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When you go looking for accommodation, you tend to wonder what the difference between an apartment and a condo is. Well the basic difference is that condos are individually owned units while apartments consist of a block of rental units which may be owned by a company, a family or an individual.
If you are wondering if it is better to rent a condo or an apartment, you will like to know that there are pros and cons to renting an apartment over a condo. I have written this article to shed some light on this question that exists in practically every expat looking for accommodation in Bangkok.
When it comes to rental prices, there is not much difference between the rent of an apartment and a condo. The rent of accommodation in Bangkok, or any place for that matter, depends on the location, age of the building, the number of rooms in the building, the size of the unit, the facilities offered in it and its décor and furnishing.
It is not at all dependant on whether you are renting a condo or an apartment. The more rooms there are, the larger and newer the structure is and the better facilities, décor and furnishing in the structure naturally gives you a higher rent.
When it comes to utility bills, it proves to be disadvantageous to rent an apartment than a condo. This is because apartments charge a minimum of about a thousand baht per month for water and a surcharge of about 5-6 baht a unit for electricity.
This is more than the 3.5 baht that is charged for electricity by MEA. This can all lead to a large sum in the form of utility bills at the end of each month. In case of a condo, you will be billed according to the applicable government rate.
In case of condos, you have to pay building management fees as apartments have this accounted for as operating costs in their rates. Building management fees in Bangkok for apartments is between 30 to 60 baht per square meter, and is usually included in the rent. However if you by chance strike a really great deal, at a considerably low rent, it could mean that the landlord does not pay the building management fee.
Basically, whether you rent a condo or an apartment, it depends on who you rent it from. It is rather easy to negotiate the rent with condo owners as they are more flexible when compared to apartment owners. Apartment owners tend to charge a standard rate for rent, which is usually non-negotiable.
You just have to ensure that you choose the right condo for rent. It may be difficult for you to do it on your own. It is better to enlist the help of property agencies to find the right condo of yourself.
Maintenance proves to be easier in apartments as they hire an in house maintenance guy to call whenever you have any problems. Then again, there are many condo owners in Bangkok who maintain their condos well, and have their own men who respond to their grievances within a day. It is based on the initial condo agreement that the cost of the maintenance is borne by the condo owner or by the tenant.
When compared to an individual house, you have better security in apartments and condos as they offer 24 hour security. Moreover, there is no chance of any flooding taking place in apartments and condos. This is an important point to keep in mind when you look for property to rent or buy in Thailand.
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