While a plenty of dwelling types exist on the real estate for lease market in Hanoi, apartment is still considered the most popular one not only to locals but also expatriates. It exposes competitive points compared to the rest by wide ranges of price options, availability in almost areas, diversity in size and relatively simple management; all are ideal for short term and long term tenancy. Ensure that you are aware of the following common characters of apartment for rent in the capital before settling in this beautiful city.
- Being mainly in buy to let format
Instead of bank savings, stock market and foreign currency, wealthy people who have a free sum of money have another reliable choice of investment – buy to let apartment. It means an apartment bought not for a living but to rent out. The buyer can buy from previous owner or directly from the project reseller. This category of apartment for rent has witnessed strong development in the recent years because of attractive benefits for both home owners and foreigners. As a lessor, they make profit from stable rental income and wealth accumulation when property price rises over time. On the other hand, foreign people find it appeal because they don’t need to confront complicated procedures from project investor and they are free from managerial and legal responsibilities.
Most apartments for lease are either partially furnished or fully furnished. In both situations, dwelling hosts always try to equip basic features to serve the best to renters coming from other cities or even countries without bulky things. Partially furnished ones have available bed, wardrobe, sofa, table, cooktop and bathroom fittings. In fully furnished units, other tiny things from bath towels, cooking utensils, waste basket to pillow case, hangers and so on are provided. What comes in a so-called furnished house might vary from unit to unit and the lessors will tick on their advertisements. By opting to rent a furnished one, tenants save money on purchasing new stuff and eliminate worry about hassle of moving or selling a bunch of heavy furniture. After some rentals, the owner may polish stuff, buy new alternatives or renovate the house to make it ready for next comers.
There are 2 kinds of apartment for rent in Hanoi. One is serviced apartment which refers to commercial units in 4 – 7 storey building built by individuals to rent out. A serviced apartment often offers full services like in a 4-star hotel such as laundry, housekeeping, room services. Some also have other kitchen or cooking area with appliances that you don’t find in hotel rooms. On the other hand, a condominium (a.k.a condo) is a private property rented out by the unit’s owner instead of the whole building’s owner. It differs from a serviced apartment that land status is residential, not commercial. Additionally, condo rental does not include cleaning service as well as other secondary services like what you expect in a hotel or serviced apartment. In return, you can access to more well-maintained facilities in the building like fitness, swimming pool, convenient store, etc.
Apart from family subject, most apartment owners in Hanoi allow some people live together in one space. They can be siblings, relatives, friends and colleagues who want to share rooms in an apartment so as to save costs and feel safe in a strange environment. While one person can’t make the most use of a unit at its price, even a one bedroom one, 2 persons will do and also help reduce living expenses. As long as you well inform the landlord how many people will move in at the early stage and the number of residents does not exceed its capacity, mostly they will give a nod. Unless you live in a high-rise building where your lessor can’t supervise your daily routines, normally every visitor or overnight guest must acquire the owner’s permission before entrance. Therefore, if you desire to add someone into mutual accommodation, you have to register with the lessor in advance in case extra costs can be charged or rejection is given.