Everything You Need To Know About Renting Condos in Bangkok
What Are the Best Reasons to Rent a Condo in Bangkok?
The best reasons to rent a condo in Bangkok include the high level of security, affordable prices, quality buildings, and amenities you can enjoy.
Not everyone wants to pursue property ownership as it can come with higher upfront costs and responsibilities. Renting a condo is one way to reduce initial expenses while enjoying the same standard of living.
Affordable Prices
Bangkok has condos all over the city at affordable rental rates. The average price in 2023 was roughly 44,800 Baht per month, and you’re likely to find even better rates in up and coming districts like Phra-Khanong. The median price there is 27,825 Baht per month.
Well-Maintained Buildings
Condominiums in Bangkok are typically very well-maintained with 24/7 support for any concerns tenants have with their rooms. Many units come pre-furnished with stylish interior design, too, and are carefully overseen by a juristic office that’s part of the building’s management team. This ensures that a high standard is maintained.
Resident Security
Thailand is a safe place in general, and renting a condo in Bangkok means extra resident security. You can expect 24/7 security guards, private key cards, secure entrances and parking, surveillance cameras, and fire escapes to give you peace of mind. Some condominiums are even gated.
Access to Top Facilities
When renting a condo in Bangkok, you’ll have access to top facilities that make the overall development a convenient and attractive place to live. Some of the options commonly seen in Bangkok are:
- Pools
- Gyms
- Theater rooms
- Sauna rooms
- Public baths or onsens
- Children’s facilities like playgrounds and sports courts
What Are Some of Bangkok’s Condo Categories?
There are 6 main categories of rental condos in Bangkok:
- Affordable condos
- Luxury condos
- Family-oriented condos
- Pet-friendly condos
- Mass transportation adjacent condos
- Apartment buildings
Affordable Condos
Affordable condos for rent are those that are near or below the average monthly rate in a given location.
PropertySights Real Estate experts are constantly examining market trends, recent developments, and the state of supply and demand for any given neighborhood. Our goal is to provide our condo renters an up-to-date picture of the current market price and present the most affordable properties in a specific neighborhood.
Luxury Condos
Luxury condos are those that are on the high-end of a neighborhood’s range of property listings. These high-end condominiums are in prime locations, have top-quality furnishings and installations, and come with different bonus amenities such as theaters, bars, and public dining rooms.
Family-Oriented Condos
Family-oriented condos are more spacious with several bedrooms to host the larger number of occupants. There are facilities for children like playgrounds, basketball courts, and bicycle paths and they tend to be close to kindergartens, international schools, and universities.
Pet-Friendly Condos
Owning house pets like cats and dogs in Thailand is uncommon historically, so the number of pet-friendly condos may be smaller than in other countries. Part of the reason for this is that many Thai people associate these animals with the outdoors as they’re more typically seen in the streets or around temples.
However, pet ownership is becoming more common with 37% of Bangkok households hosting a pet as of 2022.
Mass Transportation-Adjacent Condos
Condos that are near mass transportation options like Bangkok Sky-Train (BTS), MRT, or BRT stations are another popular category. PropertySights Real Estate’s definition of 'mass transportation-adjacent condos’ includes those that are within 350 meters of a station.
This type of condo is a popular option with those who want to avoid the congested Bangkok roads or simply don’t want to own a car.
Apartment Buildings
Apartment buildings in the City of Angels are another class of rental unit not registered under the Condominium Act of 2008. They can be rented on a month-by-month basis or longer leases similar to condos. Individual units are often larger than condominiums and offer less advanced facilities in comparison to recently launched condos.
What’s the Difference Between Renting an Apartment Versus a Condo?
The main difference between renting an apartment versus a condo is that the ownership structure of condos means more rights and more responsibilities, even for leasehold contracts. Such condos are owned or rented as individual units.
Renting a condominium means that you may be responsible for basic repairs in your individual unit for things like lightbulb changes. This could be up to 2,000 Baht per repair depending on negotiations with the landlord. In the case of apartments, responsibility falls on the landlord for repairs.
In the case of apartments, a company owns the land and building. They then offer rooms as a service which cannot be fully owned by the tenant as they don’t fall under the 2008 Condominium Act’s rules.
