jimeve Posted January 3, 2020 Posted January 3, 2020 Just need some advice on renting out a fully furnished house. I had Filipina viewing my guest house she liked it and wanted to rent it for one month but didn't want to pay the security deposit of one month which she would have got back a full refund if no damage was done. There is a lot of expensive stuff in there ie smart tv, and brand new aircon in both rooms and more. Am I wrong to ask for a security deposit? 1 Link to comment Share on other sites More sharing options...
Popular Post gery0x Posted January 3, 2020 Popular Post Posted January 3, 2020 (edited) You're absolutely not wrong to ask for the deposit!! What if the TV, the aircon AND the renting Filipina are gone one day?! Looks to me like she doesn't have the cash for the deposit, as it's common practice to pay some fee upfront (usually 3 monthly rents). Edited January 3, 2020 by gery0x 5 1 Link to comment Share on other sites More sharing options...
Forum Support Tommy T. Posted January 3, 2020 Forum Support Posted January 3, 2020 (edited) 20 minutes ago, jimeve said: Just need some advice on renting out a fully furnished house. I had Filipina viewing my guest house she liked it and wanted to rent it for one month but didn't want to pay the security deposit of one month which she would have got back a full refund if no damage was done. There is a lot of expensive stuff in there ie smart tv, and brand new aircon in both rooms and more. Am I wrong to ask for a security deposit? You should definitely ask for and receive a security deposit. And you should get copies of ID's too. There are many cheapskates here that L has had to deal with in her apartments that she rents out. They don't have down payment... or not until next week and so on and so forth... There have been some instances where the damage done exceeded the deposit... Please be careful! You are better off not renting than renting to someone who will trash the place or not pay or become a hassle in any way... Also, have an attorney assist you to draw up or alter a boiler plate rental agreement, make sure the renter reads it and signs it - including initialing each item that is really important, like no smoking, no noise, no pets, proper rubbish disposal... Consider to also take photos of the place showing the items you mentioned to document that they were there when somebody moved in and that they were in good condition... Edited January 3, 2020 by Tommy T. 4 1 Link to comment Share on other sites More sharing options...
Marvin Boggs Posted January 3, 2020 Posted January 3, 2020 We deal with security deposits on business leases, and find filipinos have a different view of the deposit than we are used to. Normally they will expect it to be 'consumable', i.e. they will just skip the last payment of the term expecting us to keep the deposit. Explaining that it is used to cover damage is not easy. Maybe they see it as a way to be cheated. You could try not calling it a 'deposit'. Maybe quote a price of X for the monthly rate, with x/2 refund for no damage. 4 Link to comment Share on other sites More sharing options...
BrettGC Posted January 3, 2020 Posted January 3, 2020 Short term rentals such as a month or less it's not normally done but if it makes you feel more comfortable go for it. Having said that it is normal to take a credit card reading (probably not practical in this instance) to cover an damage/loss. You have to remember the short and long term markets operate very differently. Based on your description of the situation I'd insist on a deposit of some sort. If she can't produce it she doesn't rent. 1 1 Link to comment Share on other sites More sharing options...
Popular Post graham59 Posted January 3, 2020 Popular Post Posted January 3, 2020 Sorry, but I would not even CONSIDER renting out my property to a 'local'. Not worth the hassle and 'heartbreak' , if you don't need the cash. Actually, if I needed the cash... probably even LESS likely to do it ! lol 5 1 Link to comment Share on other sites More sharing options...
Forum Support Tommy T. Posted January 3, 2020 Forum Support Posted January 3, 2020 An add on thought, Jim... In USA I rented out a yacht at one point. It was dashed onto rocks due to inattention of the renter. The same renter left cigarette burns on the "no smoking" vessel, and over filled the diesel tanks over the lovely teak decking. I rented out our house in USA several years later... Some people treated it with care, others trashed it. So the lesson I learned is to not even rent out a place if it has special meaning to you or you consider to return to live in it or use it. Renters everywhere seem to not take the same care of things as you or I or most owners will... Yes, that is a generalization, but that has been my observation, not only with my possessions but with others' too... Again... Be careful... 2 3 Link to comment Share on other sites More sharing options...
jimeve Posted January 3, 2020 Author Posted January 3, 2020 3 minutes ago, Tommy T. said: An add on thought, Jim... In USA I rented out a yacht at one point. It was dashed onto rocks due to inattention of the renter. The same renter left cigarette burns on the "no smoking" vessel, and over filled the diesel tanks over the lovely teak decking. I rented out our house in USA several years later... Some people treated it with care, others trashed it. So the lesson I learned is to not even rent out a place if it has special meaning to you or you consider to return to live in it or use it. Renters everywhere seem to not take the same care of things as you or I or most owners will... Yes, that is a generalization, but that has been my observation, not only with my possessions but with others' too... Again... Be careful... Last renter I had moved out 3 months ago, He was in for 16 months, always paid on time, no problems with him paying a deposit, which he got back. Foreigner btw. 4 Link to comment Share on other sites More sharing options...
gery0x Posted January 3, 2020 Posted January 3, 2020 Just now, jimeve said: no problems with him paying a deposit, which he got back. Foreigner btw. No strings attached... 1 Link to comment Share on other sites More sharing options...
Forum Support Tommy T. Posted January 3, 2020 Forum Support Posted January 3, 2020 1 minute ago, jimeve said: Last renter I had moved out 3 months ago, He was in for 16 months, always paid on time, no problems with him paying a deposit, which he got back. Foreigner btw. That's way cool... L has a renter who has been there for a few years - always pays her rent ahead of time. She reports anything that seems amiss regarding noise, leaks...anything. There are some real gems out there. She had two renters who she moved out a few months ago. Apparently they did not know how to clean toilets or to keep the place clean. Hmmm... they also seemed to never be able to pay their rent on time or pay their water or electric bills on time. They also smoked in the "no smoking" apartments and were too cheap to pay 15 pesos per small garbage bag to be picked up and just tossed it over the fence... Both of them just ran out their rent advance and left the deposit. L took a loss on one (broken door hardware, damage to walls) and broke even on the other. So there's the good, the bad and the ugly... 1 2 Link to comment Share on other sites More sharing options...
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