Opening The Real Estate Company

[avantgarde35]

Hi

I would like to know if any special license is required to open the real estate business.

Thanks

[Harmonica]

Hi

I would like to know if any special license is required to open the real estate business.

Thanks

Liquor license is best, but marriage license will do.

[~G~]

Hi

I would like to know if any special license is required to open the real estate business.

Thanks

<{POST_SNAPBACK}>

Liquor license is best, but marriage license will do.

<{POST_SNAPBACK}>

Liquor license will only do for real estate companies in Pattaya. Check your geography!

Edited July 20, 2005 by ~G~

[Harmonica]

Hi

I would like to know if any special license is required to open the real estate business.

Thanks

Liquor license is best, but marriage license will do.

I have yet to see a Drivers License fail to open doors.

[Dragonman]

Hi

I would like to know if any special license is required to open the real estate business.

Thanks

<{POST_SNAPBACK}>

The thai real estate industry is unregulated. As if you couldn't have guessed

There are numerous organisations ,such as REBA where you can go to school, learn a few things and get a licence, for a fee

[avantgarde35]

Thanks guys for the answers.

Actually, my wife and I want to buy a few houses in Phuket to rent out in the company name and I thought to open the real estate company to do that.

For here in Belgium , you need to have studied about real estate before you can open the business so I'm not sure if they need that too in Thailand.

I also wondering if the foreigners who open the real estate business , have the licenses.

[Dragonman]

Thanks guys for the answers.

Actually, my wife and I  want to buy a few houses in Phuket to rent out in the company name and I thought to open the real estate company to do that.

For here in Belgium , you need to have studied about real estate before you can open the business so I'm not sure if they need that too in Thailand.

I also wondering if the foreigners who open the real estate business , have the licenses.

<{POST_SNAPBACK}>

No need to have studied, but if you are opening a competitive business most foreigners will advertise that they are registered and therefore more legitimate. If you just want to rent out your own properties no need to compete that much, just know the business.

[ThaiPauly]

Have you chosen Phuket for any particular reason? The reason I say that is that I do study where houses/Condos are selling fastest and Pattya, Hui-Hin and Samui would seem to offer the best opportunities.

Too many agents in Bagkok and Chaing Mai is a waste of time, too many houses, most of the agents work from home via the Internet, I have only seen one office since I have been here (nearly a year) and the windows a grimey and the properties are all the same old stuff. Not enough buyers, the Moo Ban I am on here sold 3 units last year!!

Good Luck though in whatever you decide to do.

TP

[baht&sold]

Hi

I would like to know if any special license is required to open the real estate business.

Thanks

<{POST_SNAPBACK}>

YES! You should preferably be a FULLY qualified Ex-UK barman, or "Tinman" as they say in the States, to dominantly "fit" into the burgeoning nuevo "HI-SO wannabe" farang estate agency game (erm, profession) in the current lay o' the land (at least for some) in TIT

Hate to "love you and leave you" (estate agent pub speak y'know;) but gotta run....

Edited July 21, 2005 by baht&sold

[Sumitr Man]

In an effort to stimulate the second-hand housing market in Thailand, yesterday most Thai language newspapers were reporting that Thaksin (sorry, the Government) was planning to introduce legislation this year which would mean that both Real Estate companies and those who sold real estate would need to be "qualified".

Of course, saying and doing are 2 different things - but keep your eye on the local press for developments on this.

SM

[taxin]

Thanks guys for the answers.

Actually, my wife and I  want to buy a few houses in Phuket to rent out in the company name and I thought to open the real estate company to do that.

For here in Belgium , you need to have studied about real estate before you can open the business so I'm not sure if they need that too in Thailand.

I also wondering if the foreigners who open the real estate business , have the licenses.

<{POST_SNAPBACK}>

You do not need a real estate company nor do you need a specific license for renting out properties.

Is your wife Thai ?

[avantgarde35]

Yes , my wife is Thai.

It's just that I want to be covered when something happen ... you never know.

Let's say .. the one who rent our houses doesn't pay the rent or destroy it or even burned it. So I want it to be legal that I will get pay back for the damages wherever it come from.

[taxin]

Yes , my wife is Thai.

It's just that I want to be covered when something happen ... you never know.

Let's say .. the one who rent our houses doesn't pay the rent or destroy it or even burned it. So I want it to be legal that I will get pay back for the damages wherever it come from.

<{POST_SNAPBACK}>

So your wife is Thai which is a good start. You have 2 options, you use a third party rental agency in Phuket (there are several) or you do it yourself, doing it yourself will of course be much cheaper.

If you are going to be living in Phuket then you would be wise to do it yourself. Agents will take a percentage which can range between 10% & 30% depending on the term, most people use agents because they are not resident in Thailand.

As for your house being "burned down" all you need to do is ensure you have sufficient insurance in place, this can be obtained in Phuket at reasonable rates. There is no way you can hold the tenant responsible for this however, you can take a holding deposit to cover minimal damage or loss.

With regards to the owner not paying rent thats simple, you take a month deposit (or more), if they dont pay you ask them to leave and keep the deposit ! Again you are better off doing it yourself, going through an agent will be more difficult to kick them out because of contracts and certain conditions.

[avantgarde35]

Thanks all for the advices and informations.

[Dakhar]

I knew of an "agent" that would tell the property owner that the house was vacant and they were deligently trying to get more renters in....

All the while the property was not vacant, the agent was just pocketing the rent money...

Ah the glories of living in a cash based society. It can sting you back too!

[avantgarde35]

I knew of an "agent" that would tell the property owner that the house was vacant and they were deligently trying to get more renters in....

All the while the property was not vacant, the agent was just pocketing the rent money...

Ah the glories of living in a cash based society.  It can sting you back too!

<{POST_SNAPBACK}>

I didn't ask any bad opinions from you about real estate company because we're going rent out our OWN properties.

And the question was only that if we need any licenses for that. That was good from another people to give some good advices or informations.

Don't put everyone on earth on the same line. There must be good companies too or else they would not survive for long.

Actually, how do you know all about that???

Probably , that was what you did before ??

P.S. Next time , read good on top of the forum what exactly the question is before you give any bad comments.

[Dragonman]

Yes , my wife is Thai.

It's just that I want to be covered when something happen ... you never know.

Let's say .. the one who rent our houses doesn't pay the rent or destroy it or even burned it. So I want it to be legal that I will get pay back for the damages wherever it come from.

<{POST_SNAPBACK}>

As taxin stated you will need property insurance. However there is likely to be an extra charge if you do not actually live in the property as insurance companies see tenants as a greater risk. Also ensure that you have a rental agreement drawn up by someone experienced, if you are not, to ensure legal proceedings can take place if damage is done to the property. Always take a copy of the passport or ID of anyone you rent to and keep it with your copy of the agreement.