In addition, apartment renters may be charged a separate fee for access to facilities like gyms, theaters, and swimming pools. Condo renters generally share these spaces as part of their lease agreement.
Another consequence of the apartment rental structure is that building owners often charge inflated rates on utility prices like electricity, water and internet. On the other hand, local condo law dictates that utility prices are regulated by the Metropolitan Electric Authority (MEA), Metropolitan Water Authority (MWA), and the tenants personal internet provider.
What Does ‘Serviced Apartment’ Mean in Bangkok?
‘Serviced apartment’ in Bangkok refers to a rental unit that offers services common to hotels like cleaning and bed sheet changes, but in a larger unit. Utility prices are often included in the fees and they often come with additional facilities like gyms, parking, and common areas. Serviced apartments are ideal for short term travelers or residents looking for a flexible living option, though more expensive than privately rented condominiums.
What Are the Most Popular Areas for Renting Condos in Bangkok?
There are several Bangkok areas that offer a combination of safety, entertainment options, access to public transit, and attractive condos for rent. The most popular regions to rent a flat in Bangkok are:
Central Bangkok
Central Bangkok includes several districts within, such as Watthana, Khlong Toei, and Phra Khanong. There are any number of great condominium developments to choose from, each with an attractive charm.
The Thonglor neighborhood is one of the highlights of this region as it allows for easy access to the rest of Bangkok via BTS stations. Sukhumvit and its thriving nightlife is just a short trip away.
Lumphini
Within the Pathum Wan district is Lumphini, another of the hottest regions in Bangkok. One of the reasons it’s so attractive for condo-seekers is the 142-acre greenspace known as Lumphini Park, a peaceful slice of nature in the middle of a megacity.
The Lumphini green zone happens to be located near BTS stations Sala Daeng (S2) and Rjadamri (S1) as well as MRT stations Si Lom (BL26) and Lumphini (BL25), making it a convenient area to live in.
Sathorn
Sometimes known as Bangkok’s central financial district, Sathorn is one of Bangkok’s fastest growing areas. It combines upmarket properties, fine dining, and luxury hotels to attract residents and tourists alike.
The Sathorn neighborhood is one of the best areas to rent a condominium in Bangkok, especially for those looking to invest in some of the most fashionable residences around.
Riverside
The Riverside region of the Krung Thep Maha Nakhon includes the Charoen Nakhon and Charoen Krung districts. It’s known as one of the most historical areas of the Thai capital, boasting the city’s first paved road and a connection to the shipping industry.
These days there are many trendy condominiums in the area, incredible shopping options, and a thriving nightlife.
What Steps Are Involved in Finding the Condo Most Suited to You?
The steps in finding the condo most suited to you involve sorting personal priorities like location, size, and price, then going through inspections, rental agreements, and the handover of property with local real estate experts.
Having a third party help you navigate the entire process can make it much less stressful and lead to more satisfying results.
1. Decide What’s Important to You
Step one in your search for the perfect condo is to decide what’s important to you between factors like location, unit size, and price. You may need to sort your priorities and consider tradeoffs like size for up-to-date builds.
Once you have a general idea of what you’re looking for you can seek out real estate consulting services like PropertySights Real Estate. We’ll work with you to assess your needs and expectations. Once we have a firm grasp we’ll research potential matches and deliver a trimmed-down list of images and links for you to review so that you don’t have to waste your time looking at options that are irrelevant to you.
Consultants should be flexible and capable of working with a strict budget, pulling from the wide range of rental properties and prices that Bangkok has to offer.
What Is the Average Rental Rate of Condos in Bangkok?
The average rental rate of a condo in Bangkok is roughly 44,800 Baht per month while the median is 33,500 Baht.
Here’s how the average Bangkok condo rent compares based on size:
- 1-bedroom: 27,400 Baht per month
- 2-bedroom: 53,000 Baht per month
- 3-bedroom: 95,600 Baht per month
- 4-bedroom: 163,000 Baht per month
2. Viewing the Flats
After getting your list down to a few favorites you need to view the flats in person and evaluate them based on factors like their furniture, storage space, and condo facilities. Judgements on the development at large should be based on 3 main elements:
- The neighborhood and location within Bangkok
- The condo building and facilities
- The room and its floor
Visiting the condo with English speaking experts, like those at PropertySights Real Estate, is crucial here as they can help negotiate details that aren’t to your liking. This might include changes to furniture, curtains, and outdated appliances or it could involve presenting different rental options based on an improved understanding of your needs.
