Renting Property, Owner Selling Property

[eljeque]

A friend is about to start renting a condo for one year. He is getting a discount for paying a year in advance.

How can he ensure that the owner does not sell the property?

1. Writing it into the contract (but this does not actually stop the owner)

2. Registering the contract at the land office on the back of the chinote

(Is this common with rental agreements?--Not from what I have seen here in 18 years)

Ears are open to ideas

Thanks

[quiksilva]

The short answer is he can not. It's the owner's to deal with as they please.

Even a property with a registered lease can be sold, but the new owners will become the "Lessor" and if registered will be equally bound to honour its terms.

Note that it would be highly unusual to register the typical 12 month condo let at the land department, and most owners would not accept this, unless your friend foots the bill, but even then I doubt the owner would agree to put up with the hassle of registering the lease every year.

In the likely event that you can not get the lease registered, insert an appropriate clause into the 12 month tenancy contract that deals with the assignment of contractual responsibility upon the event of a change of ownership.

[InterestedObserver]

The property owner has an absolute right to sell his property at any time. A valid lease would carry over to the new owner unless superseded by a termination clause.

[trogers]

Property owner can sell his property that is on lease. Lessee should remind potential new owner to obtain the Lessee's security deposit from the property seller before inking the sales agreement, as this deposit is refundable to the Lessee upon end of the lease.

[eljeque]

Thanks for all of your ideas and information.

[griz30]

Why does he fear it will be sold??

[donx]

Why does he fear it will be sold??

Is he afraid it will be sold because the property is listed for sale or for lease?

[stgrhe]

This is what the law says:

http://www.samuiforsale.com/Civil_Code_tex...sh_II.html#Hire

I urge you to pay special attention to paragraphs 566 and 569. That means if the rental agreement is written for a period of e.g. 12 months it cannot be cancelled for other reasons than for misconduct by the letter even if the property is sold.

I would however, in addition to the specific rental time, add a binding effect clause should the property be sold or in any other form transferred to another owner during the rental period.

[katabeachbum]

A friend is about to start renting a condo for one year. He is getting a discount for paying a year in advance.

How can he ensure that the owner does not sell the property?

1. Writing it into the contract (but this does not actually stop the owner)

2. Registering the contract at the land office on the back of the chinote

(Is this common with rental agreements?--Not from what I have seen here in 18 years)

Ears are open to ideas

Thanks

Make a clause in the rental agreement owner can not sell property as long as rent is prepayed for, and the consequense for owner to do so, like refunding 5 times payed rent. Works in court, but is it worth it?

[quiksilva]

Good luck getting an owner to agree to that!

[Chunkton]

I believe the operative word here is owner rather than tenant. As such they can sell, if the new owner wants you out you will go and probably wont see any refund on your advance payments. Better to pay by the month.

The "rent never buy" mob (as they probably can't afford it) often forget to mention this. Think of it as the advantage of unrestrained mobility.

[katabeachbum]

Good luck getting an owner to agree to that!

agree

as an owner, I wouldnt, but its the only way to secure and make enforcable in court. but who wants to go to court?

also have to agree on "the rent never buy mob" comment

[eljeque]

I thank everyone for their ideas.

..... and especially the link.

The owner is not looking to sell, but no one ever knows what will happen.

The tennant does not mind who owns it, but needs to know that if it changes hands, that his lease is still good for the year.

[katabeachbum]

I thank everyone for their ideas.

..... and especially the link.

The owner is not looking to sell, but no one ever knows what will happen.

The tennant does not mind who owns it, but needs to know that if it changes hands, that his lease is still good for the year.

a one year prepayed lease is not good if property is sold, cause its not registered in land deed. New owner does not need to honor it. A refund can be asked from previous owner.

[reallyok]

I believe the operative word here is owner rather than tenant. As such they can sell, if the new owner wants you out you will go and probably wont see any refund on your advance payments. Better to pay by the month.

The "rent never buy" mob (as they probably can't afford it) often forget to mention this. Think of it as the advantage of unrestrained mobility.

Rent never buy mob ! I was led to believe that a farang is not allowed , by law , to own a house in LOS. Yes to a condo, but i am one of the "mob" who could/would never want to own or live in a condo.

