ubonr1971

Yes we did new wiring when I renovated it 5 yrs ago. We have a clause covering our butts as you say above. But unsure how this works if we renew contract with their company structure

I have a WP and we dont have a company structure. Many foreigners here do this. In fact I recently read a comment about a guy in Chiang mai thereabouts who is applying for citizenship. Respect your other comments above and agree with most of it. cheers

Im trying to make a decision as to whether or not keep our tenants or replace them. They started renting our 3 storey building 4 yrs ago. They have a busy successful restaurant. Its in prime location in our city right opposite the shopping centre Positives: - They didn’t cancel the contract during the quiet covid years - Friendly enough. They are well off financially and travel to Europe. But not stuck up and pretentious. - Pay rent on time. Never defaulted on the rent. - Now we get 59k a month. - Most of their staff are from Cambodia. Very friendly to me when I do inspections. Negatives: - All their staff live in the upper 2 floors. The place is really dirty but normal I suppose - We installed a new fire alarm in Jan. At a recent inspection I was pissed to see it was unplugged. Tenants assure us it will be on all the time from now on. - We worry about gas explosion/ fire. They have a line of gas cookers in the kitchen. Also a cooking area in the section where the guests sit at the tables. I read online that this is illegal in Thailand. If you own a restaurant here could you please comment. - I drive past the building several times a day bc our land is nearby. I rarely see them inside. We think they are never there. They have several other restaurants and a hotel. I probably see him in there once a month at our building We pay 50% each on 2 insurance policies. 1 for fire /explosion damage to our building. 1. For 3rd party damage to neighbours building I suppose Im worried what happens if, in worse case scenario, gas bottle explodes in dining area with many fatalities. Ins polices might pay out for damage to building’s. If tenants don’t play ball and we have to take them to court, it could take years. Currently the contract is with them personally. But this year they changed to company structure. If we renew the contracts should we do contract with their company or keep to personal names? If you have experience with this in Thailand NOT your western country please make a comment. Does anyone know if a permit to operate gas cooker is required at a restaurant in Thailand or does it come with the general license issued by the local govt dept? At the end of Aug’, this month, we could give them 4 months notice to terminate the contract and they are out at the end of Dec. I think its safer to rent to a motorcycle shop or a furniture outlet for example. Im seeing on the news gas explosions all the time. Warehouses, buildings and houses on fire. Am I thinking too much about this. Thai landlords probably would not give a crap about the risks. My wife doesn’t care. She says leave them alone. TIT. Should I just put my head in the sand as well?? New tenants could be double trouble. Just don’t know what you get when tenants first move in. Whats your opinion. What would you do in this situation getting 708,000 a year in rent for a high risk business? Or do you think its low risk. Gas bottles rarely explode..... thanks

Thanks for your negative opinion on my personality. I bet that you have many friends down at the local pub. I will just do whatever I want, whenever I want. How does that sound to you. I hope that this lack of control that you have over me doesnt ruin your day today.

You were not there and dont know what you are talking about.

Your assessment is BS. The driver was probably on the phone/ looking at the phone

savings acc

Dont you have to get a savings account from them as well? ie to pay the loan off?

I dont agree with your comment at all. I only have a thai pink id card for farang and I opened an account at GSB. I have a WP though. I cannot transfer above 50k bc their system cannot do this for farang The 1mill deposit protection rule doesnt apply to GSB. Go and ask them. They will tell you its unlimited. We have mega rich thai friends who say they only keep money in GSB

Yes. Normally all banks require monthly repayments from their savings acc to the loan account. What an odd ball bank

are you joking? Do you have any evidence of this?

I visited the local Tisco bank and they denied me opening an account. I have WP and my wife has an account with them. They said only Thai people can have accounts with them. I thought that was ridiculous and used google translate to say 'This bank is old fashioned and possibly xenophobic' and subsequently walked out. Still interested to know if my local branch is correct or not. thanks

can we apply directly at SCB? thanks for the link

plus the new thai tax law that everyone is talking about re foreign income.....

with what company? Any in Thailand?

My wife is interested in investing in a U.S based fund eg Vangard S&P500 ETF fund. Can Thai citizens do this? Ive read a few posts on retirement mutual funds in Thailand and they don't get good reports: thanks

yellow bank gives the performance for its funds. doesnt look so good to invest in equity mutual funds. Lots of negative returns. https://www.krungsriasset.com/EN/Fund-Performance/Past-Performance-Record.aspx

She says its tax deductable.

My wife wants to put money away to a retirement mutual fund. Theres a link to what bangkok bank offer below: https://www.bangkokbank.com/en/Personal/Save-And-Invest/Mutual-Funds/Retirement-Mutual-Funds What do you think about this product? She already has an old fashioned AIA life insurance policy that she is paying 260k per year. It has the health insurance as part of the package. I think its a dumb product to pour money into but she is stubborn about this. What about the retirement mutual fund for her. Actually we both are earning high income from our business. Im mid 50s and have no retirement fund from back home. Should I be putting monthly money into this as well? We have a valuable building rented out and land x 2 that we bought (in her name. 1 land is in my daughters). But both of us do not have any retirement funds as such. Any thoughts? thanks

we built a carport with room and ensuite. PWA will connect the water without a house/ dwelling. Very easy. More complicated for electrictiy

We paid 6000 deposit to have a PEA temporary meter access. Because we dont have a tabian bahn on our land we paid 40k to put in 5 PEA poles along a soi next to our land. Then I paid for 3 more inside our land. Our electric guy moved the temporary meter box to the 5th PEA pole on that soi next to our land. So then we tried to cancel the temporary meter and install a permanent one. We told them above. They said that the meter should be on a pole thats on our land not the PEA pole on the soi. I thought that was BS. How is the monthly bill invoice supposed to be issued. Does the guy have to come on our land. Bc we dont have the tabian bahn we had to give a copy of our village chiefs id. Maybe this is the reason? It seems stupid though. Any comments are appreciated. I cannot find the electrical forum anymore on the home page.

haha real experts in google. What a joke.

No. Most comments say the front is best for new tyres. I think one or so said the rear but I cant be bothered to scroll up and count.

apart from if one pays bar fine and take a motorcycle taxi home

Champagne a go go?