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

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.

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 

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 .  

 

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.

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

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.

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.

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.  

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.

 

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.

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.  

16 hours ago, fhickson said:

2 months deposit 
not always a damage cover

Yes it in fact is.

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!

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%.

if you imposed terms like that in Chiang Mai you would be a long time empty, especially now with more condos chasing fewer tenants.  And I quite agree, at 5% it would not be worthwhile. Much better options to buy and sell at the click of a mouse.

3 hours ago, moontang said:

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%.

Wow, rented to some Chinese 22 years ago thanks for the updated info....

The head scratcher for me as you are talking about investment.

Why would anyone buy anything in Thailand period for investment??

Certainly under the current conditions, seems reckless and uninformed....

 

18 minutes ago, bkk6060 said:

Wow, rented to some Chinese 22 years ago thanks for the updated info....

The head scratcher for me as you are talking about investment.

Why would anyone buy anything in Thailand period for investment??

Certainly under the current conditions, seems reckless and uninformed....

 

Walking across the street is a gamble, buying a lottery ticket is an investment.  

Just a quick update for anyone following this thread.

 

I've been busy looking for a new place to live these past weeks. Condos still seem expensive, especially the modern 1 bed joints that average around 10,000 THB, or more. And an extra bedroom can bump the price or by 6-8000 THB, even if the living area is the same. I'm talking new and modern here. I didn't check out any older buildings.

 

THE PROBLEM WITH OLDER CONDOS

 

I lived in a 30-year building once, and it was quite nice inside. The problem with older condos is that there always seems to be someone renovating. Hammer drills and persistent banging is fine if you're out all day. But it's blooming headache if you happen to be home Monday to Friday between the hours of 10 am to 5 pm.

 

ROOM FOR A PONY

 

Anyway, I took the plunge and decided to try my first house in Thailand. It's a two-year old single-story pad with 3 bedrooms, two bathrooms, and a small, low-maintenance garden. There's so much space compared to what I'm used to. Heck, I'll probably have a brief spell of agoraphobia until I adjust lol ????

 

Stubby

 

4 hours ago, Stubby said:

Just a quick update for anyone following this thread.

 

I've been busy looking for a new place to live these past weeks. Condos still seem expensive, especially the modern 1 bed joints that average around 10,000 THB, or more. And an extra bedroom can bump the price or by 6-8000 THB, even if the living area is the same. I'm talking new and modern here. I didn't check out any older buildings.

 

THE PROBLEM WITH OLDER CONDOS

 

I lived in a 30-year building once, and it was quite nice inside. The problem with older condos is that there always seems to be someone renovating. Hammer drills and persistent banging is fine if you're out all day. But it's blooming headache if you happen to be home Monday to Friday between the hours of 10 am to 5 pm.

 

ROOM FOR A PONY

 

Anyway, I took the plunge and decided to try my first house in Thailand. It's a two-year old single-story pad with 3 bedrooms, two bathrooms, and a small, low-maintenance garden. There's so much space compared to what I'm used to. Heck, I'll probably have a brief spell of agoraphobia until I adjust lol ????

 

Stubby

 

Let me guess..million five in San Sai?  

4 hours ago, Stubby said:

Condos still seem expensive, especially the modern 1 bed joints that average around 10,000 THB

Wow, certainly who can afford that?

I think Stubby is renting, not buying in San Sai, or anywhere.  Many houses similar to what Stubby describes in San Sai renting at 6-10K baht per month.

14 hours ago, bkk6060 said:

Wow, certainly who can afford that?

Many of them are modern and well-equipped. It's the 32-35 SQM size that makes them expensive.

11 hours ago, chingmai331 said:

I think Stubby is renting, not buying in San Sai, or anywhere.  Many houses similar to what Stubby describes in San Sai renting at 6-10K baht per month.

Not San Sai, Chingmai331, I'm staying in the Hang Dong area. I'm paying more than 10K ????