New lease agreement

Ask us anything. Cambodia Expat's Online has a huge community of long term expats that can answer any question you may have about life in Cambodia. Have some questions you want to ask before you move to Cambodia? Ask them here. Our community can also answer any questions you have about how to find a job or what kind of work is available for expats in Cambodia, whether you're looking for info about Phnom Penh, Siem Reap or anywhere else in the Kingdom. Don't be shy, ask CEO's members anything!
andy1
Expatriate
Posts: 214
Joined: Sat Jan 30, 2016 8:33 am
Reputation: 33
Korea North

New lease agreement

Post by andy1 » Sat Mar 09, 2019 7:57 am

This is on a new build shop house in rural Cambodia,lease for 4 years,rent seems reasonable per month,but he wants 1year up front as deposit is this normal ?
User avatar
Kammekor
Expatriate
Posts: 1063
Joined: Fri Sep 01, 2017 12:50 pm
Reputation: 279
Cambodia

Re: New lease agreement

Post by Kammekor » Sat Mar 09, 2019 8:26 am

andy1 wrote:
Sat Mar 09, 2019 7:57 am
This is on a new build shop house in rural Cambodia,lease for 4 years,rent seems reasonable per month,but he wants 1year up front as deposit is this normal ?
No, never experienced that.
Doc67
Expatriate
Posts: 83
Joined: Thu Nov 16, 2017 9:16 am
Reputation: 19
Location: here
Contact:
Great Britain

Re: New lease agreement

Post by Doc67 » Sat Mar 09, 2019 8:43 am

That seems high as an initial payment.

What is the plan for year two, another year up front or on a month to month basis? If it's on a month to month basis this would leave the landlord without any security deposit which most would not permit and it sounds unlikely your landlord would be happy with that arrangement given their demand for a full year in advance. You should make sure there is a clear understanding on this point to avoid a nasty surprise later.

I suppose it all depends on how much money we are talking about; you might consider it is worth a punt.

I heard that you can register the lease at the Sangkat with you and the landlord both present to thumbprint the lease. This might give some protection should the landlord sell the property and keep quite about your status as a paid-in-full tenant. To be clear, this is what I have heard, I do not know for sure so you might want to post another specific request for information on this aspect.

Good luck
User avatar
Duncan
Sir Duncan
Posts: 5661
Joined: Tue Jun 03, 2014 8:22 pm
Reputation: 970
Location: Wonder Why Central

Re: New lease agreement

Post by Duncan » Sat Mar 09, 2019 9:14 am

andy1 wrote:
Sat Mar 09, 2019 7:57 am
This is on a new build shop house in rural Cambodia,lease for 4 years,rent seems reasonable per month,but he wants 1year up front as deposit is this normal ?
Dont rush in, let him sweat on the deal as there are heaps of properties available for rent. I bet he will make contact with you before you make contact with him, and he will be offering you a even better deal.

If time is on your side, you are already winning.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
User avatar
frank lee bent
Expatriate
Posts: 10395
Joined: Sat May 17, 2014 4:10 am
Reputation: 1390
Australia

Re: New lease agreement

Post by frank lee bent » Sat Mar 09, 2019 9:18 am

i paid 7 months up front. landlord sold to a cop a month later who turfed my ass out, try and fight that.
Jerry Atrick
Expatriate
Posts: 951
Joined: Sat May 17, 2014 4:19 pm
Reputation: 163
Central African Republic

Re: New lease agreement

Post by Jerry Atrick » Sat Mar 09, 2019 9:20 am

One month per calendar year is not unreasonable. But I've always negotiated a few months off longer leases here.

A year up front = alarm bells.
User avatar
phuketrichard
Expatriate
Posts: 8284
Joined: Wed May 14, 2014 5:17 pm
Reputation: 1194
Location: the far side of the moon
Aruba

Re: New lease agreement

Post by phuketrichard » Sat Mar 09, 2019 9:40 am

I'd never pay 1 year up front for anything>( except car insurance which you can not pay monthly)
to much can happen
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
offroadscholar
Expatriate
Posts: 181
Joined: Sun Jul 23, 2017 1:55 pm
Reputation: 39
Australia

Re: New lease agreement

Post by offroadscholar » Sat Mar 09, 2019 9:43 am

one year up front on a new build in rural Cambodia...?

Sounds like the landlord is skint, perhaps after paying for the new build.
User avatar
RickyBobby
Expatriate
Posts: 535
Joined: Wed Nov 14, 2018 12:44 pm
Reputation: 159
Cambodia

Re: New lease agreement

Post by RickyBobby » Sat Mar 09, 2019 10:19 am

I have only ever paid one month deposit, which is like first and last, the norm where I come from too.
"Dear Lord Baby Jesus, Lyin in a Manger"
Barang_doa_slae
The Dark Horse
Posts: 1286
Joined: Sun May 25, 2014 1:12 pm
Reputation: 70
Cambodia

Re: New lease agreement

Post by Barang_doa_slae » Sat Mar 09, 2019 10:45 am

I never understood the 1 month per contract year unofficial rule.
As landlords we ask for three months deposit, whatever the contract length.
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Ifrenchkiss, lurcio, TOG and 134 guests