house, keys, key-1407562.jpg

How much difference does rent to foreigners make?

Are you looking to rent a place in Pattaya? Are you an ex-pat living in Thailand and happen to find a good rental deal on one of the Pattaya real estate websites, but there is a catch…the apartment or house is up for rent to foreigners only? This means your rental budget might need some adjustment.

In my experience as Real Estate Agent in Pattaya, I have met many foreign people who are not aware of this matter. Renting a condo with the restriction that it can be rented out only to foreigners can mean a significant difference in price! On average, I would say that foreigners will pay at least 10% more than Thais for renting the similar type of properties. Of course, there are condos that do charge equal prices for both foreigners and Thais, but they are in the minority. It is worth mentioning that sometimes there might be a slight misunderstanding as to what “restricted to foreigners only” means. In most cases, it means the landlord will not accept any Thai guarantor for a foreign tenant, but in order to rent out a condo or house the owner must have a valid work permit for the tenant and the rental contract has to be registered at the Land Office. Make sure you check all this info with your Real Estate Agent before signing any contracts!

In general, if you are looking to rent an apartment or house in Pattaya I would recommend you give the Real Estate Agency Real Home Real Estate Pattaya branch a call. We specialize in renting properties and we could help you find suitable accommodation according to your requirements (i.e. we could find a condo for rent in Pattaya Thailand with a pool, a big living room and so on.

An example:

A 2 bedroom luxury condo in Jomtien is available for rent at 42,000 Baht per month. Following my Real Estate Agent Pattaya tips, I recommend that you offer around 25% of the asking price (11,250 Baht). But what if this condo only accepts foreign renters? In such a case, you simply cannot make such an offer because it will be rejected automatically by the Real Estate Agency! Offering 10,000 Baht is possible though. This means that this condo would cost a foreigner almost 30% more than a Thai person to live in it (if you can find a similar property without this restriction)! And these figures do not even include Real Estate Agent commission fees!

In conclusion, if you are a foreigner looking to rent a place in Pattaya it is obvious that you should avoid Real Estate Agents who offer only properties for foreigners. In addition, visit Real Estate Agency Pattaya websites as late as possible and keep your eyes open for Real Estate agency discounts. Your Real estate agent in Thailand may take off some of his Realestate agent service fee from the final rental price which might be around 3% (or even more). If I were you I would also ask my Realestate agent about other offers: If he/she has any unadvertised discounted condo or house available please let me know!! You can save up to 20-30% just by keeping an eye on Realestate deals!