Yearly rental agreements and payments

ibis69

Hello, Please direct me to the right place To post this if its in the wrong place I'm after information on:- 1)lease agreements on yearly rentals, should they be with owner or Balinese sub-owner(Balinese sub-owner is offerings 25 &40 year leases? 2) is their a standard format? 3) should I go to a ray white Kuta or semi reputable company to get this document sorted properly? It's scary as its my first venture? 4)Payment, has anyone payed via PayPal? Kind regards

spicyayam

1) What is a "sub-owner"? Do you mean nominee? For sure any agreement should be made with the owner of the property. If the owner is a foreigner, then of course you might need to deal with the nominee. 2) This is the usual job of a notary, so they can provide the necessary agreements for lease. Make sure you understand everything and it is properly translated if you don't understand Indonesian. 3) Ray White is an agent and unlikely to help if it is not their property. Everything should be done through a notary. 4) Paypal has its uses for small transactions, ebay auctions, deposits for accommodation etc. But I don't think anyone would use it for what might be a large amount of money, since you are talking about 25/40 year lease, where the fees would be a crazy amount and would more than likely get flagged by PP. I would suggest finding a good notary who can guide you through the process and check that everything is legit with the property. A few things in your post make me feel a little worried.

Markit

ibis69 wroteHello, Please direct me to the right place To post this if its in the wrong place I'm after information on:- 1)lease agreements on yearly rentals, should they be with owner or Balinese sub-owner(Balinese sub-owner is offerings 25 &40 year leases?[COLOR=#ff0000]Take you Balinese "sub-owner" with you to a reputable Notary along with you reputable translator and ask all the questions that a thorough read of this forum will throw up. Then go away with the answers and think about the whole thing a bit. [/COLOR] 2) is their a standard format?[COLOR=#ff0000]Unfortunately not that I know of. [/COLOR] 3) should I go to a ray white Kuta or semi reputabl[COLOR=#ff0000][/COLOR]e company to get this document sorted properly? It's scary as its my first venture?[COLOR=#ff0000]Since Ray White are represented on this forum I would say... you've already porked that pooch. [/COLOR] 4)Payment, has anyone payed via PayPal?[COLOR=#ff0000]Unless you are going for the bamboo hut with no toilet you aint gonna have enough Pay Pal to get that done unless you can max it out 1 year long. [/COLOR]

spicyayam wrote1) A few things in your post make me feel a little worried.

This has to be the understatement of 2014 so far but it is only quarter past February.

Barekarma

Hi Ibis, I think I covered a lot of my views in another response to you, but, just in case, I would recommend you find a Notaris who has PPAT (they proudly display that qualification on their business cards and offices) for the area in which you are planning to rent. I would recommend that any property you plan to rent, take many, many photos of the place BEFORE you move in, especially when seeing the place with the owner (get a photo of the owner's KTP.... just in case it is, say, the gardener's brother, and not the owner). If there is any dispute afterwards about the condition of the place, you will have evidence, and the owner knows it. Don't be surprised if the owner asks for the yearly rent to be paid in cash. They don't know you, so they may want some reassurance. We paid 6 months rent in cash in one hit, and once that was all done, every other payment was via bank transfer. Trust has to be earned. Good luck

ibis69

Thanks for the response, A few things I need to clarify that I probably did not communicate properly,Only looking for a yearly rental agreement so Paypal COULD be done,but I was askign as I have never heard of it before,and again thanks for your Input.next question reputable Notary in Seminyak area?and thank you barekarma Cheers