The rental process in Thailand is much more straight forward than in many other countries such as Japan or Singapore if for no other reason than there is generally only one agent/agency dealing with your property. Agents in Thailand work both sides of deal, acting for both the owner of the property, and the potential tenant, again, unlike many countries where each party has their own representative.

So, first things first, you identify an agent with which you would like to work, and let them know your criteria for property selection. Generally, the most important criteria to consider when looking for rental properties in Bangkok are:

· Proximity to children’s school

· Proximity to parents workplace

· Proximity to lifestyle pursuits for the family.

· Type of property, e.x. Single detached house, Townhouse, Condo or Apartment

· Whether pets are acceptable should the potential tenant have them

· How many bedrooms are needed

· Whether furnished or unfurnished accommodation is required

· The budget that the agent should work within

· Any other important information that would help the agent select suitable properties for your viewing days should be given, even if you think the information may be insignificant.

Once all this information has been garnered by your agent, they should send you a shortlist of properties which they think may be suitable for your needs. You should peruse this list to ensure that the agent is working in the correct ballpark for your wants and needs before heading out to view properties which may be unsuitable. This first step is where many agents fall down and when you find out whether your agent is worth their salt. You will be surprised by how many agents out there do not take into account this information and then go ahead and waste both their own time and that of the client by showing completely unsuitable properties.

Once the shortlist has been prepared, the agent should make an appointment with you go to view the selected properties. Most reputable agencies will pick you up in their own vehicle from your hotel or wherever you may be staying, and drop you off back their after your viewings have finished for the day. Your route and timings will be planned to be the most efficient route around the properties which have been selected to view. Normally, from mid morning onwards is the best time to a viewing if there are 4 or more properties so as to miss the morning rush hour traffic, and return before the traffic deteriorates during the afternoon school run from around 3.30pm.

When viewing the properties, make sure you take lots of notes as to the positives and negatives of each, relevant to your needs. Your agent should not be very vocal during your viewings unless you wish them to be. Viewings for rental property are very different from the buying process. They shouldn’t be trying to sell you on a particular property; rather they should be showing you the features of each and letting you make up your own mind. Main things to check when renting property are:

· Water Pressure. If its low, there probably isn’t a lot than can be done about it!

· Air Conditioning. Make sure it is relatively new looking, not noisy and does a good job of cooling the room.

· Check the land plots nearby. Is there any construction ongoing or possible construction sites which may interrupt your enjoyment of the property.

· Who are the neighbors?

· If pets are allowing on the property, what pets do other keep?

· What is the access to the property like? Is there more than one route to access?

These really are the main points, and these are the things which really cannot be changed. Any other small defects which you may find can generally be repaired/fixed along the way, or before you move in, but any of the above are beyond your control.

You don’t have to limit yourself to one day of viewings. This is a personal preference. Some people are more than happy with the first property that they view and make an offer on it right away, while others want to view every available unit in Bangkok! We at Bangkok Finder generally recommend seeing 6-8 properties which match your criteria. We would recommend however sticking with one agent, whoever that agent may be (See related article for explanation to this).

Once you have found a property which is suitable for your needs, you should instruct your agent (verbally is fine) to go ahead and make an offer for the property. Your offer should be a monetary offer, along with a list of any improvements/additions which you would need made to the property, and a tentative move in date. Once armed with this offer, the agent will immediately contact the owner with your offer. Obviously, the owner may counter offer, but in nine times out of ten an agreement is generally reached very quickly.

Once the agreement has been reached verbally, the agent will prepare a lease contract for the property on behalf of the owner. This contract should be in the English language. Check it thoroughly. Standard terms should be prevalent. These would be:

· Lease term 12 months minimum.

· Security Deposit equal to two months rental amount.

· Rent to be paid monthly, in advance, along with the bank account details to which the rent should be paid.

· Complete details of the owner of the property and their residential address, along with full name and passport details of the tenant.

