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TOPIC: Rental Deposit
#17427
W T (General User)
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Rental Deposit 1 Year, 10 Months ago Karma: 0  
How much deposit do you collect when renting out your house? What other deposit are required?
 
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#17434
Raymond Chu (General User)
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Re:Rental Deposit 1 Year, 10 Months ago Karma: 5  
The items for deposit will be the utility deposit and the security deposit at one month each.
Also, the first month rental will usually be collected on the day the tenant moved in on that month.
 
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#17443
W T (General User)
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Re:Rental Deposit 1 Year, 10 Months ago Karma: 0  
That is to say.

2 months rental as security and utilities deposit.

Plus 1 month upfront of rental.

Is that correct?

Read the guide on this website, they mentioned 3.5mth rental as security and utilities desposit. Is that the standard or is it too much?
 
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#17445
Raymond Chu (General User)
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Re:Rental Deposit 1 Year, 10 Months ago Karma: 5  
May I know what is the decimal number representing. Maybe some high end properties, I guess, where there are other fees & maintenances etc.
 
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#17565
Ivan Butt (Negotiator)
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Re:Rental Deposit 1 Year, 9 Months ago Karma: 0  
I also have the same question in mind.

I understand from my mentor that when collecting rental, we must collect Earnest deposit = usually 1 month's rental.

We also need to collect:
1. 2 months security deposit
2. Utility deposit (water, electricity, indah water etc)
3. Stamping fee
4. Other deposit/payments

There is also 5% GST for the 1 month rental, collect from owner (Earnest deposit x 5% GST)

Is the above correct? Can someone please verify?
 
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