New lease agreement
New lease agreement
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 ?
Re: New lease agreement
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
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
- Duncan
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Re: New lease agreement
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.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
- frank lee bent
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Re: New lease agreement
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
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Re: New lease agreement
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.
A year up front = alarm bells.
- phuketrichard
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Re: New lease agreement
I'd never pay 1 year up front for anything>( except car insurance which you can not pay monthly)
to much can happen
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
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Re: New lease agreement
one year up front on a new build in rural Cambodia...?
Sounds like the landlord is skint, perhaps after paying for the new build.
Sounds like the landlord is skint, perhaps after paying for the new build.
- RickyBobby
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Re: New lease agreement
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"
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- The Dark Horse
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Re: New lease agreement
I never understood the 1 month per contract year unofficial rule.
As landlords we ask for three months deposit, whatever the contract length.
As landlords we ask for three months deposit, whatever the contract length.
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