Occasionally, you may see the lease agreement split into two documents, one lease for ‘property’ and one lease for ‘furniture’ or ‘fixtures and fittings’. This generally only happens with higher end property and is done to minimize the property owner’s tax liability. Once the lease agreement has been approved by both the tenant and the owner a date for signing will be agreed and all parties will meet, usually at the property to sign the lease agreement. This is a good opportunity to get to know the owner of the property. This is very, very important in Asia where first impressions count much more so than in western countries. If the tenant makes a good impression on the property owner, this will cement a good relationship for both, and visa versa. The lease agreement should be made in triplicate, with copies of the tenant’s passport and owners ID Card attached as appendices. One copy is for the tenant, one for the owner, and one for the agent’s files.

This contract signing meeting is also a good time to arrange the deposit payment. Bear in mind that Thailand is a cash economy, and credit/debit cards cannot be used for deposit/rent payment. The only forms of payment available are cash, bank transfer or cashier’s check. Make sure to have this process completed before your move in date, as most property owners will understandably not let tenants take possession of the property without correct payment having occurred already.

During this period between contract signing and move-in date, your agent should be helping you to arrange such things as Internet connections and cable T.V. There should be no charge to you for them to carry out this service, though they will ask you for the funds to pay each of the utilities upon installation.

Upon contract signing and deposit payment, the only thing left is to go ahead and move into the property on the agreed date. Normally unless you specify otherwise, your agent will meet you at the property on your move in day to present you with the keys, and also to compose a furniture inventory for the property. This document is very important to both tenant and owner as it represents the exact state of the property on the date of handover, thus eliminating any potential arguments at a later date.

At this point, it’s up to you or your moving company to get yourself moved into the house. Should you encounter any problems with the property, a quick call to your agent should have that problem solved immediately, leaving you to just deal with the important task of getting your things sorted out and getting yourself settled into your new home.

You should not hear form your agent for a couple of days when they should give you a follow up call to make sure that you are well settled in and that you have no problems. Of course, if you do have any problems, you should feel free to contact the agent so that they can get it sorted on your behalf!

Some important points to note:

· Do NOT start negotiating on more than one property at a time. Put your shortlist in order, and start with the no.1 property. If this deal falls through, move to the number 2 property. It sheds your agent and their agency in a very negative light should the landlord agree to your offer, only for you to reject the property anyway.

· Work with only one agent in the same way as the point above. Of course, if you lose confidence in your agent for any reason, move onto another one, but use only one at once.

· Remember, the services of the agent are completely free to the Tenant. The agents fees are paid as a commission by the property owner.

· Do not put in an offer which may be insulting to the property owner. Of course, there are some bargains to be had, but in our years of being in this business, I have never heard of a discount of 50% being given! Putting in a low ball offer is fine in the right circumstances, but don’t be offended if your agent refuses to lodge an offer which they deem as inappropriate.

· The negotiability of the listed prices differs massively from property to property and therefore we cannot generally say that these listed prices are negotiable by x%. Obviously, the longer a property is vacant, the more willing an owner would be to negotiate, however he still me be unwilling to negotiate at all if he has a desirable property which enjoys high occupancy rates.

· The minimum lease period of 12 months is NON-negotiable on the vast majority of private property in Bangkok, particularly Condominiums and houses. Serviced Apartments are the only places where lease agreements of less than 12 months are available.

So what next, after you have finally found that rental property that is perfect for you?

The first thing you should know is that properties change hands fast in Bangkok. Especially the good ones! I would imagine it’s the same situation in any big cities, especially when the apartment is popular amongst expats. So, when you have finally found that one property you like, try to stop yourself from wanting to see more “just in case there is something else out there” because from my experience, people always come back to the first one they like. Those who are decisive move in without a glitch, while others who hesitate a little too long end up settling for second best and sometimes, paying much more for something similar.

