CM Condo Rentals through the Roof!

[Stubby 208]

Hi, Folks.

 

I’ve been getting into the habit of searching for properties and what to expect within budget. There have been some pleasant surprises with houses, but condos seem pretty static. It's proving interesting, though.

 

Anyway, the reason for the update is to ask anyone in the know about upfront payments. I’ve always done one month in advance and two months’ security deposit. But I’m sure I read some time back that security deposits were only one month now. Am I wrong? And what was the reason for the change, if I’m right?

 

The reason I ask is that a lot of landlords and agents are still advertising 1+2. Just curious, that’s all.

 

I’ll pay whatever is right at the time, but don’t want to hand over more than is legal when I find my new pad.

 

Thanks in advance.

 

Stubby

[BritManToo 44,453]

1 hour ago, Stubby said:

I’ll pay whatever is right at the time, but don’t want to hand over more than is legal when I find my new pad.

1 month deposit, 1 month rent in advance.

Just pass up anyone asking for 2 months deposit.

[Stubby 208]

2 hours ago, BritManToo said:

1 month deposit, 1 month rent in advance.

Just pass up anyone asking for 2 months deposit.

Thanks, BritManToo. I thought I heard something about that, but I can't remember where or from who. Any idea why the change occurred? It seems that quite a few landlords are still oblivious to the new rules, going by many of the ads.

 

Stubby 

[rumak 7,310]

1 hour ago, Stubby said:

Thanks, BritManToo. I thought I heard something about that, but I can't remember where or from who. Any idea why the change occurred? It seems that quite a few landlords are still oblivious to the new rules, going by many of the ads.

 

Stubby 

   The more stringent laws pertain to owners that have 5 or more properties.  you can type something like that into google and read up on it.      the threads about renting turn into the usual arguments with the usual mud slinging.     there are good landlords and bad.   good tenants and bad.    bm2 can do whatever he wants   and of course each person can make his own decisions about what is fair or not.   Stubby, you should do research before posting as I think most landlords are not oblivious .  

 

Edited October 20, 2019 by rumak

[Stubby 208]

18 hours ago, rumak said:

   The more stringent laws pertain to owners that have 5 or more properties.  you can type something like that into google and read up on it.      the threads about renting turn into the usual arguments with the usual mud slinging.     there are good landlords and bad.   good tenants and bad.    bm2 can do whatever he wants   and of course each person can make his own decisions about what is fair or not.   Stubby, you should do research before posting as I think most landlords are not oblivious .  

 

Fair enough, I was just curious that's all. I've had a few landlords over the years, and only one of them was bad - at the end.

[rumak 7,310]

44 minutes ago, Stubby said:

Fair enough, I was just curious that's all. I've had a few landlords over the years, and only one of them was bad - at the end.

i just was surprised that you were so quick to take one guys post to be a fact.  Google really is a good start for anything ( though you have to still sort through the tons of info).  Type in "new rental laws for Thai landlords"  or something similar .   Of course you have to read a little further if you want to find all the info,

like the small fact as to who is exempt, etc.    

There are good reasons why many landlords want a reasonable ( to them) deposit.   The ones who unfairly try to keep it are a......holes.    All relationships should be honest and respectful.   haha   We all know that is not so easy

[moontang 2,253]

My attorney bought a 2/2 on 60 wah at Baanwangtan for me in 2006.  915,000 and I cleared 38.96 on the wire to the USD.  My first visitor toured the moobaan with me and stated:  "I don't think you will get burglarized, can't say the same about a dog bite, though." 13 years later, it is likely same same.

[bkk6060 13,044]

Your lifestyle desire and place of preference to live your life are not worth an extra months deposit?

I certainly would not pass on it for that reason.

Seems dumb.

Edited October 22, 2019 by bkk6060

[moontang 2,253]

1 hour ago, bkk6060 said:

Your lifestyle desire and place of preference to live your life are not worth an extra months deposit?

I certainly would not pass on it for that reason.

Seems dumb.

You need to draw the line on utility scam, too, and you could add quality/age of the ac system to the list.  Now Rock hard bed, you can almost get used too.  

[bkk6060 13,044]

9 minutes ago, moontang said:

You need to draw the line on utility scam, too, and you could add quality/age of the ac system to the list.  Now Rock hard bed, you can almost get used too.  

Not really related to my point.

If a person finds what they feel is the perfect place for them.  Checks all the boxes.

Yet, some recommend passing if they want 2 months deposit?  I think that is a dumb decision.

It is not always easy to find a place here that meets most ones needs. If they find one and the only sticking point is an additional months depoist, I would pay it in a second.  In fact I have and never been disappointed and always got all my deposit back.

 

[fhickson 512]

36 minutes ago, bkk6060 said:

Not really related to my point.

If a person finds what they feel is the perfect place for them.  Checks all the boxes.

Yet, some recommend passing if they want 2 months deposit?  I think that is a dumb decision.

It is not always easy to find a place here that meets most ones needs. If they find one and the only sticking point is an additional months depoist, I would pay it in a second.  In fact I have and never been disappointed and always got all my deposit back.

 

2 months deposit is a sign the landlord needs money right away. thats not a good sign.
not always a damage cover, read between the lines.

[moontang 2,253]

3 minutes ago, fhickson said:

2 months deposit is a sign the landlord needs money right away. thats not a good sign.
not always a damage cover, read between the lines.

agreed, and you sure as heck don't want to give them less incentive to keep you happy.  Thais do about as well with money, as they do with water and animals.  

Edited October 22, 2019 by moontang

[bkk6060 13,044]

16 hours ago, fhickson said:

2 months deposit 
not always a damage cover

Yes it in fact is.

[beau thai 885]

not at all unusual for tenants to cause damage or leave excess cleaning, not pay water/electric before they disappear- or take a 12 month contract because its cheaper than the 6 months they wanted, then invent a sob story to try to get deposit back after 6 months, leaving the owner with a vacant unit in low season. 

Not a one way street. Not all tenants are angels or landlods, devils.  2 months in a cheap condo will barely cover the cost of a tv.

One tenant I know of got her deposit back in the evening as she had early flight the next day and was then seen on cctv after that walking out with the flat screen tv! Even with copy passport, hard to get redresss from China!

[moontang 2,253]

I would charge one month, but would make them show me their credit report. I rented to some Hong Kongers 22 years ago, and they had a credit score.  Would have to have a long stay visa, too.  Way too many Facebook posts looking for subletters for the last 10 months of their lease.  Meanwhile, some good diversified REITs are yielding 7+%, some even paid monthly, so it is a head scratcher (and hopefully not lice from tenants), as to why people become landlords in a foreign country, with net yields mostly below 5%.