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  Top Three Mistakes When Booking A Vacation Apartment

Written on April 23, 2016   By   in Apartment

Vacation Apartment 2Paris vacation rentals can be tricky to navigate, but the payoff is huge. Whether you are on a budget traveler who cannot afford the double-whammy cost of hotels and restaurants, or a luxury traveler who wants seclusion and over-the-top grandeur, you’ll get more space and privacy for your money by booking a rental property.

Convenience is probably the biggest advantage of a Paris vacation rental, you can come and go as you please and do what you like, when you like. An apartment rental is one of the most comfortable lodging options that can be availed for enjoying your vacation.

Besides more space and privacy, vacation rentals offer you a wide range of amenities without attacking your wallet. It’s you and your family enjoying a Paris pied-a-terre, your favorite snack from the refrigerator when you want it. You can impress family and friends with your culinary talent when restaurants and dining out becomes mundane, not to mention less nutritious and way more costly!

Fatal Mistake #1 Reserving last minute
Paris is the #1 visited destination in the world. It is safe to assume that premium vacation apartments are booked months and sometimes even a year in advance during peak season. The saying, “The early bird gets the worm” is especially applicable here.

The longer you postpone your vacation rental booking, the tighter the selection and higher the risk of losing prime vacation rental apartments since there are a limited number of top notch vacation apartments in select Paris neighborhoods.

The highly coveted 2 bed/2 bath or 3 bedroom/ 2 bath in St.Germain des Pres or Le Marais are booked way in advance especially during peak season June, Easter, September, October, Christmas and New Ys week. It not unusual to book, a year or six months in advance to secure these favorable dates. Actually it is strongly recommended to book as far in ahead as possible.

Those who begin their quest two to three months prior to their arrival are considered last minute bookings which are traditionally difficult and it is extraordinarily time consuming to find a suitable vacation apartment. Do not depend on cancellations and postponements which are rare since owners do not look kindly at refunding deposits or rental monies applied. The only way to insure the vacation rental apartment of your dreams is to book far advance.

Fatal Mistake #2 Know your deal breakers
One of the best ways to ensure that you choose the Paris vacation rental that is best for you is by examining and vocalizing your vacation apartment wants and needs. A clear cut idea about the type of vacation apartment, amenities, and any special requirement is crucial to securing the correct vacation apartment for your lifestyle.

You will want to closely examine your vacation style, namely who you are traveling with or what the purpose of your vacation is. Who you are traveling with will most likely play a huge role in choosing a Paris vacation rental. The size of your traveling party will not only determine how big of a rental you need, it may also have an impact on the type of rental apartment you choose.

For instance, families on vacations together may be better suited in a townhouse or a private house, instead of a vacation apartment. What you want to get out of your vacation is another one of the many factors that you will want to take into consideration.

For instance, if you are booking a romantic getaway or a honeymoon, you may want to choose a vacation apartment with a romantic ambiance. Appearances have been known to create romance. You can easily tell if a Paris vacation rental is elegant and luxurious in nature by closely examining pictures.

What you will need to do, while staying in a vacation rental, is also important to consider. For instance, if you are taking an extended vacation, you may need to do laundry or you may wish to eat in your Paris vacation apartment, to reduce expenses. Since you are on vacation and should enjoy yourself, you will want to take the simplest approach possible.

For example, if you need to do laundry, make sure that your vacation rental comes equipped with a washer and dryer. To reduce the amount of time spent cleaning up, consider vacation rentals featuring a dishwasher.

While it is important that you focus on your vacation rental needs, it is also key that you spotlight items on your wish list. For instance, do you want to have a Paris vacation rental that features a swimming pool in the apartment (yes, they do exist), a sauna, cable television, or internet access?

If so, it is important that you request these desires and refrain from securing your reservation until you have weighed your deal breakers.

