Farang renting own property in Thailand

[aserdem]

I am interested renting out my own condo in Pattaya. I need to find out legal requirements for coming a landlord in Thailand. Thanks

[mahjongguy]

- Since you don't have and cannot get a hotel license, the minimum rental period must be 30 days.

 

- It would be advisable to make a deal with someone, perhaps the condo business office, to act as your rental agent. This may result in a higher occupancy rate, and keep you out of trouble for not having a work permit.

[aserdem]

- Since you don't have and cannot get a hotel license, the minimum rental period must be 30 days.
 
- It would be advisable to make a deal with someone, perhaps the condo business office, to act as your rental agent. This may result in a higher occupancy rate, and keep you out of trouble for not having a work permit.

Thanks for advice but i didn't understand something, so if I rent it more than 1 month is there any problems as a foreigner in this country? Do I have to pay tax or do I need working permit?

[KittenKong]

42 minutes ago, aserdem said:

Thanks for advice but i didn't understand something, so if I rent it more than 1 month is there any problems as a foreigner in this country? Do I have to pay tax or do I need working permit?

 

You should declare the income and pay any tax due, of course. Though few people probably do. You will get the normal personal allowances.

 

As long as you dont do any actual work when renting your condo (ie you dont show people around, or do any painting or repairs, or go and collect money) then you aren't working. To avoid any possible misunderstandings you can get a Thai agent to do all that for you, as mentioned.

[rolfefox]

Once you find a rental agent to take care of your property, are you required to sign a document that describes you as a partner and the rental agent as the owner of the condo?...

If so, could this document be used against your ownership later on.. Or just a formality.? thanks rolfe

[trogers]

1 hour ago, rolfefox said:

Once you find a rental agent to take care of your property, are you required to sign a document that describes you as a partner and the rental agent as the owner of the condo?...

If so, could this document be used against your ownership later on.. Or just a formality.? thanks rolfe

Agent as the owner? The owner is the person named on the title deed, which your juristic office would have a copy.

 

An agent is an agent. And I would advice that you sign all lease agreements as the Lesser and all money banked directly to your Thai account. You can remit money for expenses to your agent through this account via internet banking.

[blackcab]

2 hours ago, rolfefox said:

Once you find a rental agent to take care of your property, are you required to sign a document that describes you as a partner and the rental agent as the owner of the condo?...

If so, could this document be used against your ownership later on.. Or just a formality.? thanks rolfe

 

Find a better agent. Someone that freely mixes the terms agent, principal and partner is only going to cause you problems at a later date.

 

Well done for spotting it and having the common sense to ask.