A frequently asked question, that is often the hot topic of discussion on local expat forums and Facebook groups:
1. Should I pay 1-or-2 Months Security Deposit for my Rental Property?
The short answer, there are two standards in Bangkok:
– General Standard: 2-Months Security Deposit
– New Law (Made Effective on 1st of May 2018): 1-Month Security Deposit
2. What Security Deposit Standard applies to my rental?
Generally, most rental properties advertised throughout Bangkok by private landlords are subject to 2-months Security Deposit. This has been the norm for many years and most Property Agencies in the Capital will follow this practice.
As for the 1-month Security Deposit regulation, it is only legally imposed on landlords with more than 5 rental properties.
Leading to the next frequently asked question:
3. How can I verify or check the number of properties a landlord owns?
There is unfortunately no practical way to find out. Compliance generally comes down to self-declaration and goodwill.
It is therefore not uncommon, for many landlords to conveniently use the “less than 5 Properties exemption” to wiggle out of their legal responsibilities.
On the bright side, Apartments (Rental buildings managed by a single company) comply with the New Rental Law and are legally obligated to charge only 1 Month Security Deposit.
Some final words to prospective Renters in Bangkok:
The New Rental Law imposes several regulations on Lease Agreements and general rental practices, for more information you can visit: New Thai Rental Law: What to Expect?
If you are new to Bangkok and the whole rental process, you can visit our rental guides:
Goodluck with your rental search!