Can Foreign Owners Rent Out or Resell Their Units?

Generally, yes.  Foreign owners can rent out or resell their condominium units, subject to Thai law and applicable condominium regulations.

However:

• Short-term rentals: Daily rentals may be unlawful without the required legel authorisation.  Foreign owners should check the applicable accommodation and building regulations before offering a unit for short stays.  They should also review the condominium's rules, as restrictions may apply to rental arrangements and the use of common facilities.
• Rental income: May be subject to Thai taxation.  Owners should keep records of rental income and relevant expenses and check their tax obligations under the applicable rules.  If a property management company or agent handles the rental, owners should also understand the management fees and the responsibilities set out in their agreement.
• Reselling to foreigners: The foreign ownership quota must remain within the legal limit.  Before agreeing to sell to another foreign buