Yangon is no longer a difficult place to find a place to rent for the expats. Since the country has opened its door, most of the business are becoming flexible including flat renting business. You can easily find a real-estate-agent or you can easily get-online and find a suitable place to rent in Yangon. There are websites where you can search a room or a house and the room prices are also available online. Some of the most convenient real estate websites are Myanmar Home Search and Shwe Property. You can either choose the price-range and the location of the rooms, moreover you can negotiate the price as well. Here are some tips you need to know before renting a flat in Yangon.
Renting price differ based on the location
It is quite obvious that the price of the rooms that are a bit far from downtown will be cheaper. It is best to rent a room close to your workplace or office because Yangon traffic is quite bad. Since the taxi-fees are quite pricy, it is better to stay close to workplace, or learn to take a bus. The city buses are upgraded and a bit more convenient than before and you can check the bus routes online.
Renting fees:
Apartments close to downtown – About 3L Ks to 6L Ks
Condominium close to downtown – About 10L Ks to 30L Ks
Apartments far from downtown – About 1L Ks 4L Ks
Condominium far from downtown – About 7L Ks to 20L Ks
Real Estate Agents and Commissions
There is no systematic real estate market in Myanmar yet and usually agents charge a one month rental-fee as commission. But different agents offer different schemes and you need to clarify it with the agent carefully before renting a room. It is better to go through big real estate agencies which is safer for the expats.
Rental period
Usually, you will be asked to make a one year rental contract but some owners allow 6 months rentals.
Rental payments
Some owners prefer the advance payments for the entire period of the contract. But, it is quite risky because you might face some problems with the apartments. However, you can do nothing once the rental fee is paid. Some owners take some deposit money and you can pay the rental fees monthly. After you move-out, you can get back the full deposit money if there is no damage done in the apartment. The landlords prefer to accept cash only and some of them accept USD.
Utilities
Utilities are usually not included in the rental-fee and you will have to pay at the local utility board office. If you are renting the condominiums, you only need to pay at the building management office. All the payments can only be make in cash.
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