rent condo deposit question

[hadock]

Hello,

 

I found a condo which I like to rent. The owner of the condo is a foreigner and is not living in Thailand. 

So I am a bit worried about what will happen to my deposit (two month rent) in case I move out after the rental contract ends ( after 1 year). If the owner, for whatever reason, decides to keep the deposit I think I do not have any legal ways to get back my money as the owner lives far away in another country.

 

I talked with the agent about my worries, and she said this is a standard agreement and no need to worry. 

She offered me another solution. The real estate agent (thai nationality) will act as representative with full authority of the owner. Meaning the agent is named in the contract, and i pay monthly rent and 2 month deposit to the bank account of the agent.

 

Not sure which solution is better. Any thoughts from some members here?

 

Thank you

[BritManToo]

14 minutes ago, hadock said:

Any thoughts from some members here?

1 month deposit or you walk.

Make sure you tell the agent, you won't be using them if this '1 month' deal doesn't work.

[OneMoreFarang]

Does it make a difference from whom do you rent it?

According to posts in this forum some people get their deposit back and others not, almost independent if there is any damage or not. If the owner, even if he is Thai and living next door, refuses to gives you the deposit back, what will you do? Hire a lawyer and fight about it? Maybe for years?

[scubascuba3]

Agree with above, pay 1 month deposit only, then it doesn't matter who you give it to, no reason you can trust agent more than owner

[jastheace]

i've rented 7 properties around thailand, got my deposit back once, and made to feel real awkward about it. however, with 2 months deposit i've always got away with not paying the last months rent, thus only losing 1 months money. no biggy, since i've never rented for less than a year... just factored it into the deal....

 

[BangkokAlan]

I spend 50% of my time out of Thailand and rent apartments to foreigners and have never refused a deposit back. I ensure my apartments are immaculately clean and in good order in terms of decoration and repair as good landlords don't want continual calls about broken things. I also only  use good reputable agents who attract good tenants and good landlords.  Using local freelance agents is where the issue could arise with getting deposits back as hey have no weight with landlords.

 

Ask the agent how the apartment will be maintained while the landlord is out of town and what are the timescales for fixing things. If they cant answer walk away.

 

Agree in your contract that you get the deposit back on the day of contract ending and when you vacate the premises excluding a small fee to cover utilities but try and read the meters and get it all back on the day some landlords/agents may try to put in contract 1 month after hand back I suggest you challenge this.

 

Make sure you take photos of everything in the apartment to show any marks on paintwork, broken or damaged items so you wont be held accountable to pay for repairs or replacement.  Ask them to replace or remove damaged items before handover.  

 

If you rent a good apartment from a reputable agent you wont have a problem. 

 

 

 

[OneMoreFarang]

I wonder if there is anybody here in the forum who really knows what would be necessary to get the money back if the landlord refuses to pay.

Let's say the property is in perfect conditions, all bills are paid, no problems at all. But the landlord doesn't give the deposit back.

Let's say monthly rent was 20k and deposit was 40k.

What would be legally possible and how long would it take?

If a lawyer would charge i.e. 30k and if it would take a year, who would want to do that?

Maybe someone here knows the details of the cost and how long it takes.

[BritManToo]

39 minutes ago, OneMoreFarang said:

I wonder if there is anybody here in the forum who really knows what would be necessary to get the money back if the landlord refuses to pay.

Let's say the property is in perfect conditions, all bills are paid, no problems at all. But the landlord doesn't give the deposit back.

Let's say monthly rent was 20k and deposit was 40k.

What would be legally possible and how long would it take?

If a lawyer would charge i.e. 30k and if it would take a year, who would want to do that?

Maybe someone here knows the details of the cost and how long it takes.

Not worth wasting my time for 1 month rent.

I once lost 6k on a house rental where they didn't want to hand the deposit back, no big deal.

[OneMoreFarang]

10 hours ago, BritManToo said:

Not worth wasting my time for 1 month rent.

I once lost 6k on a house rental where they didn't want to hand the deposit back, no big deal.

There are some people out there who pay a lot more than 6k per month. Would you walk away from 60k? 

[BritManToo]

Just now, OneMoreFarang said:

There are some people out there who pay a lot more than 6k per month. Would you walk away from 60k? 

Obviously, I wouldn't pay a 60kbht deposit in the first place.