Rentals in US Dollars

Technically it's illegal. The same way a lot of things are illegal here.

But that doesn't stop people from doing it.

I used to pay rent for my last place in USD and it would fluctuate every month and often pissed me off .

However, the place I live in now is a fixed contract in Vietnamese dong.

It's simple, tell them you want the contract in Vietnamese dong as per Vietnamese law or just walk away.

it's not a problem.

I rent out apartments, in us dollar, and this will be converted  in Vn dong according the official rate the bank gives us, We ask us dollar as this is more easy for the people who come in. Sign a years contract and the price is fixed for a year.
Simple.

Thank you for your opinion.  However I asked for the rental in VND and the Landlord refused.  I liked the Apartment and thus suffered the ever frustrating fluctuation in the USD buying Rate.

The fluctuation has been one way: VND (and most currencies) has been losing value to USD for years.
  xe.com/currencycharts/?from=USD&to=VND&view=2Y
It is to the financial advantage of a long term renter to pay in VND; and for a landlord to receive USD.

Easier to pay in dollars? How is that? You can only legally carry in $5k or $6k.
I pull money from a US bank at ATMs and it only comes out in VND.
If I had to pay rent in USD, I would have to do 2 currency conversions in the bank's favor + lose on forex!
My rent would be going up every month. No thanks, I'll pay in VND.

Usually price is quoted in US$ but paid in VND cash at whatever exchange rate on day of payment. I wouldn't want to pay in US$, lose too much via forex fees (AUD>US>VND).

The issue is further exaggerated when I have to draw money from the ATN in Thai Baht to suit the said sum of the USD Rental Payment. I would certainly like to challenge the Landlord on the matter of legality.

Not wanting to hijack the thread but I think this related thus OK.

If you are negotiating rent/contract how reasonable is it to try to negotiate set rate and getting a discount by offering to pay in advance every six months [deposited into the landlord's bank account for record/receipt proof]?  An example for clarification:  Landlord is demanding $400 USD / month for a one year lease, I would like to offer them the current conversion of $375 USD = 8.428.125 VND X 6 months = 50.568.750 VND for six months.  In six months repeat the process with whatever the market conversion for USD to VND is.

Opinions welcome.

I abhor having to get USD if I am sitting on VND or get VND from an ATM and agree with other posts about the undesireable costs.

I think according to VN law  house or apartment contract should be in VND  so there is no way to pay in USD

There  is no argument just  follow the  contract.

Two things strike me.

If it's anything like here, the only rents quoted in US$ are aimed at expats, and usually far too high, way above market value.
Assuming that's the case, simply ignore the adverts.

Paying in Dollars is expensive and a pain - another reason to ignore the adverts.

From what I gathered ... although there are housing/apartment contract laws, anything goes in VN so long as it's spelled out clearly in (VND or USD).  A friend of mine negotiated, written, and paid in US dollars.  And Pal, I've known a case like yours negotiated a monthly rent price based on 2 installed payments annually.  Again, it depends on landlords and agencies, and supply and demand at the time.

It is illegal...unless you're doing business with the government.  They're the only one's that demand dollars, as opposed to their own currency.  Talk about instilling confidence(not).

You'll never see enforcement on your behalf; unless you have someone in the family that can lean on the landlord. 

They probably want the rent paid in VND at the current rate, but if you've already paid in dollars that's what they'll expect/demand.

nikichan wrote:

xxx

Please noted  this is a place people who need to share their experience. Not for using business purpose

All, please note that any rental contract in USD is illegal under Vietnamese law. (obviously, enforcement by authorities and compliance are a whole different kettle of fish - but this is the basepoint to work off)

So all you expats out there, make sure your rental agreement is in VND - it makes commercial and legal sense.