With the wide selection of apartments for rent in Bangkok, choosing your next home wouldn’t be so hard. This doesn’t mean that the first property you see is the best choice. Careful considerations still come into play, and there are questions you need to ask yourself before signing a lease.
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What are your priorities?
Knowing exactly what you want out of a property will make it easier to define the right rental apartment for you.
- Make a list of factors that matter most to you. Are you looking for an apartment based on affordability, location, and amenities? These things will make it easier to browse any real estate listings.
- Consider your length of stay. Not all properties are available for short-term lease, and some will require a year-long contract.
- Think about the features you want from an apartment, especially the non-negotiable ones.
With a list on hand, you can easily filter real estate listings and narrow down your options.
What options are available?
Three of the more popular properties in Bangkok are condominiums, apartments, and service apartments. They all have pros and cons, and you need to weigh each one just like you would when deciding between an apartment and an independent house.
- Condos are privately owned residential buildings with common areas and facilities shared among residents.
- Service apartments are residential units built on commercial land, offering hotel-like services but with a more home-like setup. It’s more affordable than a condominium but more expensive than an apartment.
- Apartments are a more basic, budget-friendly version of a service department. They may come furnished, semi-furnished or none at all. Residents also have fewer options in terms of amenities.
What are the legal requirements?
Real estate acquisition for foreigners comes with legal limitations, something you must know if you fall into this category.
- Thailand’s rental agreements follow the Civil and Commercial Code, with most landlords now switching from the Old Rental Contract Control Law (2018) to the New Rental Contract Control Law (2019).
- Tenants may rent a property either in the short-term up to three months or long-term for one year or longer.
- Although not a legal requirement, it’s best to have all rental terms and agreements written on paper for your protection and that of your landlord.
Is the rent negotiable or not?
Whether you have a set budget or a price range for the rental fees, it’s best to verify and confirm with the landlord.
- Check if you can negotiate the rent prices to reach the most beneficial figure for both parties.
- Make sure the rent is fixed and will not change at any point during your stay.
- Make sure the payment terms also specify penalties if you delay or miss payments.
How much is the security deposit?
Apart from the amount, you should also ask about the terms of the deposit’s return.
- The new contract control law states that tenants are required to pay a security deposit, along with an advanced rental payment not exceeding three months.
- Find out how you will get the full amount of your deposit and the terms and conditions you should be aware of.
What terms matter to your lease?
This is the part where you get into specific details with the landlord before committing to a contract.
- What is the minimum lease term, and how does it match with your property needs? Some properties may offer a 6-month option while others offer a minimum term of 12 months.
- What goes into your initial rental fee? How many months in advanced rent and the security deposit
- Ask about the rules on lease termination, contract breach, and eviction, any exemption or limitation of liabilities, and what’s included in your rental fee.
What essential documents do you need to prepare?
If you’re a foreigner renting a property in Bangkok, there are documents you’re legally required to provide.
- Valid passport
- Work permit or proof of income
- Visa or proof of long-term stay. Different visa types have different durations.
Landlords are also required to submit a TM30 online, which notifies the government of foreign tenancies. Make sure to check for compliance to avoid legal problems or any issues when it’s time to renew your visa.
What are the best practices to follow to avoid scams?
- Never transact with shady agents or property providers.
- Never agree to less-conventional modes of payment, such as paying with Bitcoin.
- Never sign a lease without visiting the property and seeing everything with your own eyes.
- Never fall for low-rental fees, especially when the property’s address is popular or upmarket.
When renting a property in Thailand, make sure to define your priorities, familiarise yourself with the local real estate market and the governing tenancy rules, especially if you’re a foreigner. To protect yourself against scams and other legal concerns, partner with Kasemkij, Bangkok’s trusted provider of residential and commercial properties.
