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Top Contractual Clauses When Letting Your Bangkok Property

Top Contractual Clauses When Letting Your Bangkok Property

Retainer/Deposit

The most powerful way of ensuring that a property is returned in the same condition as it was let is the deposit.

 

Every property owner has their own variables but the standard time-amount for a deposit is between one and three months, with three being the usual when renting expensive properties.

 

By expensive we usually mean in the range of 60000 Baht and up each month. The renter needs to ascertain how much could be damaged by the renter including furniture and equipment?

 

In short the estimate that needs to be made is how much damage could be left leaving the owner exposed to costs?

 

The golden rule is to always make a full inspection before returning the property deposit. As long as the leaseholder is aware of this beforehand no problems will ensue.

 

Duration of Lease

It’s vital that the lease contract has at least a minimum term of renting. Any premature breaking of the contract can trigger a clause whereby the Bangkok property holder can hold on to part or whole of the deposit.

 

A minimum of one year is normal for most properties, however for lower priced and cheaper properties, it’s standard to enact a minimum term of six, three or as low as one month minimum.

 

Property renters who require shorter term minimum contracts are generally more flexible than longer term tenants and will be used to jumping from one inexpensive letting to another.

 

Ultimately it is the property owner here in Bangkok who determines and has the final say, as they know their own requirements to rent the property especially how quickly it is needed to be filled.

 

Breakages Wear & Tear

It’s normal for your Bangkok property to be subjected to breakages and wear and tear.

 

The property owner should be fair in the way they treat the renter so that items like unclean windows, dirty tiles or tile grout, frayed carpets and fading curtains are normal wear and tear issues.

 

That doesn’t mean a large stain on a new carpet that was installed before the tenant moved in is acceptable. Before getting the tenants signature make sure the ground rules are clearly understood by all parties.

 

Think about the relationship in terms of mutual respect and understanding from both parties and you will be fine.

 

Extra on Electrics and Water

It’s totally standard to charge extra for electric and water in Bangkok and indeed Thailand. Water rates are very inexpensive in Bangkok and beyond.

 

If water is included in the rental price, there is a tendency, for a person letting the property to be reckless with their usage.

 

Most owners avoid including water and electric in the rent specifically because the air conditioning costs can be punitive if the tenant leaves them running on full blast every day all week.

 

One method to avoid too much pain is to allow a number of electric units per month. Anything over the set allowance gets charged for exorbitantly.

 

This method is preferred by owners of Thai villa rentals who lease their properties for days and weeks not months and years.

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