It is also important that you examine your wants in terms of location. Would you prefer to roll out of bed and be sandwiched by numerous bistros and cafes or would you prefer a quiet residential street,

In keeping with location, it is also important to examine what you want to do, while on your Paris vacation. This can help you choose the Paris vacation rental that is most convenient. For instance, if you are planning on walking everywhere than you want to be in an arrondissement that is close to all the attractions that interest you.

On the other hand, if you know that you will be utilizing the metro, map out the metro stops of the places that you want a visit and reserve an apartment that has a metro line with easy access to those locations.

If you are sensitive to noise, ask about the surrounding buildings. Is the vacation apartment next door or on top of bustling bar or restaurant? Is there a lot of street traffic on your block? This is the ideal

Unfortunately vacation apartment features that you deem essential might be irrelevant to the apartment, do not assume anything. Paris has a different standard of luxury, a different attitude towards life and most importantly a totally different culture.

Parisians do not even think about air conditioning. Most Americans cannot live without air conditioning.

Do you have allergies? If so, think twice about booking an apartment centuries old. Are you willing and able to trek up stairs or is an elevator essential? Are you claustrophobic than maybe a typical Parisian elevator is not for you.

The traditional elevators take a bit of getting use it is important to know this beforehand. Do not expect your booking agent or apartment owner to share these minute apartment details. It is your obligation to be an educated consumer and make sure that the vacation rental will suit your lifestyle.

Should the bedrooms be located on opposite sides of the apartment or next to each other? Do you need airport transfers? Is a stocked refrigerator essential? How often do you want maid service?

When you rent a vacation apartment, you are on your own. Is your French strong enough to secure restaurant reservations and book day trips? Do you want to spend a couple of hours figuring out where the nearest market and metro is or would you like a bit of hand holding?

A professional concierge willing to offer his Parisian expertise may be ideal for you. It does not hurt to inquire with your agency or apartment owners. Not all agencies offer these additional services but it does not hurt to ask prior to booking your apartment. You maybe able to find an all in one agency that will cater to all your needs.

Fatal Mistake #3 Email is good but speaking to a human is better
First-time visitors have little idea of the scale of the Paris area and the quest for a vacation apartment can be more than a little daunting. It is made even more confusing by the vast choice of vacation rentals available and the lack of clear details on the location and apartment.

We know that this has resulted in some guests turning this into a job instead of an opportunity to familiarize themselves with the city and pick the brains of the agencies and owners. Look for agents and owners that will gladly answer all of your questions. Let them know that you have visited Paris since 1982 and pick their brains or what to expect in the different neighborhoods.

The pictures on the web sites usually present the vacation apartment very well but how recent are the photos? Many of the vacation rentals will have heavy wear since they are professional vacation apartments welcoming guests on a non-stop basis. While speaking with the owner or agency does not guarantee quality, yet it does give you the opportunity to ask if the photos on the site truly represent the condition of the vacation rental today.

I know there are many guests who never speak to anyone and solely rely on email correspondence when booking their vacation rental. Successful vacation apartment hunting has one primary tool, the telephone. When you are investing in an experience such as renting a vacation apartment, it is recommended to begin your dialogue with an email but make an attempt to get to know the apartment owner or agency that you are dealing with.

You can email agents and apartment owners, but you can not easily determine whether you like the person you aredealing with via typed messages. Gauge the responses of the agent or apartment owner, and trust your gut. If you feel like you are being pressured, you are. And if you don’t like the person you’re talking to, chances are you’re not going to like the vacation apartments he/she represent. Trust your intuition.

If you don’t get a good feeling, chances are the entire process will be thorny. If the customer service via phone and email is lacking, do you really think it is going to get exceedingly better when you arrive in Paris? Is it better to have a solid mid-range vacation apartment with an attentive and thorough agent or apartment owner or a fabulous vacation apartment with an apartment owner or agent with an attitude? Only you can make that call, but know beforehand, how you are willing to play.

It’s strongly suggested to build a friendly rapport with your agency or apartment owner. You may need last minute assistance or a special favor and it’s always easier to deal with someone that you like and likes you.

