Security Deposit

[Dave Hounddriver]

2 hours ago, jimeve said:

There's an American interested in renting for one month, just msg me on FB. he's flying out next month.

When I first came to the Philippines I stayed in a place that was run by an American and advertised as month to month rental.  I would have been shocked at any sizeable security deposit in that situation.  It was more of a hotel or AirBnB type of arrangement.  Perhaps a small deposit would have been acceptable.

However, as soon as I moved into a "normal" rental it was advertised as a one year lease and they were insistent on a security deposit.

[intrepid]

1 hour ago, jimeve said:

Should have given it back to you when finished checking the property. Where the owners locals?

We were hoping for right away but the contract stated within 60 days they would return the deposit.  No they are not locals living hours away on the other side of Manila.  According to their agent we used they own many homes in several subdivisions around the area.  The house we rented was their private vacation home when they were younger.  The owners have health issues and in the 80's.  The son and daughter try to manage the properties but along with other business I think is too much for them.  They only let the agent find renters but should allow her to do complete management.  Anyway, it won't happen again for us.

[graham59]

'Locals' normally means FILIPINOS. 

It is perfectly normal in this country to ask for 2 months advance rent, plus a month's rent as security deposit.

I have rented several apartments and houses here, down the years, and this has always been the arrangement.

Of course it's sensible to ask for a security deposit, in ANY country. You're giving your possessions over to total strangers. 

If the potential tenant is not willing or able to meet these terms, then you are probably better to pass over them. IMHO. 

[BC57]

7 hours 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 ask and get a security deposit. It wouldn't take long for your stuff to disappear. I would also put in CCTV outside since you have a rental. If she has transportation get the plate number, etc.... CYA, good luck.

[jimeve]

Thanks everyone for the advise, and confirming what I wanted to hear about a security deposit. 

[earthdome]

I have been asked to give a 2k peso security deposit on a 4 night AirBnB rental in Manila. I have a condo in the US that I now list on AirBnB and VRBO. I require a $500 deposit which is held by the listing agent (AirBnB or VRBO).