You and your family are relocating to Bangkok, Thailand and have finally found a place to rent. What do you do next and how can you secure that property before someone else does?
The first thing you should know is that properties change hands fast in Bangkok. I believe the same applies for all major cities where there is a considerable expat population. So, when you have finally found that one property you like, try to stop yourself from wanting to see more “just in case there is something else out there” because from my experience, people always come back to the first one they like. Those who are decisive move in weeks after, excited while those who hesitate too long end up settling for second best and sometimes, may even cost them more in rent.
Call your agent immediately and tell them about your decision. You then need to decide what extras you need in the property and the price you are happy to pay. Then the agent can go off and negotiate on your behalf. Once the rental price and extra items are settled, you need to arrange for an initial deposit, or what we call a “booking fee” to secure the property. Putting down a booking fee guarantees you the property, so you can go off and start organising the move. Without it, there is always that chance that someone else might come along and take it from you. Basically, whoever puts down the money first, gets the property! To prevent that from happening, the initial deposit required here is usually equivalent to one month’s rent with the remaining to be paid at the signing of the contract. This can be done once the contract is approved on both ends.