Answers - Real Estate

The other day I had a call from a rather worried owner of a lovely property in a great central location about why her property hadn't been rented out for more than 12 months. These are some of the tips I suggested:

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

I mentioned that the key ingredients for a tenant are not the same as those for a landlord. The tenant is more inclined to take at the interior of the unit, the size, and of cause the asking amount.

For the rent i

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

Bangkok, common annual rental returns for a condominium unit normally fall within 6-7% of the value of the unit. After allowing for common are maintenance fees, agent fees and repair costs, you may be looking at ne

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

arer 5% or 6% per annum as a net figure. However, just because you've paid 18 million baht for your 150 square metre condominium unit doesn't automatically mean that you can charge 100,000 baht per month for it. A

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

rospective tenant may feel better staying in a serviced apartment building with all the extras for a similar price. The above percentage figures can be used as a guideline, but some landlords are asking over 1,000

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

baht per square meter per month. Just because you know of someone who rented out their 40 square metre condo unit for 40,000 baht per month doesn't mean that you will. Most prospective tenants look around before th

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

y sign and have a good idea of the going rate.

The location is, of course, also important for rental rates. Ekamai BTS station may be 2.04 km from Phrom Phong BTS station and it may take three minutes and 25 second

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

s to get from one to the other, but for many tenants Ekamai is out in the sticks. If you know the area, then you may disagree. Given that the location, or even prospective tenants' perception of the location, can g

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

eatly influence rental amounts, there is nothing wrong with seeking advice from an estate agent with experience, even if they do tell you to drop the asking rent by 20%.

Probably the most highly erroneous area for

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

landlords in Bangkok is the interior decoration of the unit. Most prospective tenants do not favour old formica-fitted wardrobes, fitted dressing tables, fitted beds and fitted TV cabinets. Not that there's anythin

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

wrong with fitted furniture, it's just that when the furniture has been ravaged by 10 years of tenants who as it's not their furniture, don't mind leaving a few scratches, it tends to look pretty ghastly. Smelly ol

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

d carpets also don't go down that well.

If you own a condominium unit and wondered why you haven't had a tenant for 12 months, maybe this could be the reason. If you needed to spend 360,000 baht on a make-over, an

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

had missed out on 12 months of rent at 30,000 baht per month, then you would have made your money back by now. Not only that, you would have an attractive unit that would do you for a few years more.

A nice renova

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

tion would also increase the sales value of your property. You may need to give your property a makeover every three to five years. A good estate agent should be able to advise.

Generally, most tenants want fully-f

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

rnished units. You may be kidding yourself by keeping your unit unfurnished, thinking that you might get at tenant who doesn't want furniture, and save yourself some money. If your rent is 60,000 baht per month tha

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

t means that every week the unit is empty you loose 15,000 baht of rent. You could buy a nice piece of furniture for that. In any case, a non-furnished unit will not look anywhere near as appealing to a prospective

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

enant as a furnished unit, even if they have their own furniture. Sometimes it's difficult to use your imagination in an unfurnished unit to determine what furniture should go where.

As for unit preparation, small

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

er touches make a big difference. A plain mattress does not look as nice as a bed with nice duvet and pillows. Even if you don't offer the unit with the duvet and pillows, they don't cost much and these little touch

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

s can make all the difference.

Get some nice warm lighting. A few modern stand-alone lamps look much nicer than a daylight fluorescent tube. Make sure that the lights and air conditioning are all turned on for whe

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

n the prospective tenant walk in.

Some landlords even lay the dining table with cutlery and crockery. Why not? I would bet that these landlords are more successful at finding tenants than the smelly-carpet landlord

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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