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October 2015 – It’s a Renters Market Out There…

In the past when you went into an estate agent’s office and said you were interested in renting, they would hand you a list of properties while they talked to Russian buyers. The renter was very much the poor relation.

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Well not any more as with less buyers around many agents are now relying on the rental market to make ends meet. Therefore this month I went out around town to see what was available.

OK let’s not dwell on the fact that the Russians have almost left the city, as that is all too clear to see. However there are renters around who are keen to sign long-term contracts, and the agents I talked to actually said business was quite brisk.
Firstly and perhaps the biggest sector looking are the large number of resident expats.

Here according to Carol Chang from Coastal Real Estate Pattaya, they have had several enquiries from residents researching the rental market to find out what they can now get. Some are looking at downsizing but the majority are still able to maintain the same size property but at a lower rate.

Over at Alan Bolton Property Consultants their rental manager Patrick On-lam told me that he had had several enquiries from teachers needing to find rental property before the new academic year starts.

Another client was the giant Kawasaki motor company who had recently opened a large operation in Rayong, however many of their executives preferred living in and around Pattaya.

I have for the past 18 months rented a large 2 bed condo in NaJomtien beside the sea.

It’s a great place to live but with daytime meetings and social events in the evening to attend, I can clock up a large number of kilometers every month.
I therefore decided to see how hard it was to check out a few options.

Go Online And Google Pattaya Rentals
First and easily you best port of call is to go on line and Google Pattaya Rentals. Apart from checking out our own magazine’s popular website www.pattayacondoguide.com or www.pattayahouseguide.com where you will find a large number of properties for rent, it is also worth going to a few of the local agents sites.

Here you can choose the area, size and of course price range. If you limit is say THB30,000 a month I would recommend selecting up to say THB35,000 as most owners are will to offer a discount especially if you can sign a year’s contract.

I found when actually arranging a viewing with the agents that you could normally find out how long the condo had been on the market. If it had been empty over say three months then that means they have lost revenue so may prefer to take a lower offer but with the view of having a reliable long-term tenant.

I found that there was a huge difference between rather older condos furnished with the bare minimum against some of the newer units with modern furnishing.

When I am looking for a place to rent, I prefer something bright as I tend to work from home. Also I will always check the mattress and the sofa, as badly made furniture can mean any savings you made in the rent will be spent at the Chiropractor.

It’s amazing how some properties are furnished as if the owner expects you to sit in an almost empty lounge with minimal furniture. Or you have the extreme where the colours are so bright it’s like living in a go go bar.

With Indian executives, teachers, corporate clients and expats, there is a healthy turnover of property, but I cannot see it changing over the next few months even though we are getting close to the high season or should it now be called mid season this year.

According to various reports Pattaya currently has a large number of new and secondhand condos to fill and with large projects like Centric Sea, Cetus, the Palm, Naturaza and Inxx all about to be completed, the stock will grow rapidly.
Yes the clever renter who does his homework will find some great places to live out there. Happy hunting.

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