The common deposit in Thailand is a two-month deposit. This means that when you’re about to move in to a condo, you’ll need to pay for three months: two months for a security deposit and one month for the first month of your lease.
The security deposit is returned to you at the end of your lease after the owner or management company makes sure you didn’t break anything inside the room.
Usually, on short-term leases you get your full deposit back once the lease is over. But on longer leases, where wear and tear is common, you might not get your full deposit back.
To increase your chances of getting your money back, you should:
- Inspect the condo before signing the lease. If you see any damage, tell the owner immediately. If there are any exceptions, write them down and have both parties sign off on the agreement.
- Take pictures of everything inside the condo, including furniture. It will come in handy if there’s any dispute later on.
- Keep the owner informed of what’s going on inside the condo. If there’s a water leakage, tell them.
- Decorate the condo conservatively. Many places don’t let you paint or put holes in walls. If you’re unsure about something, ask the owner.
- Give the owner a thirty-day notice before moving out. This is commonly required in the lease.
- Keep evidence of your rental payment every month. It can be in the form of a bank transfer receipt or receipt from the condo. Mistakes may happen. Sometimes the management office claims that you haven’t paid your rent even though you did.