Condo Agents Pricing

[Larssonn]

3 hours ago, balooo said:

Is there a fee to pay to agent for him service? In italy you have to pay at least 1 month + VAT to the agency, 2 months security deposit and first month.

owner pays the agency fees , not the tennant but as always in thailand stay away from any agencies if you can , they are usally undereducated clowns trying their luck here in los where anyone can open a agency as former mcdonald clown employee .

 

hard words but hundredthousands threads regarding this worldwide cant all be lies , give it some thoughts .

[maxtroy]

On 22/06/2018 at 01:09, balooo said:

Thank you Max!
Can you tell us more? Type of condo and location for example? Have you trade directly with owner or by condo agent or other?
Becouse ~ 25% price discount sounds really good for me that i’m just looking a small condo at Soi 15 (centara, urban, The Base, city garden)
There, avarage price for 30smq studio frunished is around 16k but reading this thread a price drop to 12000 maybe attainable.


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I used East Coast real estate 3 years on the trot and stayed in a coupe of different

one bedrooms at City Garden .   When renting , for me , Soi 15 is the Soi to stay on . Avenue , Urban , City Garden etc are all very well located and location is everything .

Personally i prefer to deal with an Agency because of the possibility of not getting your deposit back when dealing with an individual owner .  I have had no problem with a couple of different Agencies I've used over the years to get my deposit back .

You need to keep in mind agents don't get paid if a unit ,they are advertising , stays empty .  They want to close the deal and generate some rent money  . If you have time you can suss out the different rental agency websites and start tracking availablity of unit(s) you are interested in and make informed offers . I knew the  unit I got the big discount on had been sitting vacant for at least 4 months and factored that into my offer . 

You need to understand that there is no denying the Real Estate agents are not a quality group of professionals but then they are just the messenger when you give them an offer to present to the owner . When dealing with Agency websites you also need to understand , generally  the advertised price is for 12 months so if it says $16 k that would be for 12 months and shorter periods would be more expensive .  Websites are notorious for not being up to date  because rentals will appear on multiple sites and not everybody is notified when a rental is no longer available . I would track a few possibilities rather than just rely on the availability of one particular unit when you are ready to go .

[balooo]

Thank you very much @maxtroy!!

I m looking to rent for six months, i'm already tracking different units just to have an idea about prices. Obiuvsly 6 months price is 20% higer than year but anyway i can make my offer!

I m thinking to write ,1 month before my arrival, to the agencies, so when I will be there in a week I would check different options and rent my condo.

What you think? 1 week to rent is enough time?

[maxtroy]

9 hours ago, balooo said:

Thank you very much @maxtroy!!

I m looking to rent for six months, i'm already tracking different units just to have an idea about prices. Obiuvsly 6 months price is 20% higer than year but anyway i can make my offer!

I m thinking to write ,1 month before my arrival, to the agencies, so when I will be there in a week I would check different options and rent my condo.

What you think? 1 week to rent is enough time?

If you have your passport and cash handy then closing the deal can be fast provided the owner is easy to reach when going back and forth on offers and acceptance of offers . 

[JAI DEE MAK]

13 hours ago, maxtroy said:

If you have your passport and cash handy then closing the deal can be fast provided the owner is easy to reach when going back and forth on offers and acceptance of offers . 

If you rented one of my apartments you can pay and move in the same day.

JDM

[Bartle]

Saw a Condo on Gecko for less than half of the Agoda and Condo web site price.

Is https://www.gecko-properties.com legitimate? 

I'm only interested in a month. I sent them a message on their site. Will see how it goes.

[Ludhamlad]

6 minutes ago, Bartle said:

Saw a Condo on Gecko for less than half of the Agoda and Condo web site price.

Is https://www.gecko-properties.com legitimate? 

I'm only interested in a month. I sent them a message on their site. Will see how it goes.

Definitely a legit business but don't know whether they do monthly bookings.

[flyingscotsman]

6 hours ago, Bartle said:

Saw a Condo on Gecko for less than half of the Agoda and Condo web site price.

Is https://www.gecko-properties.com legitimate? 

I'm only interested in a month. I sent them a message on their site. Will see how it goes.

The office is on Pattaya Klang.

I read quite a few good reports about them on here and people saying that they are great to deal with, give you good deals compared to advertised prices etc.

I contacted them a few days ago and made a decent offer for a condo for a 1 year rental and they were very strict with what they offered.

I also believe they are wrong in asking for a 2 month deposit, as I keep reading that it is now law for 1 month deposit now.

As a side note, I don't think they do a 1 month rent, all their condos are 6 months or 1 year.

[usexpat46]

2 hours ago, flyingscotsman said:

The office is on Pattaya Klang.

I read quite a few good reports about them on here and people saying that they are great to deal with, give you good deals compared to advertised prices etc.

I contacted them a few days ago and made a decent offer for a condo for a 1 year rental and they were very strict with what they offered.

I also believe they are wrong in asking for a 2 month deposit, as I keep reading that it is now law for 1 month deposit now.

As a side note, I don't think they do a 1 month rent, all their condos are 6 months or 1 year.

