12 month condo rent pre paid...any problem?

[Olmate]

Good price drop for paying year in advance but are their any problems with this? Has anyone done so and is money secure ? Not sure of correct forum,thanks.

[Vacuum]

Ask them if they're willing to do the TM30, if not try another condo.

[neeray]

One year prepaid removes all the available leverage if anything goes wrong.

[mercman24]

not a good move at all, if any problems arose during that time,(ie neighbours for one) you are stuck, landlord would not want to know, its bad enough paying, monthly, to try and get jobs done, Thais dont believe in maintenance, they will let a vacant condo got to rack and ruin and still want top money for it.

[Olmate]

6 minutes ago, neeray said:

One year prepaid removes all the available leverage if anything goes wrong.

• Agree thats my concern. Does the lease doc protect me if that aspect is mentioned tho? in this case owner is an expat not that means anything in real terms

[Olmate]

13 minutes ago, Vacuum said:

Ask them if they're willing to do the TM30, if not try another condo.

Ha ha Tm 30 hang up I don’t have.

[neeray]

10 minutes ago, Olmate said:

• Agree thats my concern. Does the lease doc protect me if that aspect is mentioned tho? in this case owner is an expat not that means anything in real terms

Like you said, "owner is an expat". A jerk around landlord is a jerk around landlord! They come in all colours and stripes.

[smutcakes]

I used to pay 6 monthly in advance with no issues. All depends on the quality of your landlord and situation with regards the type and location of property. I did it more because i dislike going to the bank to transfer every month rather than any significant discount.

[Olmate]

33 minutes ago, smutcakes said:

I used to pay 6 monthly in advance with no issues. All depends on the quality of your landlord and situation with regards the type and location of property. I did it more because i dislike going to the bank to transfer every month rather than any significant discount.

The one off transfer is a plus for sure, it removes the monthly budget concern too.Discount in this case equals about 3 months So is tempting!

[worgeordie]

Just make sure you get a signed receipt from the OWNER*,that

also explains all the details of the payment, not agent*.

 

regards Worgeordie

[WalkingOrders]

Bad move if you paid someone posing as the owner. Something that happens everywhere in the world...otherwise why not.

[NanLaew]

1 hour ago, Olmate said:

Does the lease doc protect me if that aspect is mentioned tho? 

If the OP hasn't done so already, ask for a copy of the lease beforehand and confirm exactly what is covered and not simply mentioned. If the Landlord is unwilling to share beforehand, go elsewhere. If the landlord shares and is agreeable to some inclusions that cover this aspect, then it's a good sign.

[Olmate]

Thanks for the very good replies,I will reconsider I think. Apart from the owner needing the cash now I wonder is this price reduction indicative of hard to rent /overpriced problem evident in places like Pattaya?ie 16 k really should be 12 k?

[natway09]

Sounds like it is a bit late to ask us now anyway, but good luck

[NCC1701A]

5 hours ago, Olmate said:

Ha ha Tm 30 hang up I don’t have.

why?

[Wake Up]

I do it and I know several guys that do. I have a good Thai landlord and it is a savings of money and hassle for me and her. She knows I won’t do a runner and I get a good discount. 

[dotpoom]

7 hours ago, Olmate said:

Good price drop for paying year in advance but are their any problems with this? Has anyone done so and is money secure ? Not sure of correct forum,thanks.

Yes, have done it...no problems (and have given it)..but every landlord is a separate individual, it depends on his character...no hard and fast scenarios.

  PS...the only problem I came across was that I always regretted it afterwards...couldn't move on when a different situation usually came up that "tickled my fancy".

[meand]

i have found you lose all leverage when you do this. if you are low maintenance and just want a good deal it is a great way to go. just dont count on your issues being resolved quickly if at all. 

[RJRS1301]

Owner wants it upfront, rings alarm bells for me, liquidity problems, family cash problems,??

Would be concerned that if repairs etc required he may not be able to pay for them.

Lease or no lease he could leave you high and dry without plumbing, and other necessities

[CharlieH]

7 hours ago, Olmate said:

The one off transfer is a plus for sure, it removes the monthly budget concern too.Discount in this case equals about 3 months So is tempting!

Make sure you have something in place protecting you if the property is sold ? What happens if sold to a relative after 3 months and you are told to get out ! Make sure you are covered.

[Olmate]

3 hours ago, natway09 said:

Sounds like it is a bit late to ask us now anyway, but good luck

Thanks,no decision yet tho,as I mentioned last post,I’m leaning towards giving it a miss . Who knows exchange for baht may improve too!

[Olmate]

3 hours ago, NCC1701A said:

why?

Why do you? their just bits of paper, used POA last time, maybe folk are too busy but not me

[4675636b596f75]

The OP didn't state the reason why he did this.  What was the advantage to him doing this?

[madmen]

7 minutes ago, 4675636b596f75 said:

The OP didn't state the reason why he did this.  What was the advantage to him doing this?

He did

[CHdiver]

First, make sure he actually owns the place. I would only do it, if I already rent the place and know he is a good landlord. Otherwise I would be careful. 

[4675636b596f75]

43 minutes ago, madmen said:

He did

Not vociferously.

[Olmate]

21 minutes ago, 4675636b596f75 said:

Not vociferously.

My opening sentence was the crux, several other for n against emerged from the discussion.Did you have some thoughts either way?

[Number 6]

I would stay a year. If all is good and they offer no less than 10% go for it.

 

My apartment offers 10. 5% discount for staying the year which everyone does. 5 for upfront. Bc it's actually only 5% I don't pay forward bc it's such small money. I want 10%.

 

My landlord is just fine and does TM30

[denby45]

3 hours ago, mrblonde said:

guys, sorry to jump in this thread, we've got a condo booked for 16 nights in November through AirBnB, but since been told its illegal??    Is this right please??

Unless the landlord can show you a hotel license then yes it's illegal. I have also a condo for rent in Pattaya. I can not rent for less than a month.

 

Den

[DJ54]

10 hours ago, neeray said:

Like you said, "owner is an expat". A jerk around landlord is a jerk around landlord! They come in all colours and stripes.

I’m my opinion sure there are some but to put all in one basket doesn’t seem fair. Ask around the complex see what other tenants say,