New Thailand rental regulation is tenant-friendly, but not for a property owner
On May 1st, 2018 Thailand announced the new regulation regarding rental issues, which is not favorable to landlords who own 5 properties or more (house, apartment or condominium).
On the contrary, this is good news to tenants, with the most significant change being that landlords can now only request a maximum of 1 months rent in advance. Additionally, now the property owner does not have the right to collect a security guarantee, and the tenant can now cease the rental agreement at any time with just a 30-days notice to the property owner.
This regulation is not applied with hotel and dormitory, for these 2 types, they have to specify the exact payment timeframe and also more depth in the detail.
In summary these changes should give a boost to the rental market as the upfront costs have reduced considerably for the tenant, but from the owners’ perspective there is definitely an inherent increase in risk.