The king is head of the House of Chakri, the ruling house of Thailand founded by King Buddha Yodfa Chulaloke (or Rama I) in 1782. The monarchy and the royal family commands huge respect in Thailand. The present monarch has a great deal of popular respect and moral authority, which has been used at times to resolve political crises. The monarch's official home is the Grand Palace, however the present king lives primarily in the Chitralada Palace in Bangkok or the Klai Kangwon Villa, in Hua Hin. The monarch's household is managed by the Bureau of the Royal Household and his finances by the Crown Property Bureau.