Trendy Condominium on Soi 13

| June 12, 2011 | 18 Comments | 10,330 views

I checked out a 1 bedroom (aprox. 70 sq. meter) rental condo on Soi 13 at The Trendy.

These condos are privately owned and when you rent you are renting from the unit’s owner.

If you use a property agent rather than communicating directly with the owner be very careful because the situation is rife with the temptation and opportunity for the agent to cheat you. Don’t take anything for granted and make sure to talk directly with the owner to confirm all details, e.g. security deposit details, payment methods, etc. Don’t let the agent handle or hold any of the money such as deposits, monthly rentals, etc.

Standard terms include no more than one month rent as a security deposit, all association fees to be paid by the owner and utilities paid by the renter.

Beware of any deviations from these standard terms.

Typically, the agent will get 1 month’s rent out of 12 for bringing a tenant who signs a one year lease.

This commission is paid for by the owner not by the renter and the agent may get more if they can negotiate a really juicy price.

Standard Thai practice is for the published listing price (including those listed on internet sites such as Acute realty and Thaiapartments.com) to be about 10- 20% higher than the actual asking price.

The practice is basically a free shot for the owner and agent to take advantage of a renter who isn’t familiar with the market.

The agent for the 1 bedroom at The Trendy initially asked 30,000 and dropped to 28,000 without resistance when a discount was requested. This was for a short term rental (2-6 months).

The current market for Bangkok apartments is extremely soft and farang suitable condos rents are down about 30% from a year ago with many already bought units sitting empty and the absentee owners desperate for any type of income. All the newly built condos are sitting mostly unsold with very few potential buyers as a result of the unfavorable exchange rate and the world wide recession. Corporations have cut back their oversees staffs, tourists are staying home because of lower, less certain income, and unfavorable exchange rates. The likelihood of violence after the upcoming elections is not helping the market.

My guess is that 1 bedroom condos at The Trendy can be had for 20,000 a month.

The proper way to negotiate such a large reduction in price is to tell the agent to communicate your lowball offer directly to the owner and let the owner make a yes or no decision.

The agent may be reticent or refuse outright to pass on lowball offers. An accepted lowball offer will likely severely impact her commission but you must insist if you want to take maximum advantage of the currently depressed market.

If one owner isn’t willing, contact other owners renting identical units. All the major condominium projects near The Reservation currently have multiple vacant units generating zero income for their owners.

When I was being shown units by one property agent, there were several doors with rental signs and the owners phone number printed on them. Extrapolating over all the floors there are likely several dozen vacant units at The Trendy.

Don’t be shy about writing these numbers down and calling them.

If you want to try bluffing, call the agent back the next day and tell her another owner was willing to accept a lower rent and request she call her owner again with your offer.

There is no way for her to know other desperate owners aren’t caving to market pressure and the current state of the market makes your claim plausible.

Condo owners have had empty condos sitting unrented for months and will accept almost any quasi-reasonable offer. If you are renting short term and they can get another shot at a long term tenant in a few months where hopefully the market has improved. Your lowball offer will look like manna from heaven.

Given how bad the rental market is right now, “Anything is better than nothing” is the prevailing mentality.

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I personally find The Trendy unappealing.

It’s located right in the middle of The Reservation. The good news is that its right in the middle of the The Reservation. The bad news is that its right in the middle of The Reservation.

Going up and down the elevator and walking in and out of the lobby, I ran into 2 farang with obvious recently long timed bar girls in tow.

There are a lot of dodgy farang in town and, in my home, I would prefer not to  be around them.

It’s the same mentality that drives owning a car and motorcycle. Not having to constantly deal with scamming taxi drivers removes one source of negativity in your life and makes you that much a happier person.

The Trendy is also a little too close to the nightlife.

On the ground floor is is a beer bar called Spangky’s where girls are employed.

Do you really want Soi Cowboy taking place on the ground floor of your home?

Here are some pics of a furnished 1-bedroom.

Although only two years old, the hallways and elevator lobbies had an air of benign neglect about them with kick marks on the moldings and varnish peeling off some of the doors.

A close examination of The Trendy also reveals that it was built to a certain price point.

Minimum quality materials and poor workmanship are evident in the common areas.

The rooms I was shown featured cheap wallpaper, low priced fixtures, and slap together built in furniture.

A close look at the building reveals a basic no frills concrete structure with a thin veneer of shiny floor tiles, brushed aluminum, and laminated wood paneling to give it a shiny appearance.

Reminds me of certain girls who look good under the stage lighting but shock the hell out of you in the light of day.

For some others, this apartment and this location is ideal.

You are right in the heart of the nightlife district with everything within a couple of hundred meters of your front door.

To each his own.

BigBabyKenny

Comments (18)

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  1. Raider says:

    The Trendy is a crap building in a crap location.   It is empty of both retail shops and residents.  Also, it is definitely on Soi 13, as it says at the beginning of your article, not on Soi 11 as indicated in the title.

    Generally speaking, the residential vacancy rates along lower Suk Road aren’t very high, but as you move further west and north the buildings are increasingly empty.

    You said that 1-m0nth security deposit is standard, but I would disagree.  While it may be possible to get a one month deposit in some circumstances, generally 2 months is the requirement.

    One advantage of renting a condo directly from an individual owner is that you’ll usually pay the actual cost of water & electric, rather than the higher unit charges of apartment buildings managed by a single management company.

    I agree that there are good discounts to be had at the moment on rent.

