Typical deposit for apartment rental agreement

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downloaderror
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Typical deposit for apartment rental agreement

Post by downloaderror » Fri May 24, 2019 1:43 pm

Quick question... What is the typical deposit required for a one year apartment lease agreement. I recently looked at an apartment in toul kork area and we agreed on a monthly rental price. When it came time to sign the lease they asked me for 4 months up front - 3 months deposit and 1st month I advance. I said this isn't typical, I have been in Cambodia 2 years already and I have never seen that. Usually oneomth deposit and one month in advance. They said its what people are doing now and they wouldn't budge on it. I have heard stories from my friends about not getting deposits back after the lease is up so I thought this was a little dodgy to ask for 3 months deposit.

Is this the standard now in pp? Anybody else experience this? Will feel more comfortable with it if other people have done this also.
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fax
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Re: Typical deposit for apartment rental agreement

Post by fax » Fri May 24, 2019 2:10 pm

I have never heard anything like it. It is not standard. Tell them by walking away. It only becomes standard of you agree.
downloaderror
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Re: Typical deposit for apartment rental agreement

Post by downloaderror » Fri May 24, 2019 2:47 pm

Yeah I thought it was quite strange too. And I'm guessing there's probably not too much legal help I would be able to get either if they decided to withold all or part of my deposit later on. I said if they couldnt agree to the standard one month deposit and first month in advance I would have to pass.
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fax
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Re: Typical deposit for apartment rental agreement

Post by fax » Fri May 24, 2019 2:49 pm

Landlords never pay the deposit back. That's why people use it for the last months rent.
canucklhead
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Re: Typical deposit for apartment rental agreement

Post by canucklhead » Fri May 24, 2019 3:37 pm

A rule of thumb I always used when renting was: 1 month per year of the lease. Prepaying months in advance is ok.
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IraHayes
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Re: Typical deposit for apartment rental agreement

Post by IraHayes » Fri May 24, 2019 4:38 pm

fax wrote:
Fri May 24, 2019 2:49 pm
Landlords never pay the deposit back. That's why people use it for the last months rent.
This ^
Every time this. The only thing you will pay for then, as you leave, is the last bit of water and electricity.
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markd
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Re: Typical deposit for apartment rental agreement

Post by markd » Fri May 24, 2019 8:04 pm

ive never been able to use the deposit as last months rent unless its been stipulated that i pay a deposit, first & last month rent

ive never got a deposit back & in the los its the 2nd most common scam after the marriage scam :evil5:
thru shit to more shit
explorer
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Re: Typical deposit for apartment rental agreement

Post by explorer » Fri May 24, 2019 9:33 pm

Has anyone ever got their deposit back?
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PSD-Kiwi
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Re: Typical deposit for apartment rental agreement

Post by PSD-Kiwi » Fri May 24, 2019 9:49 pm

Yep, first apartment I lived in accidentally paid the last months rent, had given the landlord 3 months notice, he gave me back my deposit no questions asked.

The other apartments I left, I just used the deposit to cover last months rent, landlords had no problem with it as it is common practice here.
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Re: Typical deposit for apartment rental agreement

Post by Pedroviera » Sun May 26, 2019 10:03 am

downloaderror wrote:
Fri May 24, 2019 1:43 pm
Quick question... What is the typical deposit required for a one year apartment lease agreement. I recently looked at an apartment in toul kork area and we agreed on a monthly rental price. When it came time to sign the lease they asked me for 4 months up front - 3 months deposit and 1st month I advance. I said this isn't typical, I have been in Cambodia 2 years already and I have never seen that. Usually oneomth deposit and one month in advance. They said its what people are doing now and they wouldn't budge on it. I have heard stories from my friends about not getting deposits back after the lease is up so I thought this was a little dodgy to ask for 3 months deposit.

Is this the standard now in pp? Anybody else experience this? Will feel more comfortable with it if other people have done this also.
I've negotiated rents all over Asia, including Cambodia . Two favorite ways are two or 3 months months in advance no deposit. Even if owner try longer lease/deposit offer this. Plus they tend to be a little better fixing stuff during the contract if it's shorter hoping you stay again. Make sure you have money in hand to make the deal when offering it . For some seeing the cash in hand makes them aggreable.... I've also offered small nonrefundable deposit 50-75 bucks instead. Some crook owners very happy smaller cash in hand unrefundable. They like this idea. "foreigner no smart no give money back"... And keeps me from getting drilled a full month at the end
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