The first thing you need to do is tell your agent you want to go ahead with that particular property. You then need to decide what extras you need in the property and the price you are happy to pay. Then the agent can go off with your offer; and negotiate on your behalf. Once the rental price and extra items are settled, you need to arrange for an initial deposit, or what we call a “booking fee” to secure the property. Without a booking fee, either party can change their mind on the deal but for you, it means that the landlord can rent it to someone else while you are happily packing up for your big move! To prevent that from happening, the initial deposit required here is usually the equivalent to one month’s rent (assuming you are moving in within a month’s time) with the remaining to be paid just before you move in. This can be done once the contract is approved on both ends. Your agent will then arrange for a meeting where the contracts are signed and the booking fee paid. Once this is done, you are pretty much free to go arrange with your movers, cable Tv and internet providers. Depending on your lease agreement, this may either be installed by the landlord or yourself. The process is really quite painless but give yourself at least 2 weeks to get everything sorted and working in your new home.

If you are renting an apartment, which is owned by a single entity or business, chances are the contracts are not going to vary very much since these are very standard leases, thus you can quite confidently put down the deposit and then have the contract sent to you later. Most apartments are flexible on simple clause changes (within reason) but if you require a diplomatic clause included, it’s best you settle that before you put down the booking fee.

Once the booking fee is paid, remember to ask for a receipt. Your agent should make sure all this is settled before you go off and arrange with your movers. Unlike some neighbouring countries, where landlords often change the rental price AFTER a booking fee has been made, I am very happy to tell you that this does NOT happen in Bangkok. At least, not in my years of dealing with Thai landlords. Someone else cannot come along and offer a landlord more for their property after you have put down a booking fee for it, regardless of whether the contract has been signed. Apparently, this is not the case in countries like Singapore, Hong Kong and China. A client of mine who just moved from Singapore told me that they had a landlord who raised the rent on them three times, after a deposit has been made only to rent it to someone else after my client refused to go any higher after the third increment. Of course, they got their deposit back, but this should not happen at all especially when an agreement on price has been made! Thankfully, it doesn’t work like this here.

The standard security deposit in Thailand is two months, plus a month’s rent in advance. Therefore, you pay three months upfront when you move into a new premise. You are entitled to have that security deposit returned to you at the end of your lease term, provided the property is handed back to the owner in good condition, taking into account normal wear and tear. Should you terminate the lease before your lease expires, the landlord shall have the right to retain your deposit unless you have a diplomatic clause in place. However, a diplomatic clause is only applicable in case of overseas job transfer, termination of work or political crisis, and requires company supported documents as proof. You not liking the place you rented does not render that clause effective!

A diplomatic clause will always require a minimum stay of at least 6 -1 2 months, depending on the apartment and owner, before it can be applied in any case. Thus, if you are transferred overseas after only 5 months stay in a rental property, your deposit will be forfeited even if you have a diplomatic clause in your contract.

Please bear in mind that the above information applies for long term rentals in Bangkok, Thailand. If you cannot sign a one year lease, then your best option is a serviced apartment that works like a hotel but more suitable for long term stay since it has some sort of pantry and a little more space. 90% of apartments, condos and houses in Bangkok require a minimum stay of one year minimum. A main reason is because every time a tenant moves out, the entire unit has be repainted and renovated before the new tenant takes over. Thus, you can understand why no one wants to be doing that every few months when a tenant moves out.

Majority of condominiums and houses for rent in Bangkok do not come readily with internet connection. Usually, this is done by the tenant in his/her own name and is easily obtainable by submitting your passport and work permit, along with a small installation fee. Not unless it is a serviced apartment which works pretty much like a hotel or you happen to be one of the lucky minority who has a landlord who understands that internet is not option but a necessity in this day and age. Some of us are not so lucky; and what you need to know is that this is the norm in Thailand and not something to fret about. Here’s what you do…

Basically, there are two main telecom companies in Bangkok – TOT and TRUE. The latter is government-owned and definitely the larger of the two, with almost every home in Bangkok installed with a TOT phone line. However, this is not to say that TRUE is in anyway inferior to TOT. In fact, the only way you’re going to get TRUE broadband, is through a TRUE line and TRUE is currently the biggest and most popular ISP in Bangkok.

