Leases and lease terms vary from country to country. Sometimes from city to city! What are the seven most important things to know when renting an apartment in Taiwan?
Beyond the best location for access to your work and your child’s international school, you’ll need to know how renting an apartment is the same or different from your current location.
Lease Period: In Taiwan, leases typically are for 24 months. It may be difficult to find a 12 month lease. Negotiations will be required and the landlord will need to be willing to accept a shorter time frame.
Security Deposit: For most situations, the security deposit will be equal to 2 months rent.
Diplomatic Clause / Termination: There is not diplomatic clause usually permitted in Taiwan leases. Terminations are pretty standard and will be outlined in the lease agreement. Usually there will not be a termination allowed during the first 12 months of the lease. Afterwards, termination will be allowed with a 30-60 days written notice and a penalty of 1 months rent.
Types of Leases: There are two acceptable kinds of leases which cover most assignee’s situations. Both corporate and personal leases are agreeable to most landlords.
Rental Payment Cycle: This may seem to be strange, unless previous experience has created an understanding of rental payment cycles importance. In some locations, 24 months of rent must be paid upfront. But not in Taiwan. Rent is paid either quarterly or monthly.
Utilities: Costs are typically not included in the rental price. Tenants should be prepared to pay the utility costs such as gas, water and electricity. Some rentals will include the building maintenance and garbage collection, but not all.
Real Estate Agent Fees: Real Estate Agents will charge a fee which is based upon the price of the rental property. It is customary for the fee to equal 1 months rent and to be paid by the tenant.
The upfront costs for securing a new apartment in Taiwan will be equal to about 4 months rent: First month’s rent, 2 months security, realtor fee equal to 1 month’s rent.