Rent increase or retain reliable tenant in Bangkok duplex?

[eva.rose]

I’d prefer to keep the present tenant, but the obstacle is a sizeable difference between the reliable rent I receive and the advertised market level. The Bangkok duplex is valued around THB 11,160,000. The tenant pays roughly THB 48,500, while comparable listings suggest about THB 58,020.

I can see the attraction of closing the THB 9,520 gap, but asking rent may not be achieved rent, and one vacancy could absorb much of the gain. The tenant pays consistently and looks after the property. There is also a backlog of many small maintenance jobs that needs handling without making the review feel like a trade-off over every repair.

My preference is a smaller increase tied to a clear renewal period, provided the lease timing and required notice allow it. Would you discuss the maintenance plan separately, show a few genuinely comparable rentals, and propose a figure that shares the gap rather than trying to reach the advertised level immediately?

 

[makeTheRoom]

I wouldn’t treat THB 58,020 as the automatic target because asking rent is not necessarily achieved rent. First estimate the cost of even one vacant month, preparing the duplex and finding another tenant. Then offer a smaller increase in exchange for a clear renewal period. A reliable tenant can rationally be worth less than the highest advertised rent.

 

[jade_keys]

When does the present term end, and what does the lease say about increases and notice? Those facts should come before the amount. I’d also check whether the apparent comparables match the duplex on furnishing, condition and exact area. Otherwise THB 58,020 may not be a useful comparison.

 

[jade_keys]

The maintenance history matters too. If several unresolved items affect daily use, announcing an increase before agreeing when they will be handled may land badly. Separate genuine repairs from optional improvements, price the likely turnover work, and put both sides of the calculation on paper.

 

[kai.heath]

I agree that the full market gap looks aggressive, but I wouldn’t freeze the rent indefinitely just because payment is reliable. That can create a much harder conversation later. A measured increase now, explained as part of a regular review rather than a response to the maintenance list, may be easier for both sides.

 

[lookTheRiver]

Before contacting the tenant, I’d make a short table: current rent, credible comparable asking rents, likely vacancy time, reletting expenses and work that would be required between occupancies. You may find that retaining THB 48,500—or something modestly above it—produces the better near-term result even if THB 58,020 is achievable eventually.

 

[lookTheRiver]

Also keep the deposit out of the rent negotiation. If the tenancy eventually ends, condition reports, receipts and the lease terms should drive any deductions or return. Mixing a future deposit discussion into an increase proposal can make a straightforward renewal feel threatening.

 

[lookTheRiver]

On the Thailand rules, don’t rely on a generic notice period from an overseas landlord guide. The lease wording, tenancy arrangement and applicable local requirements all matter. Confirm the permitted timing and form of notice locally before sending anything, then give the tenant a calm written proposal with enough time to respond.

 

[ames.archer]

One caveat to Julia’s maintenance point: I wouldn’t present ordinary repairs as something the tenant receives in return for accepting higher rent. Necessary work should be addressed on its own merits. You can discuss the repair schedule and renewal in the same conversation, but keep the obligations conceptually separate.

 

[eva.rose]

This has clarified the issue. I was giving too much weight to the THB 58,020 asking figure and not enough to whether comparable units actually let at that level. I’ll verify the lease and local notice position, narrow the comparisons, cost a vacancy, and organise the maintenance list before proposing anything. The increase will be modest rather than an attempt to close the full gap at once.

 

[compass.keen]

That sounds balanced. When you write, lead with appreciation for reliable payment and care of the duplex, state the proposed rent and effective date plainly, and avoid overexplaining the property’s THB 11,160,000 value—it doesn’t determine the tenant’s budget. Include a separate maintenance timetable and invite a response. If the tenant counters, compare the difference with your realistic turnover cost rather than reacting only to the headline market rent.