an “owner’s council” or other such entity to liaise with the Residence?
The Residence has an in-house management team ( offices are behind the reception building) and we take care of all maintenance ( and all other )issues, as obviously we are running this property as a ‘Resort’ so we have people on standby 24hrs, ie an A/C unit breaks down etc, this has to be repaired immediately.
Can Villa owners put any of their own furnishings in the villa and how would those be protected?
Some furnishings would be OK, to make them ‘homely’ but we would like small personal items to be locked up in the storage lockup when you are not using your Villa. We will try to maintain as much ‘personalization’ as possible, and hopefully visiting clients will appreciate, and respect this too, but we would not want to be liable for small personal items.
Can a villa ownership be transferred in the event of death etc?...
Yes, the Villa ownership can be transferred to a next of kin, or a named family member/person.
If a Villa owner wants to “book” his / her villa, how much in advance would he / she have to do this?
Depending on bookings and time of the year, just a few weeks before is fine, but the more notice we have the better, especially as we are constantly marketing the Resort to group bookings etc.
Please feel free to contact us to ask more at : firstname.lastname@example.org