Are agent services free of charge? (Who pays the agent fee?)
Agent services are free of charge for property seekers (tenants and buyers). The general rule is that the property owner/landlord pays the agentu2019s fee for services rendered.
What is the role of a real estate agent?
Real estate agents are skilled professionals who specialize in buying, selling, and renting properties. With in-depth knowledge of both local and broader property markets, they provide valuable insights to help clients make informed decisions. They actively market properties to attract the widest audience, ensuring maximum exposure. Beyond property searches, real estate agents assist with negotiations, contract drafting, and mortgage applications. They also facilitate smooth property handovers and oversee the transfer process at the Department of Lands. Additionally, they maintain ongoing communication throughout the lease period, acting as a bridge between all parties involved.
Why should I work with a real estate agent?
Working with a real estate agent provides you with expert knowledge, industry experience, and valuable market insights to help you make the best decisions when buying, selling, or renting a property. Agents handle property searches, negotiate favorable deals, and ensure all legal and contractual requirements are met. They also assist with mortgage applications, property transfers, and smooth handovers. Additionally, a real estate agent saves you time, reduces stress, and helps you avoid costly mistakes by guiding you through the entire process with professionalism and efficiency.
What is Key Money ?
Key Money is typically funds that are given to either a landlord, or a sublessor in exchange for the new tenant being allowed to take over the space. Many times the key money will include FF&E, and sometimes the business operations.
How much is the security deposit for renting a residential property in Thailand?
Generally, the security deposit equals 2 monthsu2019 rent. If you have a pet, an additional deposit may be required to cover any potential damage caused by the pet. A security deposit will be refunded after the tenant hands over the property to the landlord upon lease expiry.
What is the minimum rental period for a residential property?
The standard rental period for most residential properties is 1 year. However, rental terms can be more flexible depending on the agreement between the tenant and the property owner. In some cases, shorter or longer leases may be available.
What other charges are tenants responsible for besides the rental rate?
In most cases, the rental rate includes maintenance fees and common area charges billed by a juristic person paid by the landlord. Tenants are generally responsible for paying electricity and water bills and any other utility or service bills to which they have subscribed.
Are there any pet-friendly residential properties in Thailand?
Yes, many residential properties in Thailand are pet-friendly. Houses and townhouses are usually the best choice for tenants with pets. Many apartments and properties with single ownership often welcome pets. However, condominiums generally have more restrictions due to the juristic policies in place. That said, there are also pet-friendly condos where owners and developers allow tenants with pets.
Can foreigners buy a freehold property in Thailand?
Yes, a foreigner can buy a condo, or office space (non-landed property). However, foreigners wishing to purchase land or property on a plot of land can do so only through a Thai majority-owned public limited company.
What is a TM30 form in Thailand, and do I need it for renting a property?
The TM30 form is a document required by the Thai immigration department for foreigners who stay in Thailand for extended periods. Property owners must submit this form to register foreign tenants. If you are renting a property in Thailand, the landlord or property owner will generally handle the TM30 registration.
How much is the security deposit for renting a commercial property in Thailand?
Generally, the security deposit for renting a commercial property in Thailand equals 3 monthsu2019 rental rate. In some cases, a higher deposit may be required, especially if the property includes new equipment or is located in a community mall. The deposit may also vary depending on the type of business you plan to operate. Other deposits such as electricity, and water usage may be charged.
What is the lease term for a commercial property in Thailand?
The standard lease period for commercial properties is 3 years. However, longer or shorter lease periods can be negotiated and agreed upon. Tenants who invest substantial money into the property will prefer longer lease periods, whereas new or rapidly growing businesses may opt for shorter, more flexible lease periods.
Do I need insurance for a commercial property lease?
As a tenant, you will generally be responsible for property insurance, including fire insurance for the building. Itu2019s essential to clarify the specific insurance requirements with the property owner before signing the lease.
Are there additional taxes or fees for commercial properties?
In some cases, the rental price may not include land, building taxes, or common fees. Therefore itu2019s important to discuss and agree before entering into an agreement. Additionally, tenants may be responsible for business-related taxes, such as signage tax, business tax, and any necessary licenses related to your business activities.
What are the electricity and water rates for commercial properties?
Electricity and water rates in commercial properties such as shophouses, and other individually owned properties are generally paid directly to providers MEA or MWA. However, retail spaces in larger commercial buildings, retail centers, or malls may charge higher rates due to the cost associated with maintaining the utility infrastructure for which the property owner is responsible. Utility rates shall be detailed in the price offer and/or lease agreement.
How much is the security deposit for renting an industrial property in Thailand?
Generally, the security deposit for renting an industrial property in Thailand equals 3 monthsu2019 rental rate. However, if the property is located within an industrial estate or a free trade zone, the deposit may be higher, ranging from 4 to 5 months. This depends on the specific requirements of the landlord and the nature of the tenantu2019s business. Security for some older properties or those owned by individual owners may require less than a 3-month rental rate deposit.
What is the typical lease term for an industrial property in Thailand?
The standard lease term for an industrial property is 3 years. Many large industrial property companies will not consider lease periods shorter than 3 years. However, for many industrial properties, periods of less than 3 years can be agreed upon, especially for warehouse space that often requires shorter terms for goods storage. However, factory lease periods are generally 3 years or longer given the complexity of equipping and operating manufacturing plants.
Is every warehouse and factory eligible to obtain a factory license (permit)? And which ones are more appropriate?
A factory license is not automatically granted with the rental of an industrial property. The factory license is typically issued for properties constructed and designated specifically for industrial use. However, there are additional conditions that must be met, including compliance with zoning laws, environmental regulations, and safety standards. Itu2019s essential to check with local authorities and your landlord to ensure the property meets the requirements for obtaining a factory license.
Are there any additional taxes I need to consider when renting an industrial property in Thailand?
When renting an industrial property, tenants may be responsible for various taxes depending on the terms of the lease. Common taxes associated with industrial properties include land and building tax and business tax. These taxes may either be covered by the landlord or passed onto the tenant, so it is crucial to discuss and clarify the specifics before signing the lease agreement. Additionally, tenants may be responsible for taxes related to their specific business operations, such as license fees, taxes on machinery, or other business-related taxes.
Cost of utilities in industrial properties
Water and electricity rates are generally charged as per the utility provider MEA, MWA, PEA, or PWA. However, some properties may have higher rates due to the cost associated with maintaining the utility infrastructure for which the property owner is responsible. Utility rates shall be listed in the price offer and/or lease agreement. Natural or liquefied gas is only available in tanks and can be purchased via third-party suppliers.
Is insurance required for an industrial property lease?
Yes, tenants are typically required to carry insurance when leasing an industrial property. Common insurance types include property insurance to cover building damage and liability insurance in case of accidents on the premises. Depending on the business operations, you may also need additional insurance, such as product liability insurance, fire insurance, or coverage for machinery and equipment used in the factory. Always ensure that the insurance coverage meets both legal requirements and your operational needs.
What is “rai” , “ngan” , “wah”? Land measurements units in Thailand.
Specific unit measurements are used in Thailand to state land plot size:
“rai” 1 rai = 1,600 sq.m
“ngan” 1 ngan = 400 sq.m
“wah” 1 sq.wah = 4 sq.m
Example:
A land plot size of 5 rai 1 ngan and 27 sq.wah would be written in the following format:
5-1-27 rai
Land units used on our website are sq.wah, thus 455 sq.wah = 455 * 4 = 1,820 sq.m
Building floor areas on our website are always detailed in sq.m (square meters)
