owner selling the condo that I'am renting

[Barry864]

Hi guys, 

I am renting a condo in Jomtien with a yearly contract and I have 4 more months before its expiration. I was just told by the managing agent that the owner plans to sell it early next year. 

So what happens with me in case its sold and my contract still has not expired ? There is also a good chance I will not be around in Thailand for a couple of months in early next year before my contract expires and I  will not be able to move if needed. Many thanks in advance for your replies

[BritManToo]

Why worry about something that may never happen?

[Barry864]

6 minutes ago, BritManToo said:

Why worry about something that may never happen?

Because Brits usually worry about these things ?

[Will B Good]

 

Same thought crossed my mind.

 

We rented in BKK a couple of years back and I was considering paying upfront, six monthly, to see if I could get a discount.....then thought if he sells up I could get shafted.

 

That hasn't help you has it?....soz.

[Mark Nothing]

My real estate agent contacts report many new condo buyers desire sitting tennants for the income stream.

 

It can take years or decades to sell a condo.  Enjoy life and don't worry about what is not likely to happen.

[ricklev]

Under Thai law, the new owner must honor your contract with the previous owner.  However, things can get complicated of course.  Why not discuss it with your current owner?

[Barry864]

19 minutes ago, ricklev said:

Under Thai law, the new owner must honor your contract with the previous owner.  However, things can get complicated of course.  Why not discuss it with your current owner?

I just wanted to know what the Thai law says about that. Thanks

[Will B Good]

52 minutes ago, Barry864 said:

Hi guys, 

I am renting a condo in Jomtien with a yearly contract and I have 4 more months before its expiration. I was just told by the managing agent that the owner plans to sell it early next year. 

So what happens with me in case its sold and my contract still has not expired ? There is also a good chance I will not be around in Thailand for a couple of months in early next year before my contract expires and I  will not be able to move if needed. Many thanks in advance for your replies

 

 

If the owner of a condo in Thailand decides to sell the property, your rights as a tenant largely depend on the lease agreement. Under Thai law, lease agreements for fixed terms are generally enforceable even if the property is sold to a new owner. The new owner must honor the lease terms, including the remaining duration, rental payments, and other clauses specified in the original contract, such as the right to sublet, until the lease term expires.

 

However, some provisions in the lease, such as renewal or succession clauses, might not transfer to the new owner, depending on the agreement .

 

If your lease includes such provisions, it’s important to verify that the sale of the condo does not affect your renewal rights or other non-lease rights. It may also be beneficial to consult with a local attorney to clarify your specific situation and any potential impacts of the sale .

[Barry864]

13 minutes ago, Will B Good said:

 

 

If the owner of a condo in Thailand decides to sell the property, your rights as a tenant largely depend on the lease agreement. Under Thai law, lease agreements for fixed terms are generally enforceable even if the property is sold to a new owner. The new owner must honor the lease terms, including the remaining duration, rental payments, and other clauses specified in the original contract, such as the right to sublet, until the lease term expires.

 

However, some provisions in the lease, such as renewal or succession clauses, might not transfer to the new owner, depending on the agreement .

 

If your lease includes such provisions, it’s important to verify that the sale of the condo does not affect your renewal rights or other non-lease rights. It may also be beneficial to consult with a local attorney to clarify your specific situation and any potential impacts of the sale .

Many thanks for your detailed reply. I do not care much about renewal. I just don't want to be kicked out prematurely

[OneMoreFarang]

59 minutes ago, Barry864 said:

I  will not be able to move if needed.

Then better talk with the new owner.

If your contract ends, then he obviously does not have to renew it. And if he wants to end it and you can't more or don't want to move, then don't be surprised if he moves whatever is yours and dumps it somewhere.

On the other hand, maybe the new owner wants to continue the contract with you. Better check! 

[Barry864]

3 minutes ago, OneMoreFarang said:

Then better talk with the new owner.

If your contract ends, then he obviously does not have to renew it. And if he wants to end it and you can't more or don't want to move, then don't be surprised if he moves whatever is yours and dumps it somewhere.

On the other hand, maybe the new owner wants to continue the contract with you. Better check! 

I was more worried if I was forced to leave before my contract expires. If the condo changes hands and the new owner does not agree to a renewal , I would certainly be around at that time to rent somewhere else or buy.

[Will B Good]

5 minutes ago, Barry864 said:

Many thanks for your detailed reply. I do not care much about renewal. I just don't want to be kicked out prematurely

 

Well it reads like you should be okay.....but this is Thailand.