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landlord question : now that inflation makes everything 10-20 percent more expensive, can you raise the rent now or do I legally have to wait till end of contract / renewal ?


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Posted

Depends who your tenants are. If I was presented with a 2k baht rise pr month, I would most likely accept if the place felt unique to me, and I thrived there. But if I could get cheaper same standard, then I might move. 
 

All depends on neighbors, location, standard, facilities and worth the hassle moving to a new place. 
 

But as it looks right now thinking of the expat marked in general or the real estate marked at time being, maybe not the right time. 

Posted

As soon as the tenant gets wind of this 2k increase he will start looking around as his costs are increasing also. If you can get another tenant quicky then no problem

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Posted

This is exactly why inflation is high. Everybody puts their prices up 10% and then discover they are no better off so put it up another 10%. Rinse and repeat. Next stop - hyper inflation....

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Posted
10 hours ago, RJRS1301 said:

The tenant has a contract/lease, which is legally binding on both parties, surely you are aware of that?

I would suggest that the acceptable increase would only be inline with the rate of inflation, not the mythical 10-20% more, that is if you are an ethical human

 

https://www.focus-economics.com/countries/thailand/news/inflation/inflation-hits-over-13-year-high-in-february#:~:text=FocusEconomics Consensus Forecast panelists see,predict average inflation of 1.3%.

Thailand Inflation February 2022

He needs to raise the rent to pay lifestyle  expenses... I wonder what shes asking?  Lkl

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Posted

Thanks for the input and pov 

 

Renter came to live in my house to be near his parents in same village with his wife.

 

Rent was low to start with, 3 bed, 3 baths in good calm safe moo baan in nice location

 and paid much more for his previous condo 

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Posted
56 minutes ago, Justanotherone said:

Thanks for the input and pov 

 

Renter came to live in my house to be near his parents in same village with his wife.

 

Rent was low to start with, 3 bed, 3 baths in good calm safe moo baan in nice location

 and paid much more for his previous condo 

So what? You set the rent.

Posted
1 hour ago, spidermike007 said:

The inflation we are seeing is 10% Covid related, 20% is related to supply chain and shipping issues, and 70% is historically greedy corporate gouging during a pandemic. Many corporations complain, then announce record profits. Don't be a part of that extreme ugliness. 

I think the scarcity and inflation is almost entirely fabricated.

 

Shipping...this was entirely manufactured crisis. Months and years before Baltic Dry index was at literally record lows. Shipping companies bankrupt. Now, shortage?

 

The reserve banks inflated all the currencies AND government borrowing meant something had to give but the manner it's all occured, the phony / proxy war with Russia. It's so transparent.

 

We are living in one of those dystopian movies where the Haves have it all and the rest are living like rats in a cage.

 

Even oil. Demand is constant. Why kill off fossil fuels given current events? Insane.

 

Russia and China are aligning and bringing all their old friends to the party eg the old non-aligned nations.

 

Just another scam to reduce the number and power of us *the eaters*. After the elite have broken the eater's back's they will turn on their minions.

 

/ Off topic, sorry

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