Please also read our Expatriates FAQ for more information.
Property Search
Engage a realtor
Engage a professional property agent in Vietnam, who will assist you and protect your interest throughout the purchase, secure the offer for you at the best possible price. With a much better knowledge of Vietnam, the agent will be in a better position to recommend and advice on the choice of property. He will also ensure that all documents are in order and you are dealing with the rightful owner of the property.
Using only 1 agent
Most property companies share the same database of property listings in Vietnam. Therefore use only ONE agent at a time. If you approach many agents at the same time, very likely that they will show you the same property. Much confusion and embarrassment will arise if you engage many agents. Using 1 agent, you will save valuable time for yourself and the agent. He will then understand your needs and requirements better after a few viewings. Only if they are incompetence, unresponsive or not showing the correct property you wanted, then start to look for another agent.
Location and PriceDeciding on the right location is very important and it will determine the convenience for you family and yourself. Price - budgeting yourself will also evaluate which are the areas and apartments or houses that are suitable for you. Refer to our Saigon District Guidefor more details.
DocumentationYou have decided on take up a property and you need to prepare the following:
- Photocopied passport
- Photocopied work permit
- One month's rental for the goodfaith deposit
Pre-Tenancy Agreement
The Pre-Tenancy Agreement, is an agreement proposing your intention to lease and your requirements to the landlord. You should take note of the following:
1. Diplomatic or Repatriate Clause
This clause is to safe guard you if in the event you are no longer employed, transferred to other countries, you can terminate the lease after 12 months by giving 2 months notice. Thereafter, the security deposit will be refunded to you. Please note that most landlords will only include the diplomatic clause if the lease is more than a year.
2. Goodfaith Deposit (booking deposit)
This is the booking deposit, usually the amount is one month's rent. After the landlord signed the Pre-Tenancy Agreement and accept this deposit, he cannot rent the property to other party. This deposit will become part of the security deposit or advance rental after the Lease Agreement is signed.
3. Security Deposit
The amount of the security deposit is usually stated in the Pre-Tenancy Agreement. It will only be payable upon signing of the Lease Agreement. When the lease term ends, the deposit will be refunded without interest. However, the landlord reserves the right to deduct from the deposit all costs and expenses arising from the tenant for breaching any of the covenants stated in the Lease Agreement.
4. Term of Lease
In Vietnam, the standard lease period is more than 1 year, with or without an option to renew the lease. The lease renewal is usually for another 1 to 2 years. For the lease renewal option, the landlord would normally require that you give 2 or 3 months' advance notice of your intention to renew. Most landlords will not accept leases that are less than 1 year. 5. Your Requirements Ensure that all your requirements and requests are stated in the Pre-Tenancy Agreement clearly. Like requesting a new sofa, new bed or new washing machine etc. After the landlord had signed the Pre-Tenancy Agreement, he is bound by the agreement to provide your requests.
