Rentals

  • Welcome to the newly upgraded forum. If you spot any problems or issues please post them here

harryopal

Well-Known Member
May 5, 2016
671
263
63
It seems suddenly owners of properties for lease are now seeking rental payments double or triple what have been the previous amounts requested. Here in Jimbaran quite ordinary houses, not villas, are seeking rental amounts at upwards of $170 a week for something which previously may have been $80. Our 5 year lease expires in February so it will be interesting to see how we go with negotiating a new lease. Ours is a basic, two storey house with a reasonable size lounge/kitchen; a small ,main bedroom with ensuite bathroom. A smaller bedroom upstairs with ensuite and another small room which we basically use for storage. Gated parking and small to tiny gardens front and back.

Anyone else noticed this trend?
 

harryopal

Well-Known Member
May 5, 2016
671
263
63
  • Like
Reactions: YachtRock

YachtRock

New Member
Nov 2, 2022
12
6
3
Tabanan, Bali
Yes, it's a global trend for sure but the reasons are different depending on location. What do you all reckon is the catalyst here in Bali? If I had to guess, the pandemic really did wonders for the remote work movement that seems to be permanent.

I've noticed wayyy more "digital nomad" types in Bali than ever before. This could be putting pressure on the rental market in certain areas of Bali. as we all know, as demand increases, supply decrease and property owners are more than happy to jack up the price to meet this demand.

I personally also know some Balinese property owners who admitted to me over some arak that they were intentionally raising their guest house prices to make up for lost cash they lost during the pandemic. That has nothing to do with supply and demand per say but moreso just taking a gamble and seeing how high they can push the price before bookings decrease.
 

PERtoDPS

Active Member
Dec 31, 2018
537
157
43
Happening really badly here in Sydney, though not quite 2x or 3x the rent but I've seen close to double for tiny inner city apartmentments that were considered very hard to rent and heavily discounted in covid times.
 
  • Like
Reactions: YachtRock

Mark

Well-Known Member
Apr 19, 2004
848
284
63
Yes, it's a global tr

I personally also know some Balinese property owners who admitted to me over some arak that they were intentionally raising their guest house prices to make up for lost cash they lost during the pandemic. That has nothing to do with supply and demand per say but moreso just taking a gamble and seeing how high they can push the price before bookings decrease.
That's the definition of supply and demand. Seeing how high or low prices can be pushed by the market given the circumstances, until some sort of equilibrium is found.
 
  • Like
Reactions: YachtRock

harryopal

Well-Known Member
May 5, 2016
671
263
63
That's the definition of supply and demand. Seeing how high or low prices can be pushed by the market given the circumstances, until some sort of equilibrium is found.
It is also classic capitalism as defined by Marx. The end result now seems to be pretty well world wide that house prices and rentals are squeezing every last available drop of blood and leaving millions more in poverty.
 

AuroraB

Active Member
Dec 17, 2021
113
77
28
The problem is not only greedy landlords: I found the following on facebook for Sanur Property from today, posted by possibly a Russian lady:

"sanur! Still looking for a villa of 3 bedrooms or more. luxury, clean, fresh. up to $8000. for a month's rent. family of 2 adults and 2 children."
 
  • Wow
Reactions: YachtRock

tel522

Active Member
Oct 30, 2015
535
114
43
The problem is not only greedy landlords: I found the following on facebook for Sanur Property from today, posted by possibly a Russian lady:

"sanur! Still looking for a villa of 3 bedrooms or more. luxury, clean, fresh. up to $8000. for a month's rent. family of 2 adults and 2 children."
Too many "mafioso" on this island ,with bags of "dirty money " in particular ruskys ,imho .
 
  • Haha
Reactions: YachtRock

Markit

Well-Known Member
Sep 3, 2007
8,830
670
113
Karangasem, Bali
The problem is not only greedy landlords: I found the following on facebook for Sanur Property from today, posted by possibly a Russian lady:

"sanur! Still looking for a villa of 3 bedrooms or more. luxury, clean, fresh. up to $8000. for a month's rent. family of 2 adults and 2 children."
The price wouldn't be all that surprising for just one month or 2 but if it's long term that's a different thing.
 
  • Haha
Reactions: YachtRock

YachtRock

New Member
Nov 2, 2022
12
6
3
Tabanan, Bali
The problem is not only greedy landlords: I found the following on facebook for Sanur Property from today, posted by possibly a Russian lady:

"sanur! Still looking for a villa of 3 bedrooms or more. luxury, clean, fresh. up to $8000. for a month's rent. family of 2 adults and 2 children."

You make a very good point. I'll share this story I heard the other day from a friend of mine currently shopping around for contractors. He is a very budget-conscious guy and he said he's found the majority of contractors won't give him the time of day for that very reason.

