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Tips for Renting Property in Ho Chi Minh City, Vietnam

By duongtrongnhan0103

Tips-for-Renting-Property-in-Ho-Chi-Minh-City,-Vietnam

Most Popular Districts in Ho Chi Minh for Expats

Expats in Ho Chi Minh typically live in District 1, District 2, District 3, Binh Thanh District, Tan Binh District, Phu Nhuan District, District 5.

Rental Options for Foreigners Renting Properties in Vietnam

Foreigners who are residents of VietNam can purchase a condo or apartment in VietNam but are not allowed to own the land.

At this time, the process of purchasing property as a foreigner is quite cumbersome but the rules may change in the coming months. Nevertheless, most expats prefer to rent homes in VietNam and they usually have a plethora of choices available for every budget.

Vietnamese investors can choose any of the three options, but foreigners can only obtain an LUR (Land Use Rights) by lease or through a JV with a Vietnamese partner where LUR is contributed as a capital contribution or lease the land directly from certain approved entities.

Every year the People's Committee, with the support of the Department of Natural Resources and Environment (DONRE) establishes the land price based on market value. When leasing land in Vietnam, the price cannot deviate more than 20 percent from this official price.

Steps Involved in Renting a Property

For investors keen on leasing land in Vietnam, there are several ways to obtain land with an LUR, although the government enumerates different methods for locals and foreigners. The first method is through allocation, where the state allocates an LUR via an administrative decision. The renter may be subject to a land use fee (LUF), depending on the case. "Recognition" involves the state recognizing an LUR, but investors are exempt from paying the LUF. "Leasing" is when the state leases the LUR using a contract and is subject to rental payments. This is in many ways similar to the customary system of renting.

Land can be leased from Vietnamese companies (such as an SOE or LLC), Vietnamese citizens living abroad, or an FIC who is leasing land from the government to develop infrastructure on the rented land. A company can only lease land if it obtained the land with the allocation method, unless the land was leased before July 1, 2004 and a sufficient amount of the lease has been paid. Furthermore, land can be leased for a maximum of 50 years, and 70 years in special cases. To renew the lease, the investor has to obtain approval for an extension. Companies also have the option to rent an office in a building or lease from a company in an industrial zone or export-processing zone.

Rental Prices in Ho Chi Minh City, Vietnam

In Ho Chi Minh City, most expats live in District 1, 2, 3, Binh Thanh, Tan Binh, and Phu nhuan and rental properties in these areas can range from $250/month to upwards of $10,000/month.

You can rent a decent fully furnished apartment for around $500 in Binh Thanh District but the same apartment would cost more than $2000 in District 1. In comparison, $2500 is usually the starting price for bungalows outside the city centre in District 2.

Expat Precautions

What is Included in a Rental

Sofa, TV, Air-Conditioning, Chair, Bed.

Documents and Identification Needed when Renting

ID card, Passport, Visa, certificate of marriage or single.

Pets and Rental Properties

All pets are allowed in rental properties as tenant permission.

Furnished vs. Unfurnished Rentals

All housing equipments can be allowed.

Typical Rental Term in Vietnam

Depend on Negotiation between Land owner and tenant, It's could range from 6 months to 10 years

Rental Payments

Depend on Negotiation between Land owner and tenant, like cash, banking, for range from a months to a year

Utilities

Security, Swiming services, Cleaning Services, Camera 24/24

Application Fees when Renting in Ho Chi Minh

From $250-$15,000

Subletting in Vietnam

It's can be allowed but depend on Land Owner Agreement

Renter's Insurance

It's alway available

Handling Disputes with Your Landlord

It is resolved through legislation

Granting Landlord Access to Show Property

Depend on A both

Additional Advice for Foreigners Renting Property in Ho Chi Minh City

Many unsafe things on renting a home or apartment, If new expat is going to rent a home or apartment, they must find a trusted company for get right advices and informations.

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