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Getting your Bond back at end of lease ?


Toohp

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I've read some reports  the Landlords handing back the Bond at end of a lease can take up to or is 90 days after vacating is this true ?

I've also read its common for  expats just to forfeit it too .

I'm just curious as hopefully my next visit will be a extended one for months or years .

Can you do a deal for it to be returned sooner ?

Is it expected to loose it even thou you left the premises in good condition ?

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Always (5 times?) got the deposit back when I handed back the keys (or a couple of days later).

For this, I paid all utility bills and showed the proof, cleaned the premises with a broom, pointed out any damage already when it happened and stayed as agreed in the contract (informed the owner usually 1-2 month before I was moving out).

The reason that the deposit is hold longer can be only to wait for the next utility bill, if there is no way to take a reading from the meter.

Some renters will sign a contract for one year so they pay less than for a monthly lease. Then the leave after 2 month and complain they won't get the deposit back. 

Of course, there are always some black sheep who will take advantage of the fact that some renters will have a flight to catch and be unavailable on the last day and these stories you will hear. Agree on the handling of the deposit beforehand and put it into the lease contract. Take pictures of the rooms when moving in can help. Put any damages together with the inventory list in the contract. 

 

Edited by CampariO
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This is one thing that I don’t know which side to believe. If I listen to all the bad experiences online, I’d be inclined to say whether you stay 6 months or ten years, an extra 2 months rent is part of the cost, you’ll never get it back. My only real experience with this is back in 2010, I sub-letted a nice highrise studio in Chiang Mai from a fellow Canuck who had to rush back for a lawyer job.  Long story short, he made me advance him what he would have received back, and the morning I left 3-4 months later, I just collected the full amount from the security guy at the desk…..no phone call, no room check. 
 

But no matter what your experience has been, it’s a fact that landlords are not that quick to return deposits. What I know for sure, in this environment where it’s a renter’s market, 3 months upfront is a definite no-go, especially when the law says they can’t ask for more than ONE month deposit. Anyone being asked for 2 months deposit should look elsewhere

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15 minutes ago, Golfingboy said:

 What I know for sure, in this environment where it’s a renter’s market, 3 months upfront is a definite no-go, especially when the law says they can’t ask for more than ONE month deposit. Anyone being asked for 2 months deposit should look elsewhere

The max one month deposit applies only for owners renting out more than 5 properties. The reason for this, so I believe, is that such kind of owners or companies have the better means to get any money out of the renter if he fails to pay or leaves the premises trashed.

Especially with these low rents nowadays, even a 2 month deposit is hardly covering the price of a TV. 

Edited by CampariO
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I only leased one time after moving here, while deciding whether Rayong was where we wanted to move to.  It was, so we bought a place.  I got the deposit back immediately after the owner's agent inspected the property.

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  • 2 weeks later...

Many stories of both ways - 'all good' and 'no good'.  My advice is to only agree to 1 months 'bond' if you can. When you are using an agent (not really agents in Thailand) they are usually paid whatever your first 2 months rental will be, so it is them that often will try to get 2 or 3 months deposit.  But whatever you do, do not tell the agent/owner that you are renting for a while then going back to another country. Tell them all that you are looking to stay long term, but after a year or two you might buy a property. When leaving give more than the required notice and say you are moving to another city or have bought a place. As already said, the deposit is for you not paying the utilities bill (electricity, water) after leaving, as well as any damage. Suggest at end you try to agree to an amount your bills will be after you leave (give past ones to show amounts) and offer to deduct that from the deposit refund - plus let them fully inspect the place for damage well before you leave - that worked for us both times.

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