What you must know in Phnom Penh about renting

If you plan to search for an apartment or home in Phnom Penh in the near future. Phnom Penh offers all types of accommodation, including traditional townhouses and luxury apartments with rooftop pools. If renters know what they are looking for and have realistic expectations, they can extend their dollar a long way. The first step towards finding the perfect home is to understand clearly what is available to you.

#What is types of service apartments and how do they compare them?

While many Phnom Penh apartments are serviceable, there is a distinction between an apartment and a fully equipped apartment. A fully-service apartment is similar to a hotel, which provides all you need to live in comfort.

You could expect that all necessary household appliances would be fully furnished, decorated and contained. This comes with linens and a fully-equipped kitchen. In general, these types of apartments are inclusive; cable, Internet, water, cleaning facilities, parking and electricity are provided for rent. Fully-served apartments typically are meant to provide alternatives to a hotel if your stay is not long enough to sign a rent, even though they may be used for long-term living. The attached price tag will, however, correspond to the services offered.

Many of Phnom Penh apartments recently started with a monthly rental fee including some services and amenities. Mid-to-high-end apartments are now standard for furnishing, but usually do not include cookware, dishes, utensils, clothes linen or other home appliances. Many of these apartments have a monthly rental rate for Internet, cable, water and cleaning. The monthly rate of electricity is very rarely included.

#What is the long-term rental value compared with a short-term rent?

Many expats live only temporarily in Cambodia and are unwilling to sign long-term rental agreements while most landowners are reluctant to have tenants stay less than six months. It is beneficial to sign a six-month or annual rental lease because the lease price is locked up on a market only increasing. 

The prices of rent currently increase by 10–15 percent per year and you can expect prices to continue to increase because of the high influx of new buildings that offer the above mentioned facilities. Many expats here since a few years are caught off guard when the rental period ends and they cannot find an apartment of the same value at the same price. 

You can also have more negotiating power when you sign a long-term rent if changes are required upon signing a property owner, if they know that you will stay for a long time. When you sign a long term rent, you will be flexible.

It's about building relationships, most owners want a relation with their tenants, building and maintaining. You can settle in a place to create a home away from home, make your own and integrate in the community around you.

#What kind of change can be reasonably negotiated with the landlord if a long-term lease is signed?

In Cambodia, most things are negotiable, including rental accommodation. The most important thing for expats is frequently the monthly rental price and flexibility. The installation of window screens fans to remove furniture includes other things that can be negotiated with the host to help the owner to make room for a home office or another purpose. Negotiation will depend on the owner, but reasonable applications are, of course, acceptable. But be prepared to see you in the centre, if you have a long list of changes.

#What's the value instead of searching for a reputable agency?

The use of a reputable property agency is very valuable. They are experts in what they do and they are aware of your housing needs and the market. They can provide you with the most effective advice and guidance on your property search. It is an advantage to have somebody to navigate the town and market when you move to an unfamiliar city or country. In order to negotiate a fair lease agreement on your behalf and to ensure that all your expectations have been fulfilled before, during and after your movement.

Agencies provide services to the customer without charge. The property owner pays a commission to the agency and the fee is usually standardized. Although the commission is paid by the landlord, good agencies are loyal to their customers because their business relies on word-of-mouth. A reputable agency will show you properties best suited to your needs and will not show favoritism among properties.

You should search for another agency if you find that you consistently have properties shown that do not suit your needs. The majority of Phnom Penh's reputable agencies have the same privileges and the same rates for you. Its goal is to make your search clear and efficient. You should choose an agency with which you feel comfortable and which understands your needs. It should be fun to experience it.

Alternatively, it can be tackled independently by using an agency in Phnom Penh that is best for people with a very small budget. These include trying to weed the various standard housing options, crossing a language barrier and investing time on your own. Although this can be found in many hidden gems, it may not be beneficial for anyone to come to a country that is unfamiliar and not familiar with culture and norms.

*If you want to find real estate in Phnom Penh, you can find it here : Compass Real Estate Flatform

Source : movetocambodia