How to Underwrite a Thailand Rental Investment: A Simple Net Yield Model

Start with conservative assumptions

Use realistic occupancy and pricing, not peak season numbers.

Net yield model

• Gross rent
• - Vacancy allowance
• - Management fees
• - Maintenance + sinking fund
• - Utilities (if included)
• - Refurb reserve

Decision rule

Only invest if the net yield works on conservative assumptions and the exit plan is clear.