It is recommended to research a list of real estate agents to help to find a suitable accommodation in Vietnam. Recently, Vietnamese government has passed a policy which allows foreigners to buy a house in Vietnam. The policy has given foreign employees in Vietnam several advantages to save cost for renting per month. However, the price of real estate in Vietnam is considered rather high. As a result, if you have not worked in Vietnam for a long time with a high-salary job, you cannot access to a house in Vietnam. Therefore, house for rent system is a preferred way. It is easy to find an apartment of all price in condominium resident in large cities. Besides, there are many companies in Vietnam providing this service.
There are a numerous number of foreign organizations and individuals working in Vietnam. The market of house for rent in large cities is so abundant that a foreigner can easily find an available apartment or office without a broker. However, not everyone is clear about regulations and procedures for foreigners renting house in Vietnam. Therefore, not to break the law, foreigners should consult following regulations. According to Vietnamese law, foreign organizations and individuals who are eligible for entry in Vietnam for 3 months or more are permitted to rent an apartment. This regulation is also applicable for the Vietnamese inhabiting in other countries. Accommodation for rent in Vietnam must meet all following requirements:
Be granted with an ownership certificate that meets the provisions of the Law on Housing and the apartment
Be enclosed and separated from one another
Meet the quality and safety requirement
Meet the safety standards of electricity, water supple, environmental sanitation, security and fire prevention
Be free of disputes over ownership and use rights
Be registered under a specific address and outside of state security and defense areas
The ownership of the accommodation for rent has to be the original owner or the representative of the owner in accordance with the law, who is capable of civil action, or organization eligible for renting house.
A contract of house for rent in Vietnam must contain names and addresses of both parties, the description of house for lease, the price and the method of payment, the time for receiving apartment, the time-limit for lease, rights and duties of each party, commitment of each party, other agreements, the date of signing contract, and signatures of both parties. The house lease contract is notarized except for cases: individuals provide house for rent in less than 6 months, the lessor is an organization eligible for providing house for lease. After the house lease contract becomes effective, the lessor has to make procedure of residence declaration at the provincial police station. The procedure includes passport, entry declaration, temporary residence certificate and visa. The lessor has to make a list of foreigners declaring temporary residence and submit it at provincial Police office.
The value added tax of leasing house service imposes on the lessor. The tax rate of this service is 10 percent. However, the individual lessee has to cover the income tax with tariffs as follow:
- The income up to 5 million VND: 5%
- From 5 million VND to 10 million VND: 10%
- Over 10 million VND to 18 million VND: 15%
- Over 18 million VND to 32 million VND: 20 %
- Over 32 million VND to 52 million VND: 25%
- Over 52 million VND to 80 million VND: 30%
- Over 80 million VND: 35%
The price of house for rent in Hanoi fluctuates time to time. In Hanoi, the area around the West Lake is the most crowded places of foreigners living and working in Vietnam. There are a large number of choices from furnished apartments to separated villas. The price here ranges between $ 1800 and $ 2500 per month. Those who want to find a house with average quality may take Nam Trung Yen area (Tu Liem District) into consideration. The monthly rental price here ranges between $ 600 and $ 700. Regulations are recommended to follow correctly not to cause any unnecessary trouble. Hopefully, above essential information are useful for those who want to rent an accommodation in Vietnam.