 

  Guide To Finding The Right Apartment

Written on April 15, 2016   By   in Apartment

Apartment 2Finding the right apartment requires, time, effort and money. It isn’t very hard to find a good apartment if certain basic steps are followed. The time required to find the correct apartment could be anywhere between 1 to 3 months. The following information can be used as an apartment guide.

Sources
There are many sources available today to help you with your apartment search, such as brokers, newspapers, internet, friends and colleagues. Most of the advertisements detail the area in square foot and number of rooms, furnishings and amenities. The internet is a good way to do an apartment search. There are hundreds of websites listing apartments for rent such as http:// www.rent.net which is a popular apartment finder.

Apartment Requirements
Note down your requirements in a notebook:
* Parking space
* Keeping a pet
* Specific room requirements like office, studio, a work room, a storage room etc
* Closet space
* Number of bedrooms and bathrooms
* Size of apartment in square feet
* Kitchen requirements like microwave, dishwasher, broiler etc.
* Are the rooms big enough for your furniture, beds, sofas, mattresses, fitness equipment, piano etc?
* Amenities like elevators, intercoms, cable TV, gym, swimming pool, air conditioner, washer and dryer etc
* Connectivity and commute time to your work place, and availability of public transportation.
* Safety and convenience of neighborhood.
* Decent view and large windows (especially important for those doing indoor gardening)
* Consistent water supply
* Good security

Inspecting the Apartment
Inspect the apartment thoroughly. It is prudent to check out the actual apartment you are going to rent rather than inspecting a sample apartment.

Affordability
The quality of the apartment, neighborhood and amenities have a direct bearing on the affordability of the apartment rental. Most apartment owners also demand a security deposit and a minimum one-year lease.

Roommate
Having a roommate will decrease the cost of the apartment rental considerably. Roommate listings are available in newspapers and on the internet.

Brokers
If you do not have time to conduct an apartment search, then hiring a broker will reduce a lot of burden. However it is better not to pay in advance and pay only after signing a lease. It is also a good idea to research the approximate cost of rent through newspapers and internet in order to avoid being overcharged.

Documents
Good apartments tend to be snatched away quickly, so keeping documents ready may help in signing apartment rental contract earlier. Documents like check book, bank statements, tax returns, employment letter, reference letters, identification such as driver’s license should be kept ready.

Finding a good apartment needs effort and patience. Doing the groundwork beforehand is a must to finding a good apartment at a reasonable cost. Read the apartment rental terms and conditions thoroughly before signing the apartment rental agreement.

 

  Finding An Apartment With 6 Easy Ways

Written on March 15, 2016   By   in Apartment

Apartment 3To make your search for an apartment less of a hassle, know what you really want and need from an apartment, use online apartment locators, use the services of an apartment hunter or an agent, focus on your priorities, prepare your questions before checking out the apartment, check out apartments with your roommate to save time, and take pictures of the apartment.

Although it can be exciting, finding a new apartment can be one of the most frustrating and time consuming activities you experience. Here are some effective tips that will help lessen the stress of finding the perfect apartment.

Know what you really want and need from an apartment

One thing you will want to think about before you begin looking for an apartment is that you have made sure you know exactly what you will want in your new rental. Consider your apartment measurements, your spending, and other issues before you look at apartments to save time.

Make certain to clearly list your apartment specs. First of all, you need to decide on the location of your apartment. When you are searching online, this is the core element which needs to be identified. For instance, when you key in “Apartment Tangier,” you will find different choices of apartments in Tangier. Some factors in considering an apartment are the nearness to the key places in your life such as your job and public transit plus the desirability of the neighborhood around the apartment. When looking for an apartment, think about your preferred apartment size, number of bedrooms, number of bathrooms, garage space, closet space, kitchen space, and other apartment specifications to hasten your search.

Be clear about how much you can spend. Set a price range of how much you are willing to spend every month for your rental Make sure to always see your financial limitations, even if it leads to giving up some of your apartment wants.

