Pay apartment rental by US Dollar or VN Dong?

I paid 12 months in advance and in USD, the management team was able to get my rent lowered by $200 per month because of those two parameters , I believe most landlord would Prefer usd because of the fluctuation of the VND

I imagine it depends on the preference off the landlord.. mine quotes the prices in USD but I pay her in VND

Hi Xaviar84,

When u said pay in VND, mean it is certain amount of money in VND or it is in USD and convert to VND currency?

Technically, it's illegal for them to even quote you a price in dollars.  That's for any service, or product.  In reality, it's obviously happening on a wide scale.  Those of us that work here are usually quoted our salaries in dollars, so I've usually went along with it, as long as they're not actually expecting me to go out a buy dollars.  That's something that could get you in trouble, if someone is looking to maker an example out of somebody.  Plus, it's an inconvenience that you really don't need.  Life here comes packed with pits and pratfalls for you to avoid, whenever possible. 

If they insist on paper dollars, walk away...unless you're dealing with a government agency.  Then, it's not only legal, but it's expected.   

My first landlord would only take USD which required a trip to the gold store every month. Our current landlord is paid in VND straight from my wife's account

big15096 wrote:

Hi Xaviar84,

When u said pay in VND, mean it is certain amount of money in VND or it is in USD and convert to VND currency?

Prior to moving in she told me it would be $250 a month.. but when I pay her the rent each month I simply convert it from USD and pay her in VND. I would not stay here if she insisted on me paying her in USD each month as it would be far too much of an inconvenience for me.

Like others have said, a lot of things (hotels, house/room rental and job salaries) are often quoted in USD. Perhaps this is for simplicity as it is far easier for tourists to relate to USD more so than VND... $250 vs 5.319,148,94 VND 

Being simple has something to do with it! 

There's also the stability issue.  Some have more faith in the USD, or gold, than in the VND. 

Some just want what they feel; that they deserve...from you! Foreign = rich = pay me in dollars.  If you're not rich, you should be!  That seems to be the line of thought a lot of landlords use.

Then there's the influence that 1 million plus refugees landing in a country, and then sending money home brings with it.

For the first three year that I lived here a person could actually walk into one gold shop, buy dollars, walk to the next gold shop, sell the dollars and turn a decent profit.  It was the black market, which still exists, but to a much smaller scale (I think).  The difference between the bank rate and what the gold shops would p[ay for hard currency was between 1 to 3K VND more for each dollar.  That adds up. 

They put the brakes on the whole thing after it was revealed that some people were going to Cambodia and withdrawing large sums of USD from ATM's , then heading back in with their all-time avorite, number one, lucky, California, he never was president, American - Ben Franklin, who is as recognizable as Vladimir Lenin is, to the average Viet.  I found that shocking, once upon a time. 

The influx of hard currency was contributing to the falling dong, which was being devalued regularly enough that you could use that as a marker of time as accurately as using the Sun, the Moon, or the seasons!  Usually, the devaluations would come prior to the big holidays, like Tet.  The thinking was that the long holiday would give everyone time to calm down and not make a run on the banks.  It appears to have worked, as did the crackdown on the Black Market.

Around that time they cracked down on businesses that were posting their prices in USD.  A few were unfortunate enough to be used as examples, then it all just went away, as things do here sometimes.  You'll still find business owners that don't want you waving foreign currency around in their place.  They could be fined heavily, if suspected of buying and selling foreign currency.

WTF 

It's an understanding between landlord and the tenant. If you want to pay VND just tell them at the time of contract. (Usually contracts are made with VND) Even though the contract is with VND, you can ask them for paying by VND in case you would like to pay the rent in USD. We pays our rent in VND via bank transfer. It's convenient for both.

I have an issue, and also had the issue before I signed the Apartment Lease in HCMC, of paying my Monthly Rental in USD.  I was of the strong opinion that it was against the law to pay for Vietnamese Services in any currency other than VND.
In the meantime my Company had to cease paying me in USD in Vietnam (cash-per diem) and had to pay into my Thai Bank account along with my salary paid direct from the US Company each month.  So I have to use the ATM to draw a vast amount of VND from my Thai Bank each month.  Each transaction of 4 to 5 million VND (maximum transaction) costs me a transaction fee.  At this juncture I have six or seven transaction fees each month.  Now on top of that is the strengthening of the US Dollar against Vietnamese Dong and also the Thai Baht. 
In simple terms I have multiple additional costs which I have no control of.  The rent I now have to pay is much more than I had contemplated when I signed the Apartment Lease Contract.  Whilst the Landlord has just agreed to reduce the rent by 50 USD such does not maintain the considered Lease monthly Value of two years ago.

Could someone advise me if it is legal to have my lease payment to be in USD?

I suggest seek legal advise- should be a tax deduction anygphow or don't you have to pay taxes etc..

in shopping malls & markets what is the currency they accept? I am asking because I watched one video clip and the sales girl was telling price in US dollars. I am confused. We are arriving VN in December. What are the currency we should bring? Both US Dollars and VN Dongs?

Yoda says bring USD as you can always exchange to VND when you are here.

Thanks Yodha

It is illegal to have lease payments in USD in Vietnam.  VND only.

If the company you work for is a foreign-invested company, then they are permitted to pay your salary in USD in Vietnam.

It's daft to pay in Dollars for most goods and services anywhere in the world save the US of A or other places it's the national currency.
If you do so in Asia, the seller sees a mug with more cash than brains, probably leaving you paying more than you should.

People ask US Dollars because usually tourists have only dollars to spend, this is the reason why. But if you are not a tourist tell them immediately: Dong prices please!

It is up to you!

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