The Benefits & Downsides of Corporate Rentals in Pattaya
Thailand, in its entirety, is beginning to develop. The places affected (positively) by this development are Bangkok and the Eastern Economic Corridor. This makes Pattaya, Thailand the unofficial residence of thousands of corporate workers. Who wouldn’t want to move into Pattaya, which is one of the most beautiful and scenic places in Thailand? With the growing development comes corporate tenants who would rather move to a seaside residence. Since companies provide their foreign employees housing allowances, which range from 10,000 to 100,000 THB. Because of this allowance, employees don’t negotiate the rental prices anymore because of the mentality “it’s not their money”.
There are many Pro & Cons of Corporate Rentals in Thailand. Corporate tenants who move to Pattaya don’t even put their names in the rental agreements. They would usually put the name of the company. One advantage is when landlords could charge more for administrative costs such as issuing invoices and receipts. But aside from that, let’s take a look at a few of the other benefits and disadvantages.
The Pros of Receiving Corporate Tenants
One definite pro of corporate rentals is when these tenants would stay in Pattaya for an extended amount of time, instead of the standard 12-months. Most would even choose to sign a lease for at least a few years. They are more than likely to sign 2, 3, or even 5-year rentals. Corporate tenants would even take care of their accommodation, given that these are professionals who want to ensure they don’t leave a slew of complaints, which will then be reported to their employers.
As mentioned above, charging a little bit more for administrative costs is considered a pro. But it can also be considered as a con because you will need to give time and effort to procure these receipts and invoices. A landlord will produce these, but will often withhold tax certificates. Another factor to consider is when the company will declare the monthly rentals as an expense at the Bangkok Revenue Department. Therefore, the landlord must report the income generated from it.
The Downsides of Corporate Tenants
There are also cons with receiving corporate tenants. Some of them will be looking for a high standard accommodation, which should suit their needs and wants. They will be asking for an upper price bracket rental with stylish decor in pristine condition. Most of these tenants will be looking for places that already have all the amenities and commodities they will need, expecting to move in with just their suitcases and personal belongings. These commodities include a bed, pillows, cutlery, bedsheets, etc. The most important are appliances, such as refrigerator, dishwasher, microwave, washer-dryer, oven, etc.
If a tenant is new to the country and will be staying for a long time, they will be needing additional services such as the internet, and cable TV. They will also rely on the landlord to learn how to pay utilities and where to find transport. If you want to protect yourself, you can hire a professional property agent to help you when any problem arises. They can deal with household emergencies and such.