How much rental bond should I pay for my apartment?


#1

Can anyone advise of the “standard” amount of rental bond for an apartment in Taipei?

I’m about to take over a lease on an apartment I’ve lived in for 2 years, but the landlord is reluctant to reduce it to less than 3 months bond, on the basis that it’s the “standard procedure”.

Standard procedure, my arse, I think. I’ve heard that many Taiwanese just pay a 1 month deposit… so is there any guideline (i.e. official government or industry recommendation) for this?

I’m a little peeved because it’s 3 months x $37,500…

Bloody landlords…

Babou.


#2

He’s scamming you. Actually, 2 months deposit is the maximum according to Taipei City by-laws that I read in a gov’t publication in city hall about a year ago. Anything more than that is not just non-standard, but it’s technically illegal for the landlord to insist upon it. Good luck getting any “authority” to enforce that kind of bylaw, however.

If the landlord won’t budge, and you think he is an upright kind of guy, you might want to consider offering two months initially, to be followed by an additional month’s deposit a couple of months down the line when you are on more solid ground, financially speaking. Get everything in writing though - better safe than sorry.


#3

Actually Big Babou, sounds right to me. This is my 3rd place, and every one has been 3 months bond. But, I didn’t have to pay for the first months rent at any of them. So it’s two months rent and the first month in advance = so three months.


#4

DOn’t know what the law says, but in 9 years of renting I’ve NEVER paid more than 1 month’s security deposit. Some landlords have wanted 2, but I/we have always been able to argue them down.

Try presenting irrefutable evidence (you can always fake it if necessary :wink: ) about how you are a solid pillar of the community, a dedicated worker, invaluable to your current employer, super-contented on the island, etc. etc. Mention the incredibly complex procedure required for a foreigner to leave the island. Allude to “exit permits” if you must (even though those have been gone for awhile) but "re-entry might be close enough…

Same thing applies with breaking a contract. You can frequently negotiate down from the original penalty in the lease, depending on how good your “reason” for moving out is. For my last apartment, I moved out for medical reasons (really) and my landlord was very understanding, even took the deposit in lieu of the last month’s rent, which basically left him holding the bag if I had trashed the place. But he was a pretty nice guy to begin with – it’s just that his apartment didn’t have any elevator.


#5

:wink: Hi, Thanks for the advice. It worked wonders, but I didn’t see Ironlady’s response until after I’d renegotiated with the landlord!

I called the landlord last night to discuss the rental bond issue ahead of Sunday’s meeting. I suggested that 2 month’s worth should be okay, and before I could even politely mention that his initial proposal of a 3 month bond was technically illegal, he accepted!

I have another question which relates to who holds the money. In Australia, we’d register the money in a rental bond account through the Post Office. Any interest on the account is returned to the tenant, as it’s his/her money in the first place. Should any dispute arise, it’s automatically referred to the Rental Authority for mediation. The process is quite fair, and takes the power of arbitration out of the landlord’s hands. Naturally, I’m thinking ahead of myself here, but does anyone know of the procedure in Taipei?

Cheers,

The Big Babou.


#6

The landlord holds the money.

Sometimes getting them back is a pain, but that depends on the landlord.

The first place I lived in, the landlord suggested that I didn’t pay rent for the last two months. That worked well.


#7

Once you decided to move out stop paying rent for the last two month, no need to claim back the deposit then …


#8

As title…I’m negotiating a new lease and am up against a really really tough lady; she even offered to lower the monthly rent but wants 3 months’ deposit, which as you know from my prior post is almost something against my religion or something…I’d like to have the regulation in Chinese to discuss with her when needed.