    Looking around recently, I was able to easily negotiate 20% reductions in rent at nearly every place I visited, as well as getting other concessions like reduced deposit, free wifi and cable TV, and staged payment of deposit (1/2 now 1/2 later).  Every manager I talked to was willing to take a one-month rent payment now at the lowest rent I could negotiate, to hold the apartment and allow me to move in three months later, meaning that they would forego three months’ rent just to secure a tenant.

  2. BBK says:

    @ Raider.

    Title corrected.

  3. MGM says:

    Owning a 2 bedroom condo at The Trendy, I disagree.

    My condo is beautiful and I couldn’t be more satisfied with mine.

    The Trendy is an ideal location minutes away from the BTS making it convenient and accessible.

    The managment and upkeep are top shelf and the building has been beautifully maintained since its opening.

    Units are in high demand and owners are easily able to find subletters at above market prices due to location and conditon of the building.

    Tenants are 100% farang with no loud parties and no extended families of Thai hillbillies occupying any units. Indians or Arabs are discouraged renting units so the hallways are not filled my malodorius smells.

    Rents have NOT gone down at The Trendy. Maybe at some less desireable condos but at the top of the market, rents are holding and, in fact, may even be trending up.

    I can sell my unit for more today than I paid. Guaranteed.

    The Trendy is the best value in condominiums on Lower Sukhumvit.

  4. 911 Was an Inside Job says:

    yup trendy is a bucket of shit.
    sukhumvit suites is a bucket of shit too, but at least the fucking owners realise it and charge realistic rents/sales prices

  5. MGM says:

    What is there not to like about The Trendy?
    Its a beautiful building in a prime location with all the amenities, nice tenants, and great management.

  6. cruiserPimp says:

    So a trendy condo costs 20,000, plus a trendy A-list coyote dancer  with exclusive access to sweet spot (minimum Hollywood-quality) for 30,000 plus 20,000 bht a month to take her to trendy happy hours means living like a king for peanuts.  Sign me up!

  7. 911 Was an Inside Job says:

    @MGM
    it’s in the centre of town true.
    everybody dislikes soi 13 as it’s (currently) a bucket of shit.
    3rdly, the building was an old storage joint and the developers did it up cutting every corner.
    4thly the management are overcharging snide cunts.
    give it another 10 years and you’ll make money

  8. Trendless Trendy says:

    Buddy of mine rented a unit at Trendy and the owner went to 15k on a 1 year lease. He has 5 units and 3 were empty. Crap location to be sure. Watch your self walking down the street cause the taxi drivers sure wont.

  9. William Faggotkhorn says:

    Any ladyboys nearby?

  10. Young Penfold says:

    Q Faggotkhorn.

    From The Trendy walk down Soi 13 to Sukhumvit and take a right.

    Keep walking until you pass Soi 5.

    Before you get to Soi 3, there is a small sub soi full of arabs.

    Right on the corner of Sukhumvit and the sub soi is an outdoor restaurant where some of the finer ladyboys like to look for customers.

    I never  pay more than 300 baht for a BJ or 600 baht for cornholing their ass.

    When I let them cornhole my ass or I suck them off its free.
     

  11. Sockpuppet #5 says:

    Wow. Kenny IS a Rockstar.
    And William Mahanakorn is a no-life loser Kenny papparazi.
    Can you imagine  having such a shitty ass life that you sit around at night calling your friend when one of the sockpuppets posts a BigBabyKenny.com comment?
    —————————————————–
    http://jimmysmithers.wordpress.com/
    Once in a blue moon, if Mahanakorn is in town (which he rarely is anymore) he’ll come over, usually right at the most inconvenient time when I’m trying to concentrate on Wheel of Fortune. Sometimes he shows up almost in the middle of the night and has his driver, a tall black man from Kenya named Walid, wait for him. He won’t sit on my couches or chairs unless I drape a freshly laundered bedspread over them. He’s used to things a certain way and he’s awfully particular about cleanliness. Certain restaurants, certain kinds of furniture, even ways of dress. However, ever since he started writing about the Hollow Men operations on his blog, Saphan Loy, he’s been kinda jumpy and edgy lately. He runs on very little sleep. He tends to make and receive strange phone calls at all hours, sometimes waking me up to apprise me of my blog numbers or something going on over at Big Baby Kenny.

  12. wow says:

    This website sucks! The comments suck. Shitty content. Shitty layout. A big steaming turd.

    What type of dumb fuck runs a blog like this?

  13. Super Trendy says:

    Fuckers were so tight they didn’t even put doorbells on each apartment.. lol
     

  14. John says:

    “Do you really want Soi Cowboy taking place on the ground floor of your home?”…
    Ummmm, uhhhh, Yeah! hahaha 😛 

  15. Austin Powers says:

    Yeah Baby!

    Fuck the ground floor. I want Soi Cowboy in my room 🙂 🙂 

  16. Rodri says:

    No but there are people that are brnnigig guests in with them. It is more of a hotel for guys that have been out to Asia many times and don’t need a fancy hotel but a place that provides hot water and AIR CON. You see guys bring there kids there and they seem to stay. Jim has alot of return traffic, .I like it as it is right on the Sky train. I can get to anywhere in Bangkok really fast I went at 5:30 PM and was on Koh Sahn Rd by 6:15. Are you planning on going to Bangkok?VA:F [1.9.3_1094]please wait…VA:F [1.9.3_1094](from 0 votes)

  17. William Gaynor says:

    Has anybody here been thru a check fraud trial in Thailand.
    Worried.

  18. Marky says:

    Are you the William Gaynor from Property Management Partners?
    Good luck at the check fraud hearing.
    Probably get blacklisted. What country do you plan on relocating?

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