Lease Property in Thailand
In case you need to occupy the property with some period, you can use the option as lease property with some specific period.
At Siam Attorney property lawyer, we have many years of experience to handle the leasing property in Thailand with multiply locations such as Bangkok, Phuket, Samui, Hua Hin, Chiang Mai etc. We do understand what we should put in the Lease Agreement in order to secure our client’s benefit and due diligent the property before engage into the Lease Agreement. Moreover, we also know how to prepare document to support Lease Agreement because we observe some owners try to cheat for example once the Lease Agreement terminated, they try to not return the deposit, asking money for compensation and more other stupid things. So, we are as your lawyer will do any approach to protect your interest.
4 trips to consider before engage
1. Observation the owner
First time when you see the owner, you should observe how they talk with you. Some owners are strict and difficult to take to. Some owners have the good corporation when we ask for something because along the way of your rent you may have some issues of the property and need help from the owner to solve that issue. If you rent with a good owner, you will have the happy time during your rent term.
2. Quality of the property’s equipment
You should make sure how its equipment look like and is it still working such as laundry machine, water tap etc. Because the owner may declare that you damage it and ask for compensation when the agreement is finished. It is better if you can take the photo to make sure how equipment looks like and attaches with the Lease Agreement.
3. Talk with the neighbor
Not only create relationship with your neighbors, but also ask the character of owners from the neighbor how they look like. And the problem around the property such as traffic noisy, drug, security, rental rate of the property around and others. You can use this information in order to make decision that you are going to rent the property or not.
4. Check the agreement.
This part is very important! Because it will create your right and responsibility. You should make sure that the agreement is consistent with your intention and all terms enforceable by Thai Law. If you are not familiar with Thai Law, you must contact the lawyer who have experiences and use to handle the case before. Because they know how to protect your right since the first day.
Three years lease above
According to Civil and Commercial Code of Thailand, if you lease the property more than 3 years, you need to register the Lease Agreement with the Land Department to make your lease effective and enforceable and the Land Department will charge for registration fee 1%.
Here are some issues that you need to be careful before engage to Lease Agreement:
☑ The Lessor is the owner of the property.
☑ Who will be responsible for the property tax during the lease term?
☑ Right to come inside the property during the lease term
☑ Normal damage of the property/furniture after the lease is terminated.
Document need for registration the Lease
- Original of title deed.
- Lease Agreement for 3 duplicate.
- ID card or Passport of the Owner
- House Registration of the owner
- ID Card or Passport of the Lessee
- Power of Attorney of the Owner
- Power of Attorney of the Lessee
What we can help you?
Our property lawyers have experiences to handle the leasing property such as Due Diligence of the property before engage into an agreement, prepare the Lease Agreement both in Thai & English, register lease at Land Department, renew Lease Registration. We can ensure you that your Lease will be effective and enforceable under Thai Law. Protect your benefit since the first state by contact our firm in Bangkok or Phuket Office to handle your transection properly.