Make note of any worries. And the last thing is you will want to decide what your rental needs to have in it and also what are the things you want it to have. There might be services amenities and services that you require, like the laundry services and a fitness room or gym. Finding a place where pets are allowed might also be important.

Utilize online apartment locators

Once you understand exactly what you want, you are ready to look at apartments. Looking online using sites that help you find apartments cuts down on the expense of the search. If you are looking for an apartment, these locators will be able to help you by specifying your search criteria, including location, size, number of bedrooms and other details. With online locators, you need not go through and look into a thousand other apartments for rent advertised online.

An apartment hunter’s or an agent’s service should be utilized

An apartment hunter is similar to an agent hired by the apartment owner to show their apartments to you. Searching with an apartment hunter will help you save money since you will not be the one paying them. Giving them the details of your wants and needs right away will allow them to assist in finding the perfect rental for you at the same time. On the other hand, an independent agent can help you conduct an objective apartment search.

Set your mind on the priorities in your life

To reduce the problems of locating an apartment, stay focused on your priorities. Use your time efficiently by not viewing apartments that are out of your budget and do not satisfy your requirements. Go straight to those units which meet your specifications and select only from among these apartments.

Write down your questions before you visit the apartment

When you check out an apartment, it is a must that you ask questions to help you choose the right one for you. Before going to the place, make sure you have prepared all your questions and concerns to get things running smoothly at the apartment. Make your visit less tense by jotting down your questions regarding fees, conditions of the unit or of the building, and other important issues that matter to both of you.

To save time, one should look at possible apartments with one’s roommate

As much as possible check out the apartments, when moving in, with one or two roommates. This will help subdue the hassle of relaying the information and opinions to each other and waiting for the others to find out the place on their own. It will help you save a lot of time and hasten your decision in choosing the right apartment.

Photograph the apartment

Finally, it helps a lot to take pictures of the apartments you are visiting so that when decision time comes, it is easier for you to remember what you have seen. Rechecking each unit to ensure you selected the correct place is unnecessary. This will aid you if you plan on having people live with you and they are unavailable to check it out and are relying on your good judgment in selecting a place to reside.

Finding your ideal apartment can be fraught with complications, yet by using this set of helpful hints, you can minimize those. Not only will you be able to save time, money, and energy, but your sanity too when looking for a place to rent.

 

Prizewinning Classy And Ravishing Bangalore Apartments Units

Written on August 28, 2016   By   in Apartment

Amrapali Verona Heights, Amrapali Verona Height, Amrapali Verona Heights Noida Extension, Amrapali Verona Heights Noida, Amrapali Latest Project, Amrapali Construction||+91 8750067513

Project Rate Plan:
Type—————————Size:
2 BHK + 2 TOILET———-975 sq. ft.
2 BHK + 2 TOILET + STUDY–1220 sq. ft.
2 BHK + 2 TOILET———1300 sq. ft.
3 BHK + 3 TOILET——–1450 sq. ft.
4 BHK + 4TOILET+SERVANT—2135 sq. ft.

For Details of the Kalp Palace call @ 8971315026

Amrapali Verona Heights: Amrapali Verona Heights is an upcoming housing project recently launched in the greenery landscapes. It is an ideal project that presents a modern structure for residential purposes. To obtain the peace, serenity and prosperity, this project is the most fruitful and hopeful for possible purchaseers. It provides great pleasure while living in the lap of nature. It presents 2/3/4 BHK luxury apartments ranging the sizes of 975 sq. ft. to 2135 sq. ft. at green locality of the city. It presents a world of luxuries and reliefs. It is the best option for living with peace and care. It can give you golden good chance to purchase the luxurious apartment at affordable price. Aptly located at Noida Extension, the splendid locality is very green and safe area for living purpose. It is very splendid and peaceful area of the city. It is sited very far from overcrowded and pollution free areas. For residential purposes, the locality is very affordable and lovely in all the respects. Apart from this, mostly people want to live in the lap of nature where they can knit their sweet dreams of modern living. They can enjoy the real joy of life. It can be experienced with the great care and love. In addition, deluxe flats are specially designed in the modern styles. They are the best examples of modern period. For prosperous life, it is an ideal address of serenity and peacefulness.