There are a host of ISPs in Bangkok that use TOT phone lines i.e. CS Loxinfo, Buddy Broadband, KSC internet and yes, TOT which also has their own broadband service but a common problem faced by TOT users in older housing estates (this includes many areas in Bangkok including Sukhumvit, Silom, Sathorn etc) is that the phone lines in these older estates are on the old analog system which affects the connection speed and there is nothing TOT can do about it. Your only option is to get a new digital phone line installed, preferably by TRUE. However, here’s the other problem….

Bangkok is seriously short of new numbers, and this includes many areas in the CBD. Thus, applying for a new line from TRUE or TOT can mean getting on a long waiting list, and patiently waiting for up 6 months. To avoid this catastrophic situation, make sure you first check that there is existing phone line in the house/condo you are renting. It’s much easier with apartments since they already have lines readily available for every unit, and all it takes is a week to get ADSL connected in your apartment unit.

This is also known as the UN clause and it is usually required in the lease agreement by multinational companies who may transfer their employees anytime from country to country. It should go something like this:

“Should the Lessee be compelled to leave Bangkok due to unforeseen circumstances beyond the control of the Lessee i.e. overseas job transfer, the lease may be terminated after completing a minimum stay of XX months on the premise, by giving 60 days advance notice in writing with supported company documents, and the deposit paid in advance shall be returned. “

Different apartments have varying policies regarding the diplomatic clause and will require a minimum stay, ranging from 6 – 12 months in order for this clause to be applied. Naturally, the more popular apartments tend to require a minimum stay of one year, regardless of a diplomatic clause. Same applies for condos and houses.

I felt the need to write this article after realising how many expats relocating to Thailand do not know how the real estate market works here, especially for rentals. The good news is, it’s a renters market.

1) Landlords pay the agency commission, not you! Aren’t we off to a good start already?

2) In Bangkok alone, there are hundreds if not over a thousand real estate agencies/agents to choose from. Just do a search on Google for real estate agencies in Bangkok and more than a quarter of a million pages show up.

3) Real estate agents offer their services for free, so you can engage as many agents as you want whether you are looking to rent or buy a property!

4) Majority of the agencies catering to expats have websites with photo listings and have English speaking staff.

5) As an expat, you pay the same rental rates as a Thai national. In fact, majority of landlords prefer an expat tenant and go the extra mile (sometimes) to get you to sign on the dotted line.

Now that you know all that, here’s what you wouldn’t normally know unless you are an agent here in Bangkok!

In Thailand, anyone can be an agent! There is no governing body or an association (with authority) that regulates the activities of agencies and agents on Thailand. Walk into a bar and tell someone, anyone that you are looking for an apartment, and chances are there’ll be a “freelance agent” somewhere in the midst to help you out. I don’t think there is any real harm in that as long as you are not required to pay them anything (the landlord does), except that you may be limited to inferior housing options since these are not professionals who can show you an array of places that best suit your needs or budget. That said, I do occasionally hear of some lucky fella who found a great deal through a friend’s friend who happened to be a “part time agent.” Anything is possible in Thailand!

Here’s how I see it. A real estate agent’s job is pretty much like a match maker’s. He/She needs to match You to the “right” property, and preferably within 8 selected options. I don’t know about you, but I do not believe in seeing as many properties as possible just to make sure I’ve covered every single, available unit for rent in Bangkok. 6 – 8 well selected choices seen within a day or two, is much more gratifying than spending days, if not weeks stuck in traffic jams trying to hit the 25^th property-viewed mark. Fact is, people don’t usually have an array of favourites to choose from (since not all the best ones will be available at one time) and I don’t think there is a “perfect” apartment or house when it comes to renting. You’d be lucky to have 2 top choices to choose from, but most of us usually settle for the place that feels most like home in a foreign country.

