For those who are seeking for apartment valuation. First of all, the apartment is considered one of the mutual residential buildings, similar to a condominium according to Thailand’s law and regulation. The factors that should be considered in fundamental laws are the number of rooms, construction permission requests, monthly and daily rent, or a type of apartment that serves full service, also known as ‘Serviced Apartments.’ At the same time, the factors that will use to consider the market rental fee are the size of rooms, air-conditioned or non-air-conditioned, housekeeping services, and other facilities. Revenue is generated through services provided. Hence, valuers usually adopt the income approach method, also use in business valuation. Usually, a particular need of the clients is to study the other forms of utilization, also known as a transformation from ‘Existing Use’ to ‘Alternative Use.’ In this case, an alternative use can be a Hotel Service Apartment, and to be able to do this, which type of operation license should you request?
Last but not least, please refer to a list of documents that are needed in apartment valuation below:
- Land document of right where the hotel is located
- Construction permit
- Building plan
- Plan showing the location of the building
- Apartment business license/permit