Confirming that everything is to your liking and that necessary changes can be made will ultimately lead to you making your final choice.
3. Secure Your Condo of Choice
If you’ve settled on one place and have agreed on any changes to the unit, it’s time to secure your condo of choice. At this stage, a PropertySights Real Estate expert will take the following steps with you:
- Take a copy of your passport and visa page if applicable.
- Provide a copy of the lease agreement and confirm it with you.
- Confirm the landlord’s proof of ownership via a copy of the title deed.
- Have the landlord sign the lease agreement and acknowledge the one month holding deposit to reserve the unit as most clients move in within three or four weeks.
4. Sign the Lease Agreement
Next, you need to sign the lease agreement that contains the terms of your status as lessee. Your PropertySights Real Estate specialist will organize and facilitate the agreement between landlord and tenant.
At this stage you may have many questions and concerns, and that’s what an expert can help you sort out.
What Is the Thai Law Regarding Property Rental Agreements?
The Thai law regarding property rental agreements is the Civil and Commercial Code. Specifically, section 537 of the civil code outlines rent control, stating that it must be included in a written lease agreement.
Section 538 of the Thai civil code is another important area that states lease agreements beyond 3 years must be in writing and noted on the land title deed via the local land office. Failure to register the lease agreement means that it’s only enforceable for those first 3 years.
A proper lease agreement between landlord (lessor) and tenant (lessee) should contain:
- The type of real estate (house, condominium, and townhouse, to name a few)
- The length of the rental period including start and end dates
- The value of the rent and payment period
- The names of the lessee and lessor
- The address of the property
- Other conditions like renewal and cancellation terms, rent adjustments, and actions to take when rent is not paid
A 2018 addition to the Consumer Protection Act of 1979 further governs leases. This classifies landlords with 5 or more rental properties as a ‘contract controlled business’.
The new rules made leases more consumer-friendly, limiting things like the landlord’s ability to charge inflated utility prices, allowing tenants to terminate leases with 30 days’ notice, and regulating security deposits. The government further updated lease regulations in 2019.
The Main Revisions to the 2019 Lease Control Law
The main revisions to the 2019 lease control law are as follows:
- In order for a tenant (lessee) to terminate a contract with 30 days’ notice, at least half of the lease’s term must have passed.
- Landlords (lessors) can also terminate a lease if they are in breach of clearly written rules stipulated in the contract (must provide 30 days’ notice), if they disturb the peace of other tenants (7 days’ notice), or if they break Thai law (no notice required).
- Lessors can request a combined upfront rent payment and security deposit of up to 3-months’ rent. This can be confiscated if the lessee is at fault.
- If a lessee fails to make a regular payment, the lessor can bar them from entering the property.
5. Handover of the Flat
Handing over the flat is possibly the most exciting part of the condo rental process. Prior to the actual move, PropertySights Real Estate will make sure that the room gets a deep clean, the AC is serviced, and all agreed-upon requests are met.
When a new client moves into a unit we take pictures of all household items such as beds, dining tables, sofas, and more. We summarize this in a document that’s included with your lease agreement. This serves as a record of the apartment’s original conditions that you can refer to should any disputes occur when you move out.
At this stage, you’ll pay the additional 2-months’ rent as a security deposit according to the lease agreement, do a final check of the unit’s condition, and get your set of keys. With the keys in your hands, we then register you at the juristic management office and fill out a form that includes your rental details in case of emergency or building support requests.
6. Full Property Support
Full property support like that provided by PropertySights Real Estate professionals should be in place from the date you move in to the end of the lease period. Problems (big and small) may arise during your residence such as water and electric stoppages, common area damage, and even issues within your own room.
Your consultant will work with building maintenance teams and potentially outsource specialists in some cases to achieve your satisfaction.
Reach out to PropertySights Real Estate today for full support in setting up your dream rental in the City of Angels.
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