I will be looking to rent a small house in the Kho Lak area at the end of the year, so although i could afford to buy. i will be looking at the bottom end of the rental market with 6 mth renewable option.

I am dead against buying in the name of my g/f so please do not suggest it.

[nam-thip]

The ‘rent not buy mob’ of which i’m proud to be a member of.

How many of you guys out there have ‘your own name’ on the house and land it stands on?

None?

Wow, that’s a wise move!!

If you lease the house or land from a Thai partner then, welcome to the rent not buy mob.

I can well afford to buy but the law is against me unlike the UK where i own four houses ‘lock stock and barrel’ and all without fear of being told to get the hel_l out of “MY HOUSE” by the legal owner who in your case will most certainly be Thai.

I sensibly lease a house in Thailand and will continue to do so until the law changes and affords me legal rights that guarantee's my money is safe.

‘A fool and his money’ come to mind with some people in LOS.

[onlycw]

A friend is about to start renting a condo for one year. He is getting a discount for paying a year in advance.

Q: how much is the discount? Probably not worth it. Go M2M with a 1 year lease. I am M2M with a minimum of 6 months. But then, my rent is only 6 k.

I would want the freedom to move when I want to.

Our lives change, i would hate to prepay a year...

[stgrhe]

I believe the operative word here is owner rather than tenant. As such they can sell, if the new owner wants you out you will go and probably wont see any refund on your advance payments. Better to pay by the month.

The "rent never buy" mob (as they probably can't afford it) often forget to mention this. Think of it as the advantage of unrestrained mobility.

Rent never buy mob ! I was led to believe that a farang is not allowed , by law , to own a house in LOS. Yes to a condo, but i am one of the "mob" who could/would never want to own or live in a condo.

I will be looking to rent a small house in the Kho Lak area at the end of the year, so although i could afford to buy. i will be looking at the bottom end of the rental market with 6 mth renewable option.

I am dead against buying in the name of my g/f so please do not suggest it.

I too am sick and tired to hear the non-constructive comments from the "rent never buy" mob as their posts only contaminate the forum.

[trogers]

I believe the operative word here is owner rather than tenant. As such they can sell, if the new owner wants you out you will go and probably wont see any refund on your advance payments. Better to pay by the month.

The "rent never buy" mob (as they probably can't afford it) often forget to mention this. Think of it as the advantage of unrestrained mobility.

Rent never buy mob ! I was led to believe that a farang is not allowed , by law , to own a house in LOS. Yes to a condo, but i am one of the "mob" who could/would never want to own or live in a condo.

I will be looking to rent a small house in the Kho Lak area at the end of the year, so although i could afford to buy. i will be looking at the bottom end of the rental market with 6 mth renewable option.

I am dead against buying in the name of my g/f so please do not suggest it.

I too am sick and tired to hear the non-constructive comments from the "rent never buy" mob as their posts only contaminate the forum.

As a landlord, I love the "rent never buy" mob. Imagine if all were to buy...who will be my tenants?

[Naam]

I believe the operative word here is owner rather than tenant. As such they can sell, if the new owner wants you out you will go and probably wont see any refund on your advance payments. Better to pay by the month.

The "rent never buy" mob (as they probably can't afford it) often forget to mention this. Think of it as the advantage of unrestrained mobility.

Rent never buy mob ! I was led to believe that a farang is not allowed , by law , to own a house in LOS. Yes to a condo, but i am one of the "mob" who could/would never want to own or live in a condo.

I will be looking to rent a small house in the Kho Lak area at the end of the year, so although i could afford to buy. i will be looking at the bottom end of the rental market with 6 mth renewable option.

I am dead against buying in the name of my g/f so please do not suggest it.

what about the other mob (to which i belong) who could/would never live in a condo or a rented house except during construction of a house?

[MJo]

Q: how much is the discount? Probably not worth it. Go M2M with a 1 year lease. I am M2M with a minimum of 6 months. But then, my rent is only 6 k.

I would want the freedom to move when I want to.

Our lives change, i would hate to prepay a year...

Depends, you might move to different apartment every few months but others need "security" and don't want the hassle to pack up and move few cubic meters of stuff and move the kids to different school every six months.

My point is that it all depends on your individual situation and preferences thus i do not understand this constant battle over rent or purchase here in TV...