Why Rent a Condo or Apartment in Bangkok?
As the city that has consistently held its rank as the world’s top tourist hub, Bangkok has also witnessed the growth of the real estate market in the city as well as the country of Thailand. In recent years, the city has become a place that is very popular among real estate investors, especially foreign expatriates. That being said, the prices of the properties aren’t decreasing anytime soon and buying a property require much planning and cautious inspection to find the perfect type of property that would suit your requirements. Renting out your dream condo in Bangkok can seem to be a great alternative if you’re looking forward to life in this tropical paradise. The real estate market can turn out to be quite expensive for most people and without a doubt, is overwhelming for almost everyone.
Buying a certain piece of property that you are going to be calling your own for the foreseeable future involves a commitment that is huge by any standards. For starters, there is the money, the part which you cannot get around no matter what. Next, buying a property comes with its personal risks and responsibilities. Therefore, renting out a condo is a viable alternative for many. This article will guide you through the process of renting a condo in the city and by the end of it, you will have a sound understanding of the property rental market in Bangkok and will be ready to rent your own place.
Before you proceed to rent a flashy apartment with a furnished interior, it is imperative that you know the terms for renting a condo in Bangkok. Most of the standard rental agreements carried out in Bangkok has a length of 12 months. If you go through agents, they usually charge worth a month’s rent as brokerage. For those who are looking to rent for less than six months, will have to contact the owners directly. And for those who are looking for a lease of more than three years will have to register their lease at the Land Department. The maximum lease length term in 30 years.
Deposits: Like renting out a commercial property, tenants will have to dish out two months’ rent as a deposit. But a recent law in 2018, mandated the deposit amount to be worth a month’s rent. This is however rarely enforced. Also, landlords often demand an advance rent of one month. Essentially, a three month deposit.
Utilities: Electricity is the costliest utility in Bangkok. In ideal scenarios, the landlord pass on the bill to the tenants. In reality, most charge an inflated rate on the actual bill itself. For air conditioned rooms, each room can cost around 1500 Baht while those without any AC typically will cost around 500 Baht per month. Water costs in Bangkok are around 150 Baht per month. Phone lines can be set up for around 5000 Baht in your apartment while internet charges are around 600 Baht per month. Check with your landlord if such connections will attract additional costs before signing the lease.
Maintenance and Repairs: When creating a lease, it is vital to mention who will pay for the minor repairs and maintenance. It is critical of understanding the terms as these costs can significantly add up to around 10 per cent of your monthly rent.
There are some great advantages to renting a condo in Bangkok. One of which is surely the fast and happening lifestyle that the city promises. Seriously, you can’t be bored here even for a second as there is always something new for you to explore and learn. Check out a few points below:
Nightlife and Tourism:
If you are looking to rent out a condo in a tourist hotspot, prices in these regions are quite high. Look for neighbourhoods with residences and easy commute, especially to the MRT or the BTS. If you are a night owl, Bangkok is your ultimate destination. Many places in Bangkok are open around the clock. There are tons of happening places, but you sure would not one to lease a condo right next to it.
Weather and traffic:
Those coming in from colder northern and western countries are sure to enjoy the warm beaches and the tropical shades. Bangkok is humid and with huge traffic on the road will often strand commuters with a wet experience. Make sure to avoid travelling by car or bus during the days. Your best choice of the commute during the day include the BTS, MRT motorcycle taxis and boats. Make sure to rent out a condo near to your work so you can have a short walking commute every day. Daily commute time should be a priority when considering apartments for rent. Try to rent out a condo near the MRT or the BTS for easy access, cutting down commute times significantly.
Bangkok is often referred to as a global lifestyle destination because there are a plethora of activities for you to do, see and experience. You can expect to find the epitome of adventure around the city, with trendy bars, a cultural heritage that runs deep and clubs that are hip to their bone. Experience it like never before and make yourself more at home by renting a condo in Bangkok.
Working in Bangkok
Bangkok is one of the most wanted places in the world to work for an expat. Even with complex political situation, the economy of this region keeps on going, Companies prefer to establish their business in Bangkok the Capital city of Thailand. Working in Bangkok or any other city as an expat is quite easy as they are many other expats in the area.
The ability to speak basic Thai to the level to order food and get yourself around will only take few days of learning.
The first step for Expats that have secure a job place is to find an apartment to live in. In Bangkok you will find a difference between Condo and Apartment. If an expat didn’t secure a working place the hunt for a job will start very quickly, at first a place to live must be found and the search for a cheap condo for rent on a short term is starting.
Depending on the type of Job and where, it may take some time before you will find the right job for you.
Foreigners are driving the economy by a vast number of multinational companies based in Bangkok. These companies specialize in different industries and some company receive BOI endorsement from the government for some specific business industries. For highly skilled Expats, there are many job opportunities.
Foreigners are required to obtain a Thai work permit before they start working in the kingdom of Thailand.
Note: If you are looking for a condo to Rent keep in mind that situation can change very quickly, and you may need to move out from your rental condo.
Don’t commit yourself to for too long. Searching for a short-term condo rent maybe better at start. You can always extend your condo rental or even finding a better deal to rent a condo in Bangkok.
If you are coming with your family you most likely be interested to secure a long term agreement when renting a Condo or apartment.