For pre launch offer of the Kalp Palace call @ 8971315026

The Project Highlights-
75% opened areas
Rain Water harvesting
Vastu & Eco friendly layout
Located near shopping complex
Commercial center oriented
Built Near Main Travel points
Area for sports activities
Water body, jogging track & acupressure walk mediation town
Project surrounded by IT parks and green gardens
Situated at 130 meter road 100 meter green belt
Shopping center within complex for everyday requires
International standard specialty hospital within reach
Schools and Nursing homes in close proximity

LOCATION ADVANTAGES:
Located in the heart of the city. Noida Extention
15 minutes drives from Sector – 50
5 minutes drive from Sai Mandir
2.5 kms. Drive away from Fortis Hospital
2 minutes drive from Sector – 32, Metro Station
10 minutes drive from Sector – 18 Market
Well connectivity with DND, NH24 highway

Salient Features of the Project:
Club Features
Ultra Modern Gymnasium.
Cafetaria & Recreational facilities
big swimming pool with Kid’s Pool
Sports Health, Leisure & Entertainment Facilities
Steam, Sauna & Jacuzzi
Amphitheater
Changing Room
Multipurpose Hall
Spa & Salone
Facilities
Concierge services for your easy going & comfort.
Gated development with 24×7 securities
Intercom for every Apartment
Ample Parking Space
CCTV’s for Common Areas
Rainwater harvesting
Kids Play Area
Multipurpose Hall
High speed elevators in each tower
landscaped court.

For The Bookings of the Kalp Palace call @ 8971315026

Yieldstar Apartment Management Software And Apartment Locators

Written on August 23, 2016   By   in Apartment

While Yieldstar may be good for the apartment owners and management companies who use the system, many apartment locators and future residents believe that it may be more of a hassle than it is worth.

In short, Yieldstar is a software management tool that many apartment communities are purchasing today. The selling point for the software is that it analyzes many different forms of data to come up with the best pricing for apartment units. Yieldstar takes into account factors including projected demand, recently achieved rental rates, least terms, move in dates, and other market dynamics that will help apartment communities gain the most amount of revenue for the apartment owners.

While this may seem like a great idea there are some negatives that mostly affect renters and the apartment locators that send their customers to the apartment communities that use the Yieldstar software. And this usually affects the customer if he/she is unaware of the pricing at the community.

Pricing will change daily and hourly at apartment communities that use Yieldstar. We have contacted many communities in the early morning hours for pricing and then relayed that information to our customers, who decided they were going to tour the properties in the afternoon. What we found out later that afternoon was the pricing we quoted our customers had changed by the time they visited the property. And the way of the change was upward in pricing.

When we contacted the apartment community that used Yieldstar, they stated that pricing can go up or down. In our experience pricing usually seems to go up. However, we also realize that our customers would not be so quick to contact us back if the pricing decreased.

What we can tell our customers moving forward is that pricing for the unit and square footage at the time we quote the amount may change in an hour or the next day if they choose to visit the property.

Many locators feel that the pricing should stay static for at least they day they were quoted the price. It is not good business for locators or leasing agents to quote a price to a customer who visits the community that same day and is told the price has changed.

Lending And Loans For Small Apartments

Written on   By   in Apartment

There is the old question that comes up every now and then, –
Should I buy that studio apartment?

They are usually marketed with a very attractive rental return however thats sometimes where the good news ends.

Here is some of the noise that surrounds them-: They wont lend against small inner-city studio apartments, You wont get approval if the floor size is less than 50 sqm, Student apartments are not an option, Some lenders wont lend for apartments in large complexes, Hotel or motel conversions are no good, The location of the unit within the complex is important

While being just noise some of these points are somewhat valid.

