Characteristics of rental properties [Apartment/Condominium]

Condominiums have a short history in Vietnam, and construction began rapidly around the time foreigners became able to purchase them in 2015. For example, the construction of the Tao Dien condominium district in District 2 of Ho Chi Minh City began around 2015, the symbolic Vinhomes Central Park was completed around 2018, and the construction of San Wa Pearl in Bintan District was completed around 2020. Around 2010, Bintan District was only comparable to Saigon Pearl, and continues to develop at a truly remarkable pace.

Rental properties in Vietnam, which is rapidly developing, have unique characteristics, which we have summarized in this article.

① Rental comes with home appliances and furniture

In Vietnam, most of the apartments that foreigners prefer come with furniture and appliances.

This culture was born out of Vietnam, where there are many local expatriates, and the need for less luggage when moving across borders.

In most cases, furniture such as tables, sofas, beds, cupboards, TV cabinets, and curtains, and electrical appliances such as air conditioners, washing machines, televisions, refrigerators, and electric (gas) stoves are already installed.

Before signing a rental contract, it is often possible to negotiate on a few additional points.

② Add housekeeping to the rental agreement

We will adjust the rent to include electricity, water, housekeeping, Japanese TV channels, etc.

Many people switch from serviced apartments to condominiums because the services provided are almost the same as in serviced apartments.

At our company, we often introduce and coordinate various service providers before moving in.

Housekeeping can also be added for around 100-200 USD, so we recommend keeping this in mind when searching for a property.

Please rest assured that we will not charge you any money for this kind of adjustment work.

③ Brokerage fee is free, rental contract is 1 year contract

Many real estate agents, including our company, do not receive brokerage fees from the tenant when signing a contract for a residential condominium or serviced apartment.

Rental contracts are generally for one year or more, and for shorter periods, there are many cases in which the tenant also receives compensation.

④ North-facing properties with bad sunlight are popular

In Vietnam, unlike Japan, the sun is strong, so north-facing properties that provide shade are popular.

The air conditioner bill will make up the majority of your electricity bill, but it is something that will affect your air conditioner bill, so be careful.

⑤ Fitness The gym and pool are large.

Larger condominiums may have on-site 50-meter pools, luxury touches, and pool jacuzzis.

Some properties also have fitness gyms with equipment comparable to fitness clubs.

I also signed a long-term contract with a California fitness club, but when I moved into a condominium with good facilities, I often found myself wishing I wasn't in California at all.

⑥ Security is strong

The more luxurious the condominium, the more stringent the security.

Before entering your room, you can rest assured that the security guard at the entrance of the premises, the entrance, the private elevator, and the room key are four-fold.

⑦ Ants and geckos in the room

In tropical Vietnam, it is not uncommon for ants and geckos to appear in your room.

Even if you clean the walls, you may still find lines of ants forming in the corners of the walls.

Geckos feed on cockroaches, so it's hard to classify them as pests, but although they are rare in Japan, they are often seen in Vietnam.

On the other hand, I rarely see cockroaches, so I can't say anything.

⑧ Many defects

In fact, your furniture and appliances may not be in good condition after you start living in your new home.

Even if there are no problems at the time of handover, after a while, various problems will arise.

If you think the toilet has been fixed, or the plumbing in the kitchen needs repair, etc., the first thing you should do is tell your real estate agent.