Renting a Condo in Bangkok – Key Knowledge

Renting a Condo in Bangkok

If you’re looking to rent a condo in Bangkok, then you’ve come to the right place. Renting a Bangkok condo is a relatively straightforward and easy process, providing that you follow a few essential guidelines. In this post, I’m going to walk you through all the steps you should follow if you plan on renting a condominium in this energetic and vibrant city.

One of the most extraordinary things about living and renting a condo in Bangkok is that there is a massive range of properties to choose from; however, most foreign nationals opt for Bangkok condo rentals. The reason for this is simple as is it offers a very convenient lifestyle, as most condos for rent in central Bangkok are located close to a BTS or MRT station. Another great thing about condo rentals in Bangkok is that they offer a wide range of amenities like swimming pools, gyms, gardens, lounges, and so on. This kind of comfort and convenience makes living in a condo very attractive as it offers a very pleasant standard of living.

Should you decide that you would like to live in Bangkok long term and are ready to commit to investing in your own property, buying a condo in Bangkok is a relatively straightforward process for foreign nationals. While unit prices have escalated over the last decade, condos in Bangkok are still somewhat affordable compared to other Asian megacities. If you can find and buy a condo in the right neighbourhood, there is also the possibility of renting it out and generating a passive income.

How Much Does it Cost to Rent a Condo in Bangkok?

One of the first questions I get asked by prospective renters is; how much does it cost to rent a condo in Bangkok? Of course, this question is incredibly vague, as Bangkok is an enormous city, with residential options to suit all budgets. However, to offer a general expectation of what renting a condominium in Bangkok costs, I’ve broken things down into a few budget options below.

Under 10,000 THB per month

It’s possible to find condos in Bangkok in the sub 10K THB category, and these are likely to be studio type accommodation. Condos in this bracket will often be very basic in style and offer very compact layouts. These properties also tend to be located further away from BTS and MRT stations and offer little to no building facilities.

10,000 – 20,000 THB per month

In general, this is a more comfortable monthly budget for Bangkok, and you’ll find thousands of great condos in areas such as On Nut or Phra Khanong are available at that price range. Condos between 10-20,000 THB are usually between 30-40 square meters with modern layouts. The projects often have comfortable amenities such as pools, gyms, and rooftop gardens. Depending on the neighbourhood and quality of the condo, it’s possible to have options located within walking distance to BTS or MRT stations.

20,000 – 30,000 THB per month

This budget opens the door to an elevated level of lifestyle and comfort. Renters that can spend 20-30,000 THB monthly will have access to condos located in a prime location that offer more extensive and more luxurious interiors. Condominium projects in this price range are usually quite plush and provide a wide array of facilities such as infinity pools, fitness centres, co-working spaces, sky lounges, etc.

30,000 – 50,000 THB per month

In this segment, condos are characteristically the same grade as the 20-30K units, but offer more space and typically offer more bedrooms or larger living areas. If you find a one-bedroom in this price range, chances are it will be very lavish with a good location and excellent building facilities.

Over 50,000 THB per month

This is where we enter the property market’s upper echelons, and you start to find a first-class condo that exhume class and sophistication. If you can afford it, then you’ll be treated to the best amenities and facilities in the city, while inside the condo will likely be kitted out with the best premium-grade furniture with enough space leftover to host extravagant parties or simply relax in, generally with a fantastic view of the Bangkok skyline.

Tenant Responsibilities When Renting a Condo in Bangkok

Rent a Bangkok Condo
AIS Internet: January 2021

With the variable things aside like unit size, location, and the property’s grade, the general rule for renters is that you need to pay your first month’s rent in advance, followed by two months security deposit. This means when you first move in, you need to pay a total of three months rent. It’s important to note that your security deposit is refundable at the end of your lease, so you don’t need to worry.

As a tenant, you need to pay for your utilities, meaning you would be paying for electricity, water, internet, and maybe cable TV if you decide to have it installed. Electricity and water remain under the name of the landlord and does not need to be switched when you rent a condominium in Bangkok. However, Wi-Fi and cable TV subscriptions are connected to an individual and need to be cancelled before moving out. One good piece of news for renters in Bangkok is that they are not subject to any council/municipal tax and are not liable for any content insurance or management fees. It’s also worth noting that the condo’s annual Common Area Management Fee (CAM Fees) are the landlord’s responsibility.

How long is the lease?

The next question I am frequently asked is; what is the standard lease length? This will vary between different landlords, but the rule of thumb is that most leases will last for one year. With that said, renting conditions have been forced to adapt to the situation of COVID-19 in Thailand, and some landlords are now open to accepting shorter-term contracts to rent a condo in Bangkok. It’s also possible to get a lease for longer than twelve months, but generally speaking most property agents, and most landlords prefer to rent a property for one year.

Regarding how much time you should spend searching when renting a condo, I recommend giving yourself a minimum period of two to four weeks before moving. This gives you plenty of time to search and find the right property but don’t worry if this is not possible as many condominiums for rent in central Bangkok are ready to move into at the drop of a hat.

It’s not unheard of for some renters in Bangkok to move in on the same day as they began looking, meaning they started their search in the morning, signed the lease in the afternoon, and moved into the condo before sunset.

Property Agents in Bangkok

Another thing I need to discuss is how to work with property agents in Bangkok. It’s important to note that there is no real estate license in Thailand so anyone can start an agency and show you condos. So, whoever you decide to work with, make sure that they are a legitimate company. A good way to do this is to see if they have good reviews online, and that way, you should be able to decipher who you can trust. If you make any payment for a booking or security deposit, it’s imperative to make sure you get a receipt, and as good practice, you should transfer the funds from a bank account so that there’s a paper trail.

One more piece of advice here; property agents in Bangkok should not be charging you for viewings because they get paid a commission by the landlord. If an agent attempts to charge you for inspecting a condo or negotiating the contract, that should be a huge red flag, and you should not pursue the negotiations any further with that particular agent.

Final Steps to Rent a Bangkok Condo

Lastly, once you sign the lease and move in, make sure you get a copy of the lease agreement which is signed by the landlord and make sure that you get an inventory document which is a complete list of all the furniture and appliances in the condo, as that will help you with your security deposit refund once your lease ends.

Hopefully, you will find the perfect apartment for rent in Bangkok and have a smooth transition into your new home with this knowledge. If you are looking at renting a condo in Bangkok, please contact us as we would love to help you out.

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