Thai Government Updates Rental Business Regulations: Key Changes for Residential Leases
With more people choosing to live in condos and apartments in Thailand, the government has introduced updated rules for rental businesses. These changes, brought into effect by the Consumer Protection Board in 2024, aim to make rental agreements clearer and fairer for both tenants and landlords. The new regulations are known as the “Stipulation of Residential Property Leasing as a Contract-Controlled Business B.E. 2567 (2024).” What’s New in the 2024 Regulations? The updated rules apply to property owners or companies that rent out five or more residential units, excluding dormitories and hotels, which follow different regulations. Below are the key updates in the 2024 rental regulations: Lease Agreements Must Be Transparent: Rental contracts must still be provided in Thai, and the law requires that they include more detailed information to ensure fairness to tenants. Any clauses that give the landlord the right to terminate the lease must be highlighted, making them easy to spot. Up