3 months deposit?!?!

[jadick]

OK, I know I read about this somewhere but it's 2 AM here in freezing Minnesotaand my husband is working out the details of our lease there this afternoon and I cannot find the thread I read on this... what are reasons a landlord would agree to NOT require such a huge deposit.i.e our employer is signing the lease and it's for 2 yrs etc? My husband's new employer is resisting coming up with the upfront cash (we got a huge salary and they assumed that should cover it, we assumed getting there and getting moved in was seperate live and learn) It seems like the fact that we are working for a chinese company is making all this expat stuff more difficult? We have a huge family (6 kids) so all of these things add up faster.

[KnowItAll]

The upfront payment -- which is standard is

2 months deposit
1 months rent in advance
and any agency commissions + stamp duties payable

3 months deposit sounds a bit dodgy... talk to the estate agent who is brokering the deal.

[jadick]

2 months deposit
1 months rent in advance.... I guess i just am not used to renting.... it's been awhile well I asked my husband to try to negotiate i hope that won't cause a problem?

[saltwater]

You can try and negotiate, but its just the way it works here unfortunately. Put it this way - its a good nest egg for when you leave Hong Kong!

[KnowItAll]

An employer might be able to put the deposit down as a 0% loan. Its been a while since I looked at it, but I remember when I'd moved to Hong Kong, the company had signed the lease and made me sign a document saying that the payment was a loan of sorts and was to be paid back without any interest when the lease expired.

[PDLM]

Condoms would have been cheaper

[JAherbert]

OK, I know I read about this somewhere but it's 2 AM here in freezing Minnesotaand my husband is working out the details of our lease there this afternoon and I cannot find the thread I read on this... what are reasons a landlord would agree to NOT require such a huge deposit.i.e our employer is signing the lease and it's for 2 yrs etc? My husband's new employer is resisting coming up with the upfront cash (we got a huge salary and they assumed that should cover it, we assumed getting there and getting moved in was seperate live and learn) It seems like the fact that we are working for a chinese company is making all this expat stuff more difficult? We have a huge family (6 kids) so all of these things add up faster.

hi,
seriously if you have 6 kids I wouldnt dont sign any contract before you see the place in real life, HK properties are small, real small and you will not appreciate it until you are here on the ground.

Better to arrange for serviced apartment(s) for your first month so you can assess what will work for you.

Schools, if they are school age will be important, since a decent school might have a long waiting list. And school fees for 6 kids! would dent your budget.

good luck

[Mat]

Condoms would have been cheaper

This one was great. Really made me laugh !!!

[jadick]

Maybe but you know us youngun's can't keep our hands off eachother! Actually though we have 1 set of twins and 2 adopted. So I've only been pg 3 times. LOL Guess adopting kind of circumvented that vasectomy!! I just thought I'd be living in the US with lots of space!

[jadick]

My husband is there looking at al these properties, I've been staying up all night several night so he can email me pictures from his phone while he's looking at them. I don't know how one could do this without technology. He has a pretty good idea of what we need and I was there in Sept looking at properties too. I was really surprised to discover what 2200 sq feet lookslike in HK. Stillit's only a 2 yr contract so I am trying to think "Big hotel room" not TINY apt.