The recent credit crisis has put the brakes on a lot of lending overall and small apartments have not been shielded from this

The biggest hurdle is usually lenders mortgage insurance (LMI).

They are the ones imposing all the restrictions that are passed onto the bank.
If you require LMI this is where the hard work starts

Hurdles:

Title. Strata/stratum title is normally acceptable, as are group titles. Mortgage insurers arent usually afraid of company title and will lend, though they may lower their LVR.

Size: While this might not be important to the lender, you can expect the mortgage insurer to have minimum limits on the floor space. Always aim to avoid any apartments with a floor space of less than 50 sqm. It must be 50 sqm of actual living area (not balconies and car space etc). In special cases this may be stretched down to 40 sqm but the property would have to be in a blue-chip capital city area. The Bank may not impose a floor-space limit but notes that LMI might fail the application for that very reason.

Location in the development/complex. One important factor may be whether its in a good location in the development or if its at the dark shaded noisy rear corner of the complex.

Changing from commercial or industrial to residential. Hotel conversions, holiday lettings and serviced apartments (commercial) lettings rather than residential units fall under completely different lending requirements (possibly commercial). So if they are being converted you may not get finance until the conversion is complete providing it meets all councils ordinances and general lenders requirements, most lenders will proceed but there may be a reduced LVR or restrictions on LMI. The biggest reason is youre reliant upon the performance of the management company looking after the apartments.

Number of apartments in a development: There might be a limit on the number of apartments within the one development that you can put up for mortgage insurance.

The bank may limit lending on six apartments in any one development or limit lending for no more than 25 per cent of a development

Do you want an investment apartment loan? Contact Us Here and let us help you out.

More Hoops?? You Are Kidding
Here are some extras hoops you may have to jump through for finance:

-More thorough valuation inspections and reports.

-A lower LVR (70 to 80 per cent max, though some, usually non-bank lenders, only go to 60 per cent) a higher deposit required.

-Reduced maximum mortgage amount.

-More expensive LMI if even available.

-Reduced consideration of the rental income to allow for longer vacancies.

-A call for additional or cross-collateral security(see earlier post here).

-Downright refusal of application at worst!

The fundamentals of real estate remain important, not necessarily the fact that theres a studio apartment. There are plenty of studio apartments that have doubled their value over 10 years. The unit my have great rental returns low vacancy and be located very well so a bit of hard work and research at the start may pay off long term!

So Where Now->

Will your apartment qualify for finance?

Buying Luxury Apartments Is The Best Investment In Bhubaneswar

Written on August 13, 2016   By   in Apartment

Now a days Luxury Apartments are mushrooming in every nook and corner of the country starting from Metros to emerging cities and state capitals over the last few years. Bhubaneswar, the capital city of Odisha is today having many residential apartments and the number is growing every single day. This culture of apartments has invaded the city many years back. Bhubaneswar is now a fast developing city in almost every sector like IT, education and even real estate. This city has drawn the attention and presence of many big real estate companies to the city in no time.

Real Estate Properties in Odisha is the best option for investment as the prices will increase soon due to this developing state. As soon as the economic growth gets back its momentum, you can see the boom in the properties prices. In past few years the real estate values have already moved up to 200 percent, when compared to the values before 5-years.

The demand for apartments in Bhubaneswar is too high. The demand is not just for the budget apartments but the same enthusiasm is for the Luxury apartments in Bhubaneswar. Today, you can find all kinds of luxury like multiple swimming pools, clubhouses, play grounds, multiple indoor and outdoor sports facilities including lawn tennis courts, shopping complex, mini theatres, well equipped gymnasium, jogging track, spacious car parking and many more inside the Apartment premises itself. You dont have to cross the apartment boundary to get anything for you or your family. Many kinds of flats are available for sale in Bhubaneswar starting from single bedroom apartments to Premium 3 BHK Apartments, 2 BHK Luxury Apartments, Luxury Penthouses and many more.

