Just signed a 1 year contract for a condo in BKK (moved in 01 May 2022).
The building agent has now started showing people round telling me the owner wants to sell!!!!
I have read the contract and it clearly states it can only be terminated if I break the rules of the contract!!
Where do I stand on this legally? Can the owner just sell and kick me out?
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TLDR : Answer Summary
In Thailand, when you sign a lease for a condo, it creates a legally binding agreement that protects your right to occupy the unit. The owner can sell the property, but they must honor existing leases. Prospective buyers will be informed that the unit has a tenant and typically must adhere to the terms of your lease until its expiration. If the new owner does not wish to continue the tenancy, they can negotiate the terms before your lease ends. However, they cannot forcibly evict you without cause as outlined in your contract.
It is very unlikely a new owner would change the purpose of the building. If it is a new development they are always sold within a few years after they are finished, so the builder can get their money back, and a profit, then build again. Newer condo buildings are flipped all the time. The only thing that might happen is your rent goes up next year. Depending on what type of visa/extension you are on, you might need new documents showing the building owner, with a copy of their Thai ID and house book listing they are in. At the extreme the new owner can refuse to renew your lease. That is usually how it is done when they have other plans for a building.
Quite a lot of places are on sale “with tenant” here in thailand. As people said it is investment. Buyers know there is someone living at the moment and happy for promised rent. Most likely you will not be kicked out. But you need to show your room to buyers when they want viewing.
This is happening quite a bit at the moment, as buyers are returning. You have a legally binding lease. Chances are he won't sell quickly. If he does, the new owner will inherit your lease. If the new owner wants vacant posession, negotiate with the landlord for 3 months free rent. You should have no difficulty finding another condo.
Condos can be sold with tenants there (with tenant). It’s an investment. They have to follow the same tenancy agreement then once the contract ends they can do whatever they want. Has investment benefits over buying an empty unit to lease. It’s more valuable if there’s already a tenant there leasing it.
Usually the contract will say something like you have to give reasonable access to the landlord to show the place to potential buyers, but he would also stipulate to those buyers that the unit comes with a tenant for the next x months, and they would honor that (but might or might not renew your lease).
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