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Thailand - Renting Property
All types of spaces for rent are available in Thailand. These include seaside shacks, condominium complexes, high-rise apartment buildings, and bungalows. There are many outstanding spaces available for rent. However, the price and quality of rental properties differ from one place to another. Expats should know that major cities in Thailand could have significant amounts of traffic. Therefore, expats are advised to look for houses for rent near their areas of interest like public transport facilities, their children’s schools, and their places of work.
Finding property for rent in Thailand
You may face a few challenges when looking for properties for rent in Thailand, whether you are searching for the property for rent on your own or through an agent. Individual house hunters can make use of local newspapers and the internet to search for real estate in Thailand. There are many real estate resources available in English. Alternatively, search for a suitable property, survey the neighborhood, and choose a suitable property for rent.
Consider working with a real estate agent because most of them understand the property market better than you will. They will help you during the entire rental process and ensure you get an apartment at a price you are comfortable with. Many agents in Thailand do not charge fees to search for property because they receive their payment from property owners.
It is not easy for foreign nationals to own property in Thailand. Therefore, most of them prefer renting instead of buying. Fortunately, property owners understand the housing needs of foreigners and they usually advertise available properties for rent. The procedure for renting a property in Thailand is not complicated because the rental market is wide and has many houses available at fair prices. There are various ways of handling the procedure, since lease agreements in Thailand are not formal all the time.
The most common method for renting property in Thailand involves depositing the rent in a bank account specified by the property owner and agreeing on the length of the rental contract. The prices of rental properties in Thailand are not negotiable. Many property owners would rather lack tenants in their houses for a long time than alter their rental prices.
It is wise to demand a basic rental agreement from your agent and it should be signed by both parties even if you have an informal deal with your potential landlord. This helps to ensure that the property owner and tenant understand their duties and rights.
The tenant should be keen to point out any areas that need repair in the house by inspecting it in the company of the landlord and taking numerous photos of the apartment. You should be handed back your deposit at the end of the lease contract if the property is maintained in good condition. Tenants in Thailand usually pay for their own rental services including telephone bills, water, and electricity. Electricity is quite expensive in Thailand and sometimes there might be energy shortages.
Make sure you visit the rental property at various times of the day (morning, noon, and night) and during weekends so that you can know what it feels like to stay in the property. Thai nationals are friendly but the streets can be very noisy at times. You should know that most people usually turn their houses into business spaces during the day (shop houses) but foreign nationals are not allowed to do the same and they are also not allowed to sublease.
Another important factor to know is that hot water is considered a luxury in Thai residences. It is mostly available in modern condominiums and hotels. Properties without hot water are relatively cheap. Be sure to look out for this feature before moving in.
Where to look
Thai nationals are very sociable and they will help you out when you are looking for rental accommodation because they have knowledge of various neighborhoods; all you have to do is ask. Expats are advised to seek recommendations from locals when looking for property for rent.
Local magazines like Bangkok Post (written in English) and Chiangmai Mail have classifieds sections, which can be quite helpful to people looking for property for rent in Thailand.
Real estate agencies in Thailand
Generally, real estate agents in Thailand commit their time to houses with rental income of at least 30,000 Baht. The agents may ask for a bank reference and a character reference from either your friends or employer before they agree to help you find property for rent. You might also be subjected to a credit check.
When searching for properties in Thailand, the internet may be of little help because not all properties for rent are listed online. Properties that are listed online are often highly priced or may not highlight all the features that you may be interested in.
Paying bills in Thailand
You may pay up to 3000 Baht a month on utility bills for a two-bedroom apartment in Thailand. If you are living in a condominium, you can easily pay bills at the front desk of your apartment but they may charge you more than what the utility company charges. You can pay the utility bills at a local post office or at your bank. The most popular way of paying for bills is by making required payments through 7-11 stores.
7-11 stores are open 24/7 and can be found on almost every street. The stores charge a service fee of 10 Baht for paying bills. Always look out for a telephone or water sign on the 7-11 store’s entrance since not all of them offer this service. Once you have paid the fee, you will receive your bills back with receipts.
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