Rental Security Deposits

[dalidali]

I am about to pony up 2 months equivalent monthly rent, as a "security deposit" on a subdivision house.

This is being handled by the novia on the ground in Cebu.

 

I do understand that is a common practice and do not have any major objections.

What concerns me, is getting that money back, once I hand it over to the owner.

 

Staying positive is my goal, yet I am realistic about this.

Once you hand over cash money to someone, with the agreement that money is to be given back, may be fraught with pitfalls.....namely it's long gone when it's time for the owner to hand it back.

 

My question would be.....is a hand written or typed, NON notarized rental contract enforceable, with language that states clearly......the deposit money will be returned?

It's also my understanding that any damage or missing items or unpaid utility bills can be deducted from this deposit.....no problem with that.

 

What remedies would I have to get back any deposit money if the owner refuses, or is unable, for any reason to hand it back?

Legal court action?....

 

Not that it makes any difference........this owner is a Filipina.

[brock]

Dont pay the last 2 months rent

[Markham]

My question would be.....is a hand written or typed, NON notarized rental contract enforceable, with language that states clearly......the deposit money will be returned?

 

Do not rent a property unless there is a properly prepared and legal contract between you and the owner. Once both parties have signed multiple copies, it is the owner's responsibility to have all copies notarised and one handed to you.

[Papa Carl]

Lost mine too many times to remember now here in the Philippines. So the real question, is the amount you are paying more or less than the amount it will cost you for legal action to recover this money?

 

I would follow Brocks advice.

 

 

Papa Carl

[dalidali]

Dont pay the last 2 months rent

Sounds good to me........but how would one withhold the last two months of rental if the rent is paid in advance?

On move out day.....the rent has been paid up to that day.....where does the other two months come in?

[sjp52]

you need to know when your moving and plan accordingly. So say you have been renting for 4 months already and you plan on leaving at the end of 6 months, Just dont pay for month 5 and 6. If  at the last minute you decide to leave, you are at the mercy of the landlord ( 50 / 50 ).

Edited June 27, 2013 by sjp52

[dalidali]

you need to know when your moving and plan accordingly. So say you have been renting for 4 months already and you plan on leaving at the end of 6 months, Just dont pay for month 5 and 6. If  at the last minute you decide to leave, you are at the mercy of the landlord ( 50 / 50 ).

Ok.....is it an accepted way of doing business with a house owner to be late in paying the rent for two months?

[robert k]

 

you need to know when your moving and plan accordingly. So say you have been renting for 4 months already and you plan on leaving at the end of 6 months, Just dont pay for month 5 and 6. If  at the last minute you decide to leave, you are at the mercy of the landlord ( 50 / 50 ).

Ok.....is it an accepted way of doing business with a house owner to be late in paying the rent for two months?

 

I think it's a matter of which foot the shoe is on. You give them two months rent as deposit and when you leave you depend on them to give it back, maybe if it still exists. On the other hand, how long will it take them to evict you, and if you have your say, that they already have two months worth of rent as deposit and you haven't wrecked the place, they probably wouldn't be happy but are they really going to waste someones time with the facts just stated? I would not leave a mess or stay one day extra though.

[MikeB]

What remedies would I have to get back any deposit money if the owner refuses, or is unable, for any reason to hand it back? Legal court action?

I don't think you would have much recourse unless you want to start filing cases and waiting months, possibly years. Keep in mind the owner probably has contacts on the barangay council that you don't. You're getting some advice here about just staying and "consuming" the security deposit. Unless the lease specifies that you are breaking it. The security deposit is typically returned after you have moved and the owner evaluates the property and all the utilities, which are probably in her name, are paid. I have not had to pay a 2 month deposit yet but if it's a fully furnished house I don't think it's unreasonable. I would ask if you could pay just 1 month to minimize your exposure. Talk to other tenants about the landlord to get a feel for the situation. If you're not comfortable keep looking.

[earthdome]

Typically there is a deposit and advance rent. If your lease is for 12 months then you only have to pay 12 months rent. The deposit gets returned after you have moved out and all potential bills and damages are resolved.

 

I have had one rental complete so far and had no problem getting the remainder of the deposit back once the balance on electric was paid. I was even able to get it direct deposited into my BPI account.

 

Getting your deposit back is a concern, but how many members have had a problem getting their deposit back?