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Pattaya landlords cutting rent due to coronavirus

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Pattaya landlords cutting rent due to coronavirus

1376-N3-Apr-07-01-Landlords-lower-rent-1

PATTAYA:--Pattaya landlords are taking pity on apartment lessors thrown out of work by the coronavirus pandemic, cutting rents in hopes occupants pay at least something.

 

At the Wanpen Apartments in South Pattaya, Tao Kadpan, a local grocery seller and part-time motorcycle-taxi driver, said many of the residents have left and gone back to Issan or Korat.

 

Most of the occupants worked in bars, which are closed due to the Covid-19 outbreak.

 

But Wanpen management, hoping to hold on to tenants, cut rent by 20 percent for three months, reducing a single-room apartment to 5,000 baht.

 

An informal survey of low-income residential streets in central Pattaya found the same, with rents being cut to keep tenants who likely would move out or simply not pay due to the economic downturn.

 

Read more: https://www.pattayamail.com/coronavirus/pattaya-landlords-cutting-rent-due-to-coronavirus-294753

-- PATTAYA MAIL 2020-04-09—

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That is very nice, kind and thoughtful of them.

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Nice gesture. My landlord cut the condo rate by 2k THB monthly by himself starting this month until I return. Whenever I am able to return he said it would be back to the normal rate (Chiang Mai).

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3 minutes ago, JHolmesJr said:

Quite sad....I cant see how a Thai could even scrape together 500b these days

unless working in essential services...I do feel sorry for them even though some are lashing out

in desperation.

What about people in the UK that have to borrow £300,000 for a small flat, then pay council tax £150 a month...most were already scapping by with credit cards etc....same same..they have lost their jobs or overtime etc..as for government help, thats a long way off...Thais have had the chance to save, same as anyone else in a developed/developing country

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On Facebook, doesn't look like they can afford any rent, one place reduced 500 baht, another said pay electric 2k only which goes to you know who.

 

I think Pattaya beach opposite Mike shopping mall will be filling up soon

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29 minutes ago, darrendsd said:

You try saving when your wage is 9000 Baht a month

they will still save more than the UK example given above

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Some Thai landlords seem more understanding.

I rent a residential condo from a Chinese business man who bought it off plan several years ago. 

It stood empty for 4 years until I eventually  rented it long term.

I use it occasionally but mainly it keeps a motorcycle and car safe and houses my girlfriends visiting family.

The pool and gym are now closed for the foreseeable future, so he’s little chance of letting to someone else anytime soon.

The reduction offered on my 10,000 baht a month rent is 500 baht for 2 months (1000 baht total).

Im nearly out of contract so am ok with walking away and renting a smaller unit in the same building, currently up for 6500 baht a month. 

Im offering 7500 monthly, one year contract paid in advance but he won’t consider it. 

 

 

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1 hour ago, cyril sneer said:

some money is better than no money

True, but that's assuming the tenants actually have "some money" to pay.  🙂

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Posted (edited)
29 minutes ago, twocatsmac said:

It stood empty for 4 years until I eventually  rented it long term.

 

29 minutes ago, twocatsmac said:

Im offering 7500 monthly, one year contract paid in advance but he won’t consider it. 

As the place stood empty for 4 years, I see no problem on this place, but if you take another place, I suggest now would not be a good time to pay 1 year up front. 

 

There's a few reasons for that, but mainly because you don't know what the owner is going to do with that small lump sum. 

 

If there is a loan against the property, and the 1 year rent is not forwarded to the bank and diverted away, you will be evicted short of the lease, and good luck getting the money back. 

 

Edited by Leaver
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9 hours ago, baansgr said:

What about people in the UK that have to borrow £300,000 for a small flat, then pay council tax £150 a month...most were already scapping by with credit cards etc....same same..they have lost their jobs or overtime etc..as for government help, thats a long way off...Thais have had the chance to save, same as anyone else in a developed/developing country

Surely they can do something in UK.

 

All banks in Australia have come to help, all with slightly different terms.

 

Here's an example:

 

 ANZ

You may be able to put your repayments on hold for six months

Interest will be capitalised

The bank will check in with you after three months

 

and check the other banks here:

 

https://www.abc.net.au/news/2020-03-26/are-banks-freezing-mortgages-banks-putting-payments-on-hold/12090642

 

 

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