You really shouldn`t sign a lease without a thorough check of a real estate in any country! But there are a few additional considerations that are particularly important in Cambodian leases, which you may not have taken into account. Here are some tips to note before signing a Cambodian lease. The maintenance costs of condominiums or apartments are usually between 0.50 and 2 USD per square metre, depending on this service. In addition, living in a condo or apartment requires that you will have to pay for parking that costs between 50 and 60 dollars per month. Here too, some rental prices will include both fees – but it`s always best to check. A lease agreement may be oral if the lease is less than one year, but must be written if the lease is more than one year. Any oral lease is considered a fixed-term lease and can be terminated at any time by notice up to the payment period. The deposit required by the lessor depends on the duration of the lease and the nature of the lease (i.e. a business lease or a personal lease). A deposit of 1 to 2 months of monthly rent is the norm and is fully payable at the signing of the tenancy agreement. It is repaid interest-free at the end of the lease, provided the tenant respects the terms of the lease. The lessor reserves the right to deduct all the costs and expenses of the deposit if the tenant violates one of the terms of the tenancy agreement.
Leases are usually prepared in Khmer and English. However, the Khmer version will be predominant in an argument. Parties to a tenancy agreement can freely negotiate the terms – rent, term of tenancy, rental fees, other legal rights and obligations, renewal, increase in rent and conditions for termination of the contract. If you are asking for long-term rent, 1 year or more, you can use it as a bargaining point to reduce your monthly rate. Even though the landlord may not be flexible on the monthly rental price, you may still be able to slip them for free as contract lovers for additional services or home furnishings/household appliances. An advance on rents in the first few months can also be a tempting exchange point for homeowners looking for a quick injection in the short term – but make sure everything goes smoothly or that they catch you later! Now you want to rent real estate in Cambodia, it is always available. A lease agreement may be entered into for an indeterminate period (although an indeterminate lease may not exceed 12 years) or for a fixed period that may be long term (15 years) or short-term. It may be possible to extend by mutual agreement between the parties. There are no legal restrictions on deposits or rental bonds. Rental bonds are normal, the most common are three months to six months` rent, depending on the duration of the tenancy: short or long term.