I don't think its wrong to ask for a large deposit and it should be left to the owner on what he asks.    This isn't like what I asked for a 1 month deposit when I rented my condo in California which was an unfirnished unit.  Many of these units are  firnished,  come with bedding,  cooking and dining items, thus the owner should require a large refundable deposit or he would be foolish.  His option if he didn't would then be to pass along the cost of any damaged or stolen items that exceed 1 month deposits to other future tenants who don't abuse the condo.

[flyingscotsman]

21 minutes ago, usexpat46 said:

I don't think its wrong to ask for a large deposit and it should be left to the owner on what he asks.    This isn't like what I asked for a 1 month deposit when I rented my condo in California which was an unfirnished unit.  Many of these units are  firnished,  come with bedding,  cooking and dining items, thus the owner should require a large refundable deposit or he would be foolish.  His option if he didn't would then be to pass along the cost of any damaged or stolen items that exceed 1 month deposits to other future tenants who don't abuse the condo.

I hear what you're saying for the deposit if a tenant damages the place.

But I believe it is now a rule the condo places have to follow that it can only be a 1 month deposit.

It has something to do with having under 5 condos.

So if Gecko are acting as an agent for a guy who owns 1 condo then he cannot ask for 2 months and Gecko should be telling him that.

[gusincebu]

So if Gecko are acting as an agent for a guy who owns 1 condo then he cannot ask for 2 months and Gecko should be telling him that.

Thats not correct ..you have it all wrong !
Its only owners who have 5 or more rental properties that are restricted to the 1 month deposit and government rate electric and water rates !
Owners who have less than 5 properties are well within their legal rights to ask 2 or 3 month deposits.





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[flyingscotsman]

1 hour ago, gusincebu said:

 

 

 

Thats not correct ..you have it all wrong !
Its only owners who have 5 or more rental properties that are restricted to the 1 month deposit and government rate electric and water rates !
Owners who have less than 5 properties are well within their legal rights to ask 2 or 3 month deposits.





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Thanks for the correction, now I know where I stand when talking with agents about a rental deal.

Much appreciated.

[cutter]

Also look at Airbnb. I've rented a few times through this with good experience. Can exchange Line I'd with landlord and book direct after making contact

[Scuba+]

Thanks for the correction, now I know where I stand when talking with agents about a rental deal. Much appreciated.

 

If you don't want to pay 2 months deposit then just don't do it, find someone who will accept 1 month. 

 

The new law is pretty daft as how are you meant to know who has 5 or more condos

 

 

 

[flyingscotsman]

6 minutes ago, Scuba+ said:

2 hours ago, flyingscotsman said:

Thanks for the correction, now I know where I stand when talking with agents about a rental deal.
Much appreciated.

If you don't want to pay 2 months deposit then just don't do it, find someone who will accept 1 month

That's my plan.

I'll only pay more than 1 month if I really want the condo and all other avenues have been exhausted

[Scuba+]

That's my plan.
I'll only pay more than 1 month if I really want the condo and all other avenues have been exhausted

Big deposits are a big disincentive for people to rent and while the condo is unrented the owner loses money outweighing any gains from the 2 month rent. In the UK in my area if you offer a property at lower deposit people are queuing up. I literally had a taker for my place the first few days, and the first viewer, lower deposit

[flyingscotsman]

11 minutes ago, Scuba+ said:

28 minutes ago, flyingscotsman said:

That's my plan.
I'll only pay more than 1 month if I really want the condo and all other avenues have been exhausted

Big deposits are a big disincentive for people to rent and while the condo is unrented the owner loses money outweighing any gains from the 2 month rent. In the UK in my area if you offer a property at lower deposit people are queuing up. I literally had a taker for my place the first few days, and the first viewer, lower deposit

Exactly.

Once I get there in Dec and view the 3 condos I've seen so far my plan is to offer 1 month deposit and a few thousand Baht lower than asking price and then see what happens.

[Geordie59]

Definitely negotiable.
In fact some agents have been put on a higher price than the seller wants in order to increase their profit margins.
For a rental more chance of a reduction on a 6 or 12 month lease but whatever building you choose there will more than one available for rent. Play one against the others.

[usexpat46]

2 hours ago, Scuba+ said:

2 hours ago, flyingscotsman said:

That's my plan.
I'll only pay more than 1 month if I really want the condo and all other avenues have been exhausted

Big deposits are a big disincentive for people to rent and while the condo is unrented the owner loses money outweighing any gains from the 2 month rent. In the UK in my area if you offer a property at lower deposit people are queuing up. I literally had a taker for my place the first few days, and the first viewer, lower deposit

I can see that if the rental prices are the same and furnished the same.  However if the lower deposit has a higher monthly rental rate and/or is cheaply furnished I'll go with the higher refundable deposit and save money in the long term with nicer furnishings.

[Scuba+]

I can see that if the rental prices are the same and furnished the same.  However if the lower deposit has a higher monthly rental rate and/or is cheaply furnished I'll go with the higher refundable deposit and save money in the long term with nicer furnishings.

I'm not sure there's any link between deposit size and quality of furnishings. Like i say if your condo stays empty because you want 2 months rather than 1 month then the strategy has failed. 1 month is ok and vet the tenants more