Rent Increase Question

[lodesafun]

What is the normal rental increase for a townhouse in lower sukhumvit area?

currently renting @ 55,000.

They are asking for 72,000 a mth for 3 years(12.5% increase), they want me to sign a 3x3 with a 15% increase on the 2nd set of 3. which would be 81,000 a month.

I think it's a bit high but don't know the current rental situation in Bkk for townhouses.

So I'm asking here in the hope of some enlightened experianced soul can give me an Ideal.

Thanks in advance.

Lodes

I posted this in housing section, But am curious to know of what rental increases other ex-pats have had to deal with lately and how long your contract is for.

[losworld]

In this economy I'd tell them to take a hike. Probably an owner with decreased revenues looking to make it up through you. Here's a link to townhouses in Bangkok:http://www.mrroomfinder.com/quicksearch_result.php

Good luck and let us know how you make out. Can't wait to hear about the expression on the owner's face when you tell him you just signed a long term arrangement somewhere else for 15,000 or more less per month.

Like I said no sympathy for anyone trying to pull a fast one in today's trying economy.

cheers and good luck

[Gary A]

First off, from 55,000 to 72,000 is a lot more than 12.5 percent. To pay even 55,000 must mean it is in a prime location. It's likely overpriced at 55,000. I'd come back at them with 45,000 and if they won't accept that, I'd be looking elsewhere.

[jfchandler]

I haven't had a rent increase from my private owner in the lower Sukhumvit area in two years...

The scale of the increase sounds out of bounds from anything reasonable going on in the marketplace.

The OP didn't list the size or other particulars of the townhouse. But in general, the amount being paid now sounds a bit high as well...even before the demanded price increase.

[lodesafun]

sorry I was wrong the increase is 12.5% (the base price is 55,000) to 61875.00.

unfurnished

don't think I could find a better location so, Top Location.

[richard_smith237]

My rent at B50,000 has not changed since I moved into my Apt. 4.5 years ago. If my apt wanted to increase the rent on me, I'd be looking for a new place to live.

I think the owners of your apt are being rather cheeky by requesting an increase at all, and again I think they are being very cheeky requesting that you sign a 3 year agreement.

[lodesafun]

Thanks RS,

I'm thinking the same.

[mca]

In any given situation if you feel you're being suckered then vote with your feet. It'll give you peace of mind in the long term that you did the right thing. My friend in Khon Kaen moved apartments last month because they put his rent up, cut UBC and installed local cable TV (with it's French news and Chinese cookery channels for top flight entertainment) and dropped the amount of laundry per month from 60 pieces to 50. So basically he's paying more for less. The other 3 westerners in his block did exactly the same thing. As he relayed it to me the owner of the apartment building was really confused as to why they all wanted to leave.

[neverdie]

Good, on time paying tenants are getting harder and harder to come by.

Your landlord already knows this.

[ukrules]

As he relayed it to me the owner of the apartment building was really confused as to why they all wanted to leave.

That's hilarious and I would expect nothing more.

[givenall]

sorry I was wrong the increase is 12.5% (the base price is 55,000) to 61875.00.

unfurnished

don't think I could find a better location so, Top Location.

It always surprises me when people do not put some effort to see what is out there.

Rent increase of this much is outrages and believe me there are many better places than Sukumvit. I stay in AMANTA Condo in Ratchada near Chinese embassy. It is much more convenient and better than Sukumvit and rent is a lot more reasonable.

Tell the greedy landlord to shove it and move out

[grantbkk]

Lower Sukhumvit is actually not a preferred place to live unless you're a sexpat. I should know because I used to live on Soi 5. Not an area for families. Lots of supermarkets in the area though. Some people describe the area as the sewer of Bangkok for farang.

Any rent increase request at this point should be met with a smile. Go find something else and give notice. There are virtually 10's of thousands of vacant apartments, serviced apartments and condos for rent available in Bangkok. It's a buyers market and will be for some time to come. If you do sign this new lease you will be the subject of the owner's and manager's dinner conversation for months to come. They will have gained much face by conning you out of more money in this ruined economy.

Like you I thought I had the perfect place to live until I sent an agent out to find something else. My rental budget since 2003 is Bt50K and it is not negotiable. I've always lived in the perfect home and expect to continue to do so in the future. You should view the rent increase as an attempted extortion and take steps so as not becoming a victim.

[dbrenn]

What is the normal rental increase for a townhouse in lower sukhumvit area?

currently renting @ 55,000.

They are asking for 72,000 a mth for 3 years(12.5% increase), they want me to sign a 3x3 with a 15% increase on the 2nd set of 3. which would be 81,000 a month.

I think it's a bit high but don't know the current rental situation in Bkk for townhouses.

So I'm asking here in the hope of some enlightened experianced soul can give me an Ideal.

Thanks in advance.

Lodes

I posted this in housing section, But am curious to know of what rental increases other ex-pats have had to deal with lately and how long your contract is for.

Shop around - a friend of mine just got a great deal in a brand new place for 35,000, down from 60,000

Price hikes like those you describe are not justified in the present economic climate. Consider moving to a new place, where the owner is living in the real world.

[cmdream]

Please, please do not cave in to this extortionist !! This guy will own you for 3 years. We know moving can be a pain, but the pain you will suffer at the hands of this money monger will be a lot worse. If you do not have the time to shop around there are agents who would love to shop for your 50,000 BT budget. They will set up times to view at your convenience. I think you will be pleasantly surprised at what you can get. Chok dee.

[chiang mai]

I rent a two bed two bath home on the hill in Patong, (Phuket) and I have successfully negotiated my rent downwards by 20% over the past year (half the price that you pay by the way), no reason why you should do differently.

[Livinginexile]

I have just negotiated a new 12 month contract with my current tenant for my condo in lower Suhkumvit.

There is an 8% increase in his rent.

A week later he told me he was very happy because the guy down the hall in exactly the same type of appartment is paying 20% more than him!

dam_n...I could have got a lot more!

[imaneggspurt]

Increase ?. ive had a 5000 decrease !

[geriatrickid]

The budgets I saw and have heard about did not include any increases this year. I reckon if organizations that adjust pay grades to take into account cost of living changes don't think there is reason for an increase, that's good enough for me.

[isanb]

if we take into account the renting market currently in Bkk.

A rent increase can not be justified.

It's the time for tenants to put pressure on the owners.

[Farma]

Not saying this is the case for the OP but I’ve seen similar rental increase proposals on commercial properties where the owner has either a buyer or rental proposition that they think is more beneficial to him.

They offer these new increased rates and conditions in the hope the current occupier will leave.

On the property we rent we haven't have a rent increase for 3 years.

Edited July 19, 2009 by Farma

[ThaiBasil]

hmmmmm ........ the longer i stayed somewhere the more power I had to lower the price ..... but that wasn't exactly in your price range. 12,5% does seem a lot though, what are they using it for? maintenance? extra services or just pure profit?