Raise rent or retain a reliable Bangkok townhouse tenant?

H

harbor.nimble

Homeowner
I own a Bangkok townhouse valued at THB 21,600,000. Comparable asking rent appears to be around THB 78,600, while the current tenant pays about THB 64,070 reliably and takes good care of the property.

I’m leaning toward a modest increase rather than chasing the full asking level and risking vacancy, refurbishment and reletting costs. There is also a fairly long maintenance list—not frivolous items, just many small jobs. How would others structure the review fairly, including notice requirements and the possibility that the tenant leaves?
 
I would not jump straight to THB 78,600. Asking rents are not necessarily achieved rents, and a dependable tenant has real value. First confirm the lease expiry date, its rent-review wording and whatever notice is required locally. Then propose a staged increase supported by genuinely comparable townhouses, while explaining which maintenance items will be completed. That makes it a negotiation rather than an ultimatum.
 
I’d be more cautious about treating the gap as automatic upside. Is the THB 78,600 comparison for properties in the same condition, location and furnishing level? The maintenance history matters here: a tenant may reasonably resist an increase if several jobs remain outstanding.

Also estimate vacancy time, agent or advertising costs, cleaning and refurbishment before choosing a figure. If the tenant leaves, document the condition carefully and handle the deposit separately under the lease and applicable Thai requirements rather than assuming it will cover turnover work.
 
Jack’s comparison question is important. The gross gap is THB 14,530 per month, so even one vacant month at THB 78,600 would take more than five months of the full increase to recover, before any other turnover costs. A smaller increase takes longer still.

I’d price the maintenance list, separate tenant-caused damage from ordinary upkeep, verify achievable rather than advertised rents, and send a written proposal within the lease and local notice rules. If retention is the priority, leave room for the tenant to counter.
 
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