You can now choose the Apartments as per your requirements like how many bedrooms you will need as per your family and also based on your budgets and preferred amenities. There are many advantages with staying a Luxury Apartment or society. The main advantage is the apt security. You will have round the clock security arranged for the apartments. You also have many other facilities like no power cut as there will be 24 hours power back up provided. 24 Hours water supply to everyone and also lifts are available. The advanced and posh specifications like vitrified tiling in all rooms, granite kitchen, stylish bathrooms with premium quality sanitary fixtures and plumbing ,aluminum sliding windows and aesthetically designed doors are also usually a part of these luxurious apartments.

There are many real estate companies who have made their place in the real estate field by offering the best flats and apartments in Bhubaneswar over several years and even decades. Z Estates is such a trusted name in real estate industry of Bhubaneswar, Odisha with over two decades of impeccable track record in delivering over a dozen of finely built apartments with great customer experience. Besides the regular packages and facilities they also come up with many extra offers and luxury facilities. Presently Z Estates in building the largest luxury condominium in Odisha Z1 near Patia on NandanKanan Road, Bhubaneswar, which is nearing completion of its first phase luxury apartments. Interestingly enough, this Z1 luxury apartment complex or condominium boasts of multiple swimming pools, clubhouses, lawn tennis, badminton and basketball courts, shopping mall with multiplex theatre, piped gas and many more modern facilities while having over 20 acres of open space with world class landscaping.

Now you dont have to buy an already constructed apartment, rather you can book the apartment slot and give or select your specifications, fittings and furnishing and the apartment would be made according to your choice and taste. Investing on luxury apartments is also a best option as the price will never depreciate. You always get good value with every passing day.

Legal Aspects Of Leasehold Apartments And True Codnominiums In Thailand

Written on July 14, 2016   By   in Apartment

A multi-unit residential building in Phuket could be registered and licensed as a condominium building and an exact copy of the building in Koh Samui could be a leasehold apartment complex. There is no way to see from the outside if it is a licensed condo or unregistered apartment complex.

The sale and legal structure of a condominium registered under the Thailand condominium Act is completely different from sale and legal structure of an unregistered apartment complex. The main difference is that apartment complexes do not offer freehold ownership over the individual units and are not regulated by specific condominium laws. Apartment complexes are sold under various contract structures which vary from mere apartment leases (where the developer retains full ownership) to leases combined with shares in a holding company. Beware, purchasers of units in apartment complexes do not find protection in the law as with registered condominiums and the contract structures and intention of the developer of an apartment complex should be triple checked.

The main differences are:

A condominium REGISTERED under the Condominium Act offers:

1. Legally recognized government issued and administrated individual ownership title deeds.
2. Foreigners must qualify for ownership within the foreign ownership quota of the condominium.
3. The owners are free to sell, encumber and dispose of their condominium unit.
4. Co-ownership in the common areas of the condominium, including the land on which the building sits.
5. Management and control over the building lies by law with the unit owners and have a legally set democratic voting right system.
6. A condominium development is a contract controlled business and must offer minimum consumer protection.

An apartment complex NOT REGISTERED and licensed as a condominium offers:

1. Individual lease agreements over the units as part of the building.
2. Foreigners do not have to qualify for lease registration under a special law and there is no foreign lease quota.
3. Selling (assigning their interest) requires cooperation of the owner of the building (developer).
4. The occupants of the building are basically tenants and have to comply with rules set by the owner of the building.
5. Control and management over the land and building lies by law with the owner of the land and building.
6. The contract sale structure under which leasehold apartments are sold could go either way, pro lessee or pro lessor/developer.
7. These units are subject to housing and land tax.

Legally there is nothing against leasehold apartments and generally these apartments are less expensive, but these apartment structures do not offer the same protection in the law as is offered in a licensed condominium development project. One offers government control, actual ownership and protection under the Thailand Condominium Act and Consumer Protection laws, the other offers possession through a lease agreement under the Civil and Commercial Code, and if any offer individual protection through private agreements.