HCBE Faculty Articles

Title

Decision-Making Factors in Renting an Apartment: A Study of Tenants and Small Business Owners in Lat Krabang, Bangkok

Document Type

Article

Date

1-1-2011

Publication Title

Journal of International Business & Finance

ISSN or ISBN

0275-5319

Volume

3

Issue

1

First Page

61

Last Page

85

Description

This research focused on selected renters of apartments in the Lat Krabang district of Bangkok as it has become a strategic business area in the city. This study investigates the factors influencing the decision of apartment renters while also inquiring into operational management of apartments. The study collected 399 responses from tenants and business owners to determine whether demographical characteristics affected their decisions to rent apartments. Through hypothesis testing, it was found that the factors of age, income level, occupation, place of birth, educational level, and nationality have a significant influence a person’s decision to rent an apartment. The most popular method for entrepreneurs to advertise was on billboards in front of buildings. The rental occupancy rate is approximately 90% and most entrepreneurs did not require any specific qualifications from renters. The business owners personally collect rent and manage the day-to-day operations of their apartments. The specific results and implications for entrepreneurs, builders, and managers are discussed.

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