The other thing you should know before you line up a dozen agents for your showing is that all agencies have access to the same apartment buildings. Condo and house listings may vary from agency to agency but landlords often contact more than one agency to promote their property so nothing is exclusive to an agency here. Or should I say, rarely. Just surf around and you’ll find similar properties listed on multiple agency websites. Thus, arrange your viewing with one agency at a time. That way, if you feel that your appointed agent does not understand your needs, switch agency but tell them what you have already seen with your previous agent. It is only fair that only one agent represents you for each property. Bangkok is a small town, and many agencies practice co-broking to provide as many choices for their clients as possible, so your name will get around, especially if you’ve been agency shopping.

Another thing I’ve encountered is that some companies have what they call a “preferred agent” which they (strongly) encourage their expat executives relocating to Bangkok to use. More often than not, these are agencies with relations in the HR department who may understand what your HR wants but not necessarily what you want! What you and I call “Western standard” can be a totally different concept to some of them, so be sure to explain your requirements and needs to your appointed agent as thoroughly as possible to avoid wasting your time. You have the right to choose whichever agency that best understands your needs; and manages to find you that ideal home. You’d usually find that agents not appointed by your company tend to try a lot harder than these “preferred agents” because they don’t think you are obliged to use them. They work very hard to make sure you choose them over your company’s preferred agent!

There are also many real estate agencies in Bangkok that are run by foreigners and these are generally whom the majority of expats go to when looking for a new home. It makes a whole lot of difference when you have an agent who understands your needs, and knows exactly what you mean when you say “I want something spacious, modern and bright” versus trawling around day after day going from one cruddy apartment to another thinking “there has to be better choices than these in Bangkok!” but never finding it.

All apartments and agencies have pretty standard contracts. If you would like to view one, just email me and I’ll send it to you. Should you decide on an apartment, they will provide their own contract, whilst the agency will prepare the contract for private owners i.e. condos and houses. Read more about the difference between an apartment and condo. Multinational companies usually require a diplomatic clause, and if your company is paying your deposit, then they would also require an additional clause that states that this deposit will be returned to the company at the end of the lease term. All of which may be added to the lease (most apartments are pretty flexible here), and it’s your agent that needs to sort this out between your company and the apartment/landlord. It’s utter nonsense when someone tells you to use a particular agent because they comply with the company’s policies. It’s just a matter of working out what each party requires in the lease agreement, which I believe is same all around the world and any experienced agent will be able to do that.

Well, all the best in your home search. Thailand is a great place to live and Bangkok, in particular has many superb housing choices for expats that are reasonably priced compared to neighbouring countries i.e. Singapore and Hong Kong. Choose an agent who takes the time to understand your needs and you’ll do just fine, and feel free to drop us a line at 08 1750 6682 should you need any help.

Maddy Barber

Here in Thailand, properties, especially houses go under different names than they do in western countries, and for those of us from Europe, we are not as au fait with what exactly is a condominium. Here are all the residential property types.

Single House – in the west, we would normally call this a detached house. Always standing on its own lot of land, and generally walled or separated off from its neighbors in some way, these house types are usually the most expensive for rental purposes and purchase. Higher end houses may come with private swimming pools and other luxuries but you will pay a premium for these. Additionally, houses of this type, especially new or modern in style are very difficult to find in downtown Bangkok where the norm is an older Thai style house.

Townhouse – in the west we would normally call a semi-detached, or terrace. Usually these types of houses are found in “moo baan’s”, or gated communities though it is not always the case. If they are found in gated communities there is generally a full time security guard on site and there may or may not be a communal swimming pool. Houses of this type are more frequent in the downtown area of Bangkok, though there are only a few new developments of this type, and many older, more tired looking units.

Shop house – in the west we don’t have an equivalent! These are the types of units that you see both sides of the roads and soi everywhere in Asia. Originally the idea is Chinese, but it is basically a ‘terrace’ type of unit with 6 or 8 or more shop houses all in a row. The shop is on the ground floor, or street level with the owners living quarters generally being on the floors above. Many Thais live in this type of accommodation, and use the ground floor as their parking garage while again, living above. Generally speaking, units of this type are not very suitable for a foreign family dwelling due to the single skin walls, and plenty of traffic noise from the streets outside, though there are obviously exceptions to this rule.

Apartments – These are generally units built in a block, generally low rise, but there are some high-rise examples available and the whole block is owned by one entity, be it a company or a family. Being owned by 1 entitiy, the utilities are therefore paid for by one entity so there is usually a surcharge on utilities i.e. water and electricity. Normally, in apartment buildings the Common Area Maintenance fee is not applicable as this has already been factored into the rent, and all repair and maintenance is free-of-charge. Generally a swimming pool and full security are provided on the site, with a fitness room being available at some (actually, majority of the) buildings.

Serviced Apartments – Very similar to the regular apartments but with hotel like amenities and services, this type of accommodation will offer restaurants on site, maid service to your room, linen changes, a small cooking area in your kitchen with utensils, and towels and other disposables will be provided. Again, there will generally be a swimming pool and full security on site, and nine times out of ten a fitness room but you will pay a big premium for those extra services. Occasionally, utility bills may be included in the rental package, but that is dependent on the individual building.

Condominiums – in the west, called Condominiums! Very similar to an apartment block, these units are generally in a large building, but with each one of the units being individually owned. There are a vast majority of condominium buildings in Bangkok with an equally vast range of pricing, but this is the only type of property available for freehold acquisition to foreigners and many are targeted at that market. Unlike apartment buildings, the utilities do not carry a surcharge and the bill generally goes direct to the tenant from the relevant issuer, however, there may be a Common Area Maintenance fee to pay monthly on top of your rent payment. This is something that should be negotiated at the beginning of your lease contract. Don’t let it come as a surprise later on! These buildings again generally have a swimming pool on site, sometimes along with a fitness room and certainly are well guarded by security. Some of the new, Grade A developments on line now in town are very luxurious, with facilities akin to a 5 star hotel! Do take a look at the management of the building though as Management Companies are generally employed to take care of the building and its facilities. These companies range from excellent to less than adequate, and if they don’t keep up to the maintenance, the building will start to look very tired, very soon.

I bet many people wonder if it is cheaper to go direct to the home owner instead of going through an agent when renting. Well, I used you wonder that myself when I was a newcomer to Bangkok many years ago; and that is why I decided to write this post.

Truth is, sometimes it is cheaper but 95% of the time, it is not. There are some Bangkok apartments that have different rates for agents and direct walk-in customers. Out of the hundreds of apartments we represent, I have only come across 2 such places that actually have a higher rate for agency clients, and I can tell you that these are apartments we at Bangkok Finder (and I believe many other agencies) do NOT deal with because that is simply not fair for the client. Things get out and eventually the tenant will realise that he paid a higher price than his neighbour and no agent wants that on his reputation no matter how mercenary you think we are!

In fact, most times I believe agents can get a better deal for the client if they wanted to. Put it this way, the agent usually has a very good idea how low the landlord will go. As you may already know, Thailand is all about relationships. They like you, they give it to you. Same applies for real estate. If the landlord likes you or your property agent, you have a much better chance of getting a lower price than someone with a higher budget but has an agent your landlord does not have a connection with or you didn’t leave much of an impression on the landlord.

Many times, after a viewing where the client takes the time to make conversation with the landlord and tell them a bit about themselves, the landlord will actually call me and tell me how much he/she likes my client and would lower the price to suit my client’s budget. I have also had landlords who would hold out for another tenant simply because they didn’t like the agent and along we came and deal closed! Money isn’t the most important consideration in this country. Relationship is, and that is why it is so important you read on so you know how to get the very best deal in Thailand.

After you have rented a place, it is even more important for you to establish a good relationship with your landlord because again, if she likes you she will concede to most, if not all of your reasonable demands in the future or she could make your stay living hell. So, how do you ensure that? Unless your landlord speaks absolutely no English, try dealing direct with her instead of your agent during your tenure. Majority of landlords enjoy talking to they tenants and finding out how they are doing in their new home. It makes them happy to hear from you, especially if you love their house and are enjoying every minute of your stay there. Should there be trouble, they will make sure that you are kept happy under their rented roof.

Always pay your rent on time! I cannot stress that enough because so many people choose to pay later than on time just because there is a 5 – 14 days allowance in the lease agreement. This is even more important during the initial period of your tenure. Think about it… if you are always on time with rent payment, when you are actually having problem with your finances, your landlord is more likely to be understanding about it than if she has to chase you for payment every month. Never let the landlord call you regarding payment. Always make sure you inform her beforehand should payment be late. Do that, and you will have a long pleasant stay in your new home. Pay late the first few months, and your relationship will be strained from the very beginning and you don’t want to do that here because they never forget it. Never.

I think I’ve sort of gone off tangent here haven’t I? Sorry, I just thought it was important to mention all that. Now back to the topic “Is it cheaper to rent direct?” It really depends on your agent but it should not. I can confidently say that our clients have always paid the lowest rates when I negotiate for them because that’s what I do best. Shameless, I know but it’s true. Also, when you rent through a property agent, we do everything for you. We drive you around, negotiate for you, prepare the contract for you and basically be your punching bag should things go wrong. So, from the way I see it, the client always wins when you go with a real estate agency; and a good property agent. Needless to say, Bangkok Finder is all that and more

Good luck and happy home hunting.

We recently found this amazing house on Sukhumvit soi 56, just 10 mins walk to On Nut BTS station and within a day, rented it to a lovely couple who was having trouble finding a house that would accomodate 4 dogs! Ok so this is only a 2 bedroom house, but imagine 1 rai of manicured garden, large seperate maid’s quarters with 2 maids’ rooms, maid’s own Thai kitchen and a shed that could be converted into a seperate study/office. Then imagine it for rent at only 50,000 bht/mth. (We managed to negotiate the rent down from 60K)

Now, I am sharing this story because I know of many people who are trying to find that perfect house, be it for themselves or their pets and this takes time, patience and some luck I suppose. This couple actually contacted us weeks before this house was even available for rent, and the minute something suitable came up that was within their budget, we gave them first option to it. So sometimes you need to be patient in order to find the right house.
Again, I’d like to add that if you are looking for something amazing, and do not want to pay prime rates, consider places i.e. Phrakanong, On Nut or Mo Chit. A house like this in Thonglor would be asking A LOT more than 50,000 bht in rent and seriously, what is an extra 3 stops on the BTS?

Did I tell you the house is newly renovated too and comes fully furnished with brand new, quality furniture? The landlord even has a gardener that comes by once a week to groom the fields!

Many people ask, “what’s the difference between an apartment and a condo in Bangkok?” Well, condos are individually owned units whilst an apartment is a block of rental units owned by a company, family or individual.

There are, of course pros and cons to renting an apartment over condo and hopefully this article will shed some light on the apartment versus condo rental issue, and help you with your final decision.

Rental prices

When it comes to price, I don’t think it differs very much whether it’s an apartment or condo. The rental rate is usually determined by the location, age and grade of building, size of unit, number of bedrooms, facilities, décor and furnishing.

For a guide on what your rental budget will buy, click here.

Utility bills.

Now, this is where the main disadvantage lies in renting an apartment over a condo. Apartments tend to have a minimum charge for water (usually around 1000 baht per month) and a surcharge on electricity (around 5 – 6 baht a unit compared to the 3.5 baht charged by the MEA). All this can amount a hefty difference in utility bills at the end of every month.

I live in a 3 storey townhouse with a family of 6 and my water bill has never exceeded 500 bht a month, ever. We do a lot of washing and drinking too!

Building management fees

These fees apply more for condominiums since apartments have already accounted for their operating cost in their rates. This is usually around 40 baht per square metre and most of the time; this fee has already been included in the rent. However, if you got you a really good deal i.e. a nicely furnished 95 sqm 2 bedroom in the CBD for 25,000 baht/month, then it’s likely that your landlord will not be paying the building mgt. fee for you. I think that’s reasonable enough.

