Factors to Consider When Choosing an Apartment

If you are looking for accommodation, you may need to consider the opportunities offered by companies and those offered by individual services. However, if you have a larger budget, corporate apartments make a better option. With this type of serve, you can facilitate your payments using any convenient option, including credit cards and cheques. You can find suites or condominiums located in high-end locations, usually in buildings close to corporate hubs, public transportation, subways, shopping malls and restaurants. The factors to consider when choosing a corporate an apartment include:

· Consistent service design

It is important to find an apartment that offers a pre-set list of amenities which cater for your needs. Get rid of any ambiguity by finding out what is available in the premises. Find out whether hi-speed internet, direct dial, voice-mail and international calling are available, because most of these facilities can be a challenge for individual services to offer due to control and billing issues. Many of the corporate services offer tasteful suites and so you can expect everything to function properly.

· Housekeeping standards

Companies with hundreds of apartments to manage do not invest readily in housekeeping standards. On the other hand, individual owners are keen about housekeeping standards. As a result, they often compete more effectively on this platform. However, it is not all gloom and doom for companies, by shopping around and reading customer reviews you will find a company that offers quality housekeeping standards.

· Budget

Individual apartment owners are often cheaper than companies. However, by shopping around for corporate apartments and comparing quotes, you stand a better chance of finding an apartment that has been priced competitively. However, you must be careful about basing your decision solely on price, because you will get what you pay for. If you are interested in quality services, you should be ready to pay a little more. If possible, negotiate in advance certain amenities. Reading through the customer reviews will make you discover the quality of service to look for.

· Customer service

Daily problems, such as kitchen sink leaks and toilet overflows are common in apartments. In the event of any problem, living can become challenging. Therefore, it is only fair for them to be resolved the earliest time possible. Most of the companies deal with such problems by moving residents to different units or an upgrade. Therefore, it is important to find out how a company deals with problems when they occur. By reading customer reviews, you will be able to gauge the level of satisfaction among customers on this issue.

The Advantages of Renting an Apartment vs. Owning a Home

Compared to owning a home, living in an apartment rental is incredibly easy. Why do the work yourself when you can enjoy the following benefits:

· Dedicated property and maintenance staff to call if anything goes wrong

· No back-breaking snow shoveling, lawn maintenance or pool/sauna care

· One single monthly rent cheque usually pays for everything (instead of several separate bills and fees when you own a house or a condo)

You Get More for Your Money

Believe it or not, you can usually rent an apartment or house for much less than the cost of buying it – especially if you live in a larger city. And if you want to be right downtown, renting is almost always more affordable than owning a condo (and you get a lot more living space, as well, as downtown apartments are usually much larger than downtown condos).

As well, apartment renters don’t have to come up with the thousands of dollars in down payments, closing costs and fees for things such as building inspections, legal counsel, land transfer taxes and insurance.

And this doesn’t even factor in the cost of borrowing – in the first five years of ownership, most mortgage payments are applied only to the interest, not the capital. This is money that you won’t get back when you sell your home (and you’ll still have all the hassles and extra costs of putting your house on the market).

That Tax Break is Not Guaranteed

Getting a big tax break is supposed to be one of the greatest advantages of owning a home – but you can’t always rely on getting this break. If your annual mortgage interest payment, plus any other deductions you are entitled to, isn’t greater than your standard tax deductions, you will not receive any tax benefit from owning a house.

If you rent an apartment, however, you’ll always receive some form of tax relief, as a large portion of your rent is tax deductible every year.

Maximum Flexibility

Renting provides an enormous amount of flexibility. You can pack up and leave immediately at the end of your lease (which can be monthly or yearly, whatever best suits your lifestyle) – there’s no waiting to sell and no agonizing about the housing market before you move. For many people, the freedom to live where you want and when you want is a huge benefit that simply cannot be overlooked.

Minimum Risk

For homeowners, the stakes are enormously high should their finances crumble. When they can’t pay the mortgage, the lender has great leverage – the house and all the equity invested in it could be in jeopardy. That’s not to say there aren’t consequences if a tenant can’t pay the rent – but the financial devastation that comes with losing your home is far greater than being evicted from your apartment.

In addition, there are several social service programs that are run by all levels of government to help people in need pay their rent so they won’t be evicted. Are the banks as lenient or supportive when it comes time to pay the mortgage?

Ultimately, making the decision to either rent an apartment or buy a home involves much more than simply comparing rental rates, mortgage payments, lease lengths and tax breaks. It’s a combination of all of the personal circumstances happening in your life – both now and several years down the road.

Difference Between Renting An Apartment And A Condo in Bangkok

Many people ask, “what’s the difference between an apartment and a condo in Bangkok?” Well, condos are individually owned units whilst an apartment is a block of rental units owned by a company, family or individual.

There are, of course pros and cons to renting an apartment over renting a condo and hopefully this article will shed some light on the apartment versus condo rental issue, and help you with your final decision.

Rental prices

When it comes to price, you’ll be glad to know that there is no difference whether it’s an apartment or condo you choose to rent in Bangkok. The rental rate is usually determined by the location, age and grade of building, size of unit, number of bedrooms, facilities, décor and furnishing.

Utility bills.

Now, this is where the main disadvantage lies in renting an apartment over a condo. Apartments tend to have a minimum charge for water (usually around 1000 baht per month) and a surcharge on electricity (around 5 – 6 baht a unit compared to the 3.75 baht charged by the MEA). All this can amount a hefty difference in utility bills at the end of every month.

I live in a 3 storey townhouse with a family of 6 and my water bill has never exceeded 500 bht a month, ever. We do a lot of washing and drinking too!

Building management fees

These fees apply more to condominiums rather than apartments which have already factored this cost into the rent. This is what you call the community fee that goes to maintaining the buildings, facilities, security etc. For condos, this cost around 25-40 baht per square metre depending on the building and its location. The more exclusive your condo. The more your fees are going to be! Most of the time, this fee has already been included in the asking rent by the landlord. However, if you managed to push the rent down significantly and got you a laughing good deal i.e. a nicely furnished 95 sqm 2 bedroom in the CBD for 25,000 baht/month, then it’s likely that your landlord will be expecting you to pay this management fee instead! That’s fair enough don’t you think?

Others

At the end of the day, whether you are renting an apartment or a condo, who you rent it from is extremely important. With condo owners, it is sometimes easier to negotiate on the rent since these individuals can be more flexible, compared to an apartment which charges standard rates that are usually non-negotiable. However, finding a suitable condo for rent is a little trickier on your own since you’ll have to know which building and what unit is available for rent. You’ll also need the owner’s contact too! That is where property rental agencies like Bangkok Finder can help you.

The other thing is maintenance. It’s definitely a lot more convenient if you are living in an apartment since there is usually an in house maintenance guy hired by the building at hand. However, I know of many condo owners who take very good care of their property and have their own handyman who usually responds within a day or two. The cost can be foot by the landlord or the tenant depending on the initial agreement. Usually, structural repairs, electrical wiring and plumbing costs are borne by the landlord, and minor repairs are the charge of the tenant. However, the cheaper your rent, chances are the more you’ll have to account for in maintenance cost during your lease tenure.

Apart from that, apartments and condos offer 24 hour security and feel safer for most, compared to living in a house. There is also NO chance of flooding inside your home, which is a major concern for most people looking to rent or buy in Thailand and the other bonus is, NO MOSQUITOS! That truly is bliss.

Well, that’s about it really! Ready to start your search? Here are apartments for rent in Bangkok and condos for rent in Bangkok.