(For foreigners looking to rent or buy property in Thailand)
Obviously, the first thing you need to do whether renting or buying is to educate yourself about the market. Start off by telling everyone you know that you are looking for a new place especially friends who live in buildings you like, as they may know if someone is moving out shortly. There are many useful websites with good forums such as Thaivisa.com with much helpful advice. Many property websites lead to agents and their lists of properties won’t include addresses or even building names. Nevertheless they often have good tips and will give you a rough idea of prices, even if most aim at the high end.
Spend several weeks before you start looking in earnest, to look at the type of places that are being offered in your preferred suburbs and the rents being asked, so you get a feel for the market.
Don’t immediately rule out the use of agents. They tend to have a bad reputation but if you can find a good one they can be of great help, driving you around the city to look at places, offering suggestions and acting as translators. Many rely on word-of-mouth recommendations to keep their businesses going so your interests sometimes mesh with theirs.
Many people waste time asking about places they have already seen, because they don't keep notes. Keep track of the ones you've looked at so you'll recognise them as you continue to look.
Make a checklist of the things that really matter to you – built-ins, high ceilings, parking, an internal laundry. Finding a home is a very emotional process and this can prevent you getting bowled over by one feature of a place (ooh look! a swimming pool/sala/window seat/two-car garage) and not realising until you are about to sign the lease that the kitchen sink is only two feet off the ground or there are no cupboards.
To get an idea what you should be paying in any area you’ll probably need to enlist a Thai friend's help (for translating) and then drive around looking out for houses with 'For Rent' signs outside. Addresses are very confusing in Bangkok; you'll need someone to take you to see the place as directions will be useless.
Do your homework properly, take your time and gain advice from several quarters. Generally people are honest but you have little recourse to the law as a foreigner renting in Thailand. You'll also have little luck claiming back lost deposits and fees from your agent if things go wrong.
Most rented property in Bangkok and around Thailand, is fully furnished. Poor buildings will usually have second-grade furniture and facilities, while valued property will be luxuriously furnished and have a lot of facilities. Most middle to high-end condominiums will have a nice swimming pool, a sauna, laundry facilities, maid services and so on. You may just have to get some towels, bed sheets, and coffee mugs, and move in. Television, washing machine, microwave, air-con and so on will all be there. You can find all this, sometimes while paying a rent of Bt30,000 a month or less (especially in the suburbs of Bangkok), for at least a three-room unit. Much cheaper accommodations are available.
When renting a property for business purposes there will likely be a 'key-money' charge involved which amounts to six months rent or more, depending on the property's location. This is an old Asian tradition which amounts to 'daylight robbery' but is considered the administration fee. Often there may be a middle man involved who is sub-leasing the property and pocketing the key money.
Thais generally have very different tastes when it comes to houses, preferring houses built for status rather than practicality. Since their lives are quite communally oriented, they prefer densely packed new housing estates, rather than secluded and remotely located places. Where Europeans may prefer tropical living with plenty of fresh air, warmth and natural light, Thais prefer to bolt themselves up in air-conditioned rooms with small windows. Of course there are exceptions to the rule and it means that you're more likely to find a great, cheap, place that no one else wants.
Noise levels are something many foreigners are likely to have difference tolerance levels for compared to Thais. If you like a place, come back at different times of the day and NIGHT to assess the noise, especially from karaoke machines, motorbikes tearing up the soi, PA systems attached to schools or temples, barking dogs and so on.
Not many buildings, especially those over 10 years old, are well maintained and this applies whether your are buying or renting. What you don’t get the landlord to agree to fix before you move in, you'll probably have to fix yourself.
Water features are popular and many places have pretty little ponds, canals and lakes but these all bring mosquitoes - lots of them. They do, however, help cool things down in the hot season. A big shady garden keeps the glaring sun out but retains the humidity in the rainy season and makes the house interior very dark on cloudy days.
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