Getting Prepared To Sign My 1St Rental Contract In Cebu City!

[russellmania]

What tips do you guys use to sign a good one year rental contract? The owner lives in the same compound and Im to pay him directly, which was told to me by the real estate agent.#1 I think is about the security deposit at the end of my lease, how is it returned to me.

[Thomas]

#1 I think is about the security deposit at the end of my lease, how is it returned to me.

Often it ISN'T, because the landlord have used it up   :mocking:

Some "get it back" by not paying any rent close to the end of the contract.

[Dave Hounddriver]

You might get the security deposit back.  I have got mine back at least half the time but there is not much left after the landlord deducts what he thinks is fair.  You don't get a say in that.  So I usually don't pay the final electric and water bill and tell the landlord to deduct it from my security deposit.  I use about 5,000 a month electric and water and have never rented a place for more than 10K a month so it works out ok.

 

An acquaintance of mine was bragging that he paid the whole year's lease in advance and got a 15% discount for doing that.  Then the rest of the year he complained that he would have broke the lease and left if he knew what an arse the landlord was, but he had already paid for the year.  So its up to you what you want to do.

[russellmania]

You might get the security deposit back.  I have got mine back at least half the time but there is not much left after the landlord deducts what he thinks is fair.  You don't get a say in that.  So I usually don't pay the final electric and water bill and tell the landlord to deduct it from my security deposit.  I use about 5,000 a month electric and water and have never rented a place for more than 10K a month so it works out ok.

 

An acquaintance of mine was bragging that he paid the whole year's lease in advance and got a 15% discount for doing that.  Then the rest of the year he complained that he would have broke the lease and left if he knew what an arse the landlord was, but he had already paid for the year.  So its up to you what you want to do.

Is it customary to get the locks changed when a tenant first moves in? Or the landlord must have a entry key to the property?

[Dave Hounddriver]

Is it customary to get the locks changed when a tenant first moves in? Or the landlord must have a entry key to the property?

 

I never thought about it or worried about it until you just mentioned it.  The landlord is not going to change the locks so it is up to you.  The landlord is not likely to go in your house but will often come on the grounds with any excuse from cutting the grass to picking the fruit.  So he will want a key to your gate if you have one.

 

Just a couple of tips.  Never leave an unlocked lock hanging on your gate.  Someone will steal it for the scrap metal.  Never leave your keys within reach of a window as thieves often break a window to reach in and grab the keys. Bring your own light bulbs because the previous tenants probably took theirs with them and the landlord does not provide them (unless the place is furnished then he might).

[Mike S]

The landlord is not likely to go in your house

 

I would be more afraid of past tenants if the locks have not been changed than the landlord ..... we were the first to occupy the townhouse we now live in so we didn't change the locks but in all the other places (3) we bought our own lock/dead bolt and just put the old locks on after we left .... one landlord saw the nice heavy duty locks we installed and wanted us to leave them when we left but he didn't get his wish :hystery:

:cheersty:

[Jollygoodfellow]

What tips do you guys use to sign a good one year rental contract?

 

My first thought is use a pen.  :hystery:  Sorry  :)

[chris49]

What tips do you guys use to sign a good one year rental contract? The owner lives in the same compound and Im to pay him directly, which was told to me by the real estate agent.#1 I think is about the security deposit at the end of my lease, how is it returned to me.

You sign a one year lease. You pay a one month security deposit and 2 months rent. There are all kinds of clauses in there, but customarily if you are vacating at the end of contract, you notify the owner 2 months in advance and you do not pay the last 2 months rent.

In almost all cases you are not going to receive back the security deposit, so as Dave has indicated you don't pay the final electric and water bill. There's a clause in there abut returning the property in original condition, this might even require painting or touch up. It might be hard to comply with so unless you had built an excellent relationship with the owner, you might not get anything back.

There's a caveat in that if you want to stay and you have this good relationship with the owner, he will probably let you stay month to month without renewing the lease.

Edited September 12, 2015 by chris49

[earthdome]

I have only had 2 rentals but in both cases I received back my deposit minus things like the final electric/water bill. The first time I was moving a few hours away and made arrangements for the landlord to deposit my returned deposit into my bank account. Which they did. Perhaps I am just lucky having had good honest landlords for my first 2 rentals. First rental was in San Fernando, La Union on Luzon second rental was in Baguio. I also am not the type of renter who constantly bothers the landlord.

[Gratefuled]

I rented my first and only apartment for 1 year when I was engaged to my wife. She had her own home a good distance from my apartment.

My apartment was conveniently close to the mall, walking distance. It had everything I needed from a/c to security guard. Only 15,000 pesos a month. I paid the customary month, last month and security deposit.  When I left, she deducted the water and electric bill then notified me when it was final. I never had to use any post dated checks.  She knew my wife and her family. I was lucky to end my years lease when I did because termites were present and beginning to fly around. I think they all hatched at the same time. They headed straight for my lights. If you ever experienced this, you will know how frustrating it is to try to spray and kill them only to have more  come around again.

I might add that this is where my brand new Schwinn mountain bicycle was stolen. It cost 15,000 pesos and I really enjoyed it for 3 months. I learned a good lesson from that.