Inflated rent eats up 35% of my $510 monthly income

May 14, 2024 | 03:08 pm PT
Inflated rent eats up 35% of my $510 monthly income
Houses in HCMC. Photo by VnExpress/Lucas Nguyen
I am worried that my rent, which consumes over a third of my VND13 million (US$510.6) monthly income, might be inflated by sublessors.

I am 25 years old and currently working as an office employee in HCMC. My current salary is VND13 million per month. However, monthly rent costs me VND4.5 million, nearly 35% of my income.

Rentals in my area are quite expensive. A small basic dormitory room could cost VND3-4 million per month. If you want additional amenities like air conditioning and private bathrooms, the rent will be even higher.

The high rent forces me to tighten my belt as much as possible. I often cook at home instead of eating out, only buy new clothes when absolutely necessary and rarely participate in entertainment or social activities.

The financial stress resulting from the rent always makes me feel anxious and uneasy. Every month, I have to carefully manage expenses to ensure that I have enough money to pay rent and other living expenses. This makes me unable to enjoy life and affects my mental well-being.

Efforts to find more affordable housing have proven challenging, as sharing a room with friends or acquaintances risks straining relationships, while cohabiting with strangers raises concerns about security and theft.

I have often wondered how rents have risen to VND4-4.5 million per month for just a 20-square-meter room while they were much cheaper a few years back. And I think I have found an answer: sublease. I recently discovered that some people profit by leasing properties that they themselves rented.

The property owner might charge them only VND2.5-3 million per month, but these sublessors then rent out the place to sublessees for as much as VND1 million more than the original rate.

After my current lease expires, I might be able to save some money if I directly rent from property owners. Has anyone else experienced inflated rent due to sublessors?

Reader Duc Nguyen

*This opinion was translated into English by AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.

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