They are so used to many foreigners coming over here with boatloads of cash, no common sense, and a need to spend it all very quickly. Hence, they think that all foreigners are like that perhaps? Can't really blame them when there are lots like that on the island.

Kind of ruins it for us regular guys just trying to get a fair price
 
  • Like
Reactions: tel522

AuroraB

Active Member
Dec 17, 2021
113
77
28
They are so used to many foreigners coming over here with boatloads of cash, no common sense, and a need to spend it all very quickly.
I can only guess that the KYC (Know Your Customer) concept in order prevent money laundering is not very strong here (I'm trying to be nice).
So the more money spent on a property transaction the more money gets laundered! I'm not expecting any major clampdown on this activity as nobody want to stop foreigners from overspending!
 
  • Wow
Reactions: YachtRock

YachtRock

New Member
Nov 2, 2022
12
6
3
Tabanan, Bali
I can only guess that the KYC (Know Your Customer) concept in order prevent money laundering is not very strong here (I'm trying to be nice).
So the more money spent on a property transaction the more money gets laundered! I'm not expecting any major clampdown on this activity as nobody want to stop foreigners from overspending!
Damn, you nailed it. There is no way that many people can be so stupid to overpay for property like we see all the time. This has to be it.
 

Markit

Well-Known Member
Sep 3, 2007
8,830
670
113
Karangasem, Bali
You make a very good point. I'll share this story I heard the other day from a friend of mine currently shopping around for contractors. He is a very budget-conscious guy and he said he's found the majority of contractors won't give him the time of day for that very reason.

They are so used to many foreigners coming over here with boatloads of cash, no common sense, and a need to spend it all very quickly. Hence, they think that all foreigners are like that perhaps? Can't really blame them when there are lots like that on the island.

Kind of ruins it for us regular guys just trying to get a fair price
Don't use a contractor then.
 
  • Like
Reactions: YachtRock

RossM

Member
Jan 19, 2022
75
43
18
Yes, it's a global trend for sure but the reasons are different depending on location. What do you all reckon is the catalyst here in Bali? If I had to guess, the pandemic really did wonders for the remote work movement that seems to be permanent.

I've noticed wayyy more "digital nomad" types in Bali than ever before. This could be putting pressure on the rental market in certain areas of Bali. as we all know, as demand increases, supply decrease and property owners are more than happy to jack up the price to meet this demand.

I personally also know some Balinese property owners who admitted to me over some arak that they were intentionally raising their guest house prices to make up for lost cash they lost during the pandemic. That has nothing to do with supply and demand per say but moreso just taking a gamble and seeing how high they can push the price before bookings decrease.
My observation is that HOTEL prices are about the same, and a couple I've booked for my next stay are marginally less than they were in 2020.
 
  • Like
Reactions: YachtRock

RossM

Member
Jan 19, 2022
75
43
18
You make a very good point. I'll share this story I heard the other day from a friend of mine currently shopping around for contractors. He is a very budget-conscious guy and he said he's found the majority of contractors won't give him the time of day for that very reason.

They are so used to many foreigners coming over here with boatloads of cash, no common sense, and a need to spend it all very quickly. Hence, they think that all foreigners are like that perhaps? Can't really blame them when there are lots like that on the island.

Kind of ruins it for us regular guys just trying to get a fair price
The scenario you paint of foreigners arriving with a bucket of cash and a desire to spend it fast reminds me of a post I saw a few days ago.
Some clown said he willingly pays A$50 for a car airport to Seminyak and vice versa (a Bluebird is about $10 max), $20 for a massage (normal $10), and tips everybody, including the front desk staff at hotels. When I pointed out that he makes it tough for everybody else, because a 'new normal' price is established, I was branded a tight ar$e.
 

YachtRock

New Member
Nov 2, 2022
12
6
3
Tabanan, Bali
The scenario you paint of foreigners arriving with a bucket of cash and a desire to spend it fast reminds me of a post I saw a few days ago.
Some clown said he willingly pays A$50 for a car airport to Seminyak and vice versa (a Bluebird is about $10 max), $20 for a massage (normal $10), and tips everybody, including the front desk staff at hotels. When I pointed out that he makes it tough for everybody else, because a 'new normal' price is established, I was branded a tight ar$e.
I've been saying this for years! I am also branded as a tight ar$e for the same thing. I always get the "but in "insert home country here" the price would be so much cheaper, so why are you complaining?" line.

yes, that's true. but they are missing one big part. We are not in "insert home country here" We are in Indonesia and there is a fair price for everything here that is different than back home.

When locals "scam" foreigners, I do not blame them. They are only taking advantage of opportunities they've had in the past from foreigners with this mindset.
 
  • Like
Reactions: RossM