Do’s and Don’ts
So you want to rent a condo or apartment in Bangkok. So how do you go about it? Who do you ask advice from? Who is offering you a good deal? Is the landlord trustworthy? Will you get your rental deposit back?
Lets answer the above questions one at a time with good and bad example of renting in Bangkok.
So how do you go about it?
So you have just arrived in Bangkok, or perhaps you have not even got here yet and are just looking at the Bangkok Real Estate market on the internet. Perhaps you have been to Bangkok before on holiday, or perhaps you have a friend already living in and renting in Bangkok to help you. Any of the above could apply to you, and hopefully this blog article will help explain or at least reassure you of the common practices for renting a condo or apartment in Bangkok.
First of all let’s explain the differences between a Bangkok condo and a Bangkok apartment, as the two are technically not the same. One can be bought, rented and leased out, whilst the latter can only be rented or leased out.
There are of course quite a few other technical and detailed differences, if you want to know more about which one appeals more to you and why then please go to the previous Bangkok Property Blog article which goes into far greater detail:
Ok so assuming you have read the above article and that you are familiar with the differences between Bangkok condos and Bangkok apartments then let’s look at the payment terms of renting in Bangkok.
Fortunately payment terms for renting a condo in Bangkok or for to rent an apartment in Bangkok are the same and also standardized throughout the city. And they are:
- 2 Months Deposit
- 1 Month Advance
So a total of 3 months, so a simple example is that you want to rent a condo or rent an apartment in Bangkok for THB 20,000/month then you must give the landlord THB 60, 000 up front. Then after that you only have to pay another 11 months (on a year’s contract) or another 5 months on say a 6 months rental contract.
This is basically the how the financials work in the Bangkok rental market and people who tell you otherwise should be viewed with suspicion. I can guarantee that is you were to call 10 reputable Bangkok Real Estate Agents after reading this blog, then you would get 10 Bangkok Property Agencies telling you the exact some thing.
Who do you ask advice from?
Well of course we would be delighted if you asked advice from us here are Bangkok Condo Rentals Co., Ltd. We could certainly not only offer you free professional advice, but we could also help you find a property in Bangkok at no cost to yourself. In Bangkok property agents do not charge viewing fees and there is no cost to you the client at all, our fees are paid for in the form of commission from the landlords in Bangkok whom we work with.
Our advice in general though would be to approach a reputable, established Real Estate agency in Bangkok. We do not recommend that you try and arrange a deal thorough a well meaning friend or worse still or a freelance property broker here in Bangkok, as we have heard some nightmare stories. Please check out the blog below about such ‘rogue’ traders who pray on expats new to the Bangkok property market.
Rouge Freelance Agents
There are plenty of quality national or international Real Estate brokers in Bangkok who can deal with clients from budgets of THB 10,000 or over so there should be no need to contact free-lance property agents or unprofessional brokers in Bangkok.
Not only will an established Bangkok property broker be able to offer you more security and knowledge, but given their established relationships with landlords they should be able to negotiate you a better rental contract than you could get yourself.
Who is offering you a good deal?
Well of course like any deal or negotiation every deal is unique and there are so many variable to one that it is impossible for me to judge on individual deals in this blog. A Bangkok condo or apartment may have a better than average view of Bangkok city center, it may be in a particularly good condominium building or the amenities in the Bangkok apartment block in which unit you choose may be unsurpassed. What I can tell you though is that I have met dozens if not hundreds of people in Bangkok whom tell me they have the best Bangkok rental deal in town, only to find out where they live and on 99% of the occasions it turns out to be no better than an average deal. In a free market economy like the Bangkok Property Market, you usually end up getting what you pay for.
However you will enhance your chances of getting a good deal by using the knowledge, help and expertise of a Bangkok Real Estate agent.
For general rules of thumb though here is a rough guide to rental prices on Sukhumvit road, the most popular are in Bangkok.
For Condos for Rent on Sukhumvit:
- Grade C or below – THB 200-300/sqm/mth
- Grade B – THB 350 – 500/sqm/mth
- Grade A – THB 600 – 800/sqm/mth
For apartments for rent on Sukhumvit:
- Grade C or below – THB 150 – 250/sqm/mth
- Grade B – THB 300 – 500/sqm/mth
- Grade A – THB 500 – 750/sqm/mth
As you can see Bangkok apartments are generally cheaper than condos in Bangkok, but of course this is a very rough guide and so many variables such as age of buildings, maintenance levels, location, amenities & facilities will all come into play. As will of course the styling of the building and the units within.
And what of the Grading of these apartments in Bangkok or the condos highlighted above. Well mainly they will be more obvious upon visiting the property, but if you are not sure ask your real estate agent for advice.
Is the landlord trustworthy?
Well to be quite honest when you are meeting a person for the first time or renting a property it is difficult to know. There are of course smiling assassins in this world. However if you are working with a trusted Bangkok rental broker with an established company and reputation, then they should know the landlord/ landlady, and by definition should not be recommending them if they are not.
Will you get your rental deposit back?
This is in many ways the easiest to answer.
If you have taken good advice and have chosen an established and reputable property broker, then the answer should be an undeniable ‘Yes!’ as long as you stick to the terms of the rental agreement.
If you do not choose a reputable real estate agent, and or you do not stick to the terms of the rental agreement you have signed, then it is impossible to answer, and I would often urge on the side of caution and say ‘Don’t expect the rental deposit back!’