Others

At the end of the day, whether you are renting an apartment or a condo, who you rent it from is extremely important. With condo owners, I feel that it’s a lot easier to negotiate on the rent since these individuals can be more flexible, compared to an apartment which charges standard rates that are usually non-negotiable. However, finding a suitable condo for rent is a little trickier on your own since you’ll have to know where there is a unit for rent and the owner’s contact. That is where property agencies like Bangkok Finder can help you.

The other thing is maintenance. It’s definitely a lot more convenient if you are living in an apartment since there is usually an in house maintenance guy hired by the building at hand. However, I know of many condo owners who take very good care of their property and have their own handyman who usually respond within a day. The cost can be foot by the landlord or the tenant depending on the initial agreement. Again, the cheaper the rent, the more you’ll have to account during your lease tenure.

Apart from that, apartments and condos offer 24 hour security and feel safer for most, compared to living in a house. There is also NO chance of flooding inside your home, which is a major concern for most people looking to rent or buy in Thailand.

That’s about it really! Ready to start your search? Here are apartments for rent and condos for rent in Bangkok.

The Bangkok property market remains in line with overall Asia-Pacific trends, according to the latest Jones Lang LaSalle Asia-Pacific property digest.

This is in spite of a softening market outlook due to political and economic uncertainty, said Thailand managing director Suphin Mechuchep.

The digest reported robust Asia-Pacific growth was fuelling new businesses and corporate expansion in key markets, which had seen big rent increases, rising wages, and a growing middle class in emerging markets – underpinning the retail market.

Thailand’s strong market fundamentals mean rents continue to rise in the office and retail sectors, although at a slower pace, the digest said.

The Bangkok property market will likely regain momentum in 2008 if political dust settles following a general election planned for this December.

In the region, robust economic growth is driving demand for office space. The bulk of recent leases have been for finance, insurance, real estate and business-support service companies.

Demand from banking and fund-management companies is strong in the financial centres of Hong Kong, Singapore, Sydney and Tokyo, resulting in some markets posting the best rents in 20 years.

“Rents are likely to stay buoyant with new supply low in the short term,” Jones Lang LaSalle head of Asia-Pacific research Jane Murray said.

This is prompting some companies to relocate non-core operations to more affordable locations. This is the case in Hong Kong and Singapore, where the company noted an increasing level of leasing activity in fringe areas and industrial properties, Murray said.

In addition to the trend of relocating non-core operations to contain costs, strong exports from Japan, South Korea, China and many of the Southeast Asian countries have contributed to a revival in the industrial segment, particularly for hi-tech space and logistics centres.

On the investment front, the global appetite for real-estate assets remains exceptionally strong. Factors driving this demand include significant growth in retirement savings, increased allocations to real estate by institutions, improving real-estate transparency and large balance-of-payment surpluses of energy- and commodity-exporting nations.

Global investment in direct commercial real estate reached US$682 billion (Bt236 trillion) last year, up 38 per cent on 2005 and nearly double 2003 volume, according to a March Jones Lang LaSalle report called “Global Real Estate Capital: Moving Further and Faster”.

In Asia Pacific, investment totalled $94 billion in 2006, an annual increase of 42 per cent. The investment hot spot of Japan dominated with transaction volumes surging 128 per cent and accounting for 55 per cent of regional investment.

Transactions in China rose a hefty 69 per cent to $9 billion, despite government measures to cool the real-estate market.

Healthy economic and property-market fundamentals will ensure investor demand remains strong in 2007. Pricing pressures are likely to intensify with many funds increasing their weightings in Asia.

Strong competition in tier-one markets is resulting in some investors moving further afield to tier-two and tier-three locations in search of superior risk-adjusted returns.

Investor demand will remain unabated in 2007 on the back of attractive economic and property-market fundamentals and increased institutional weightings to real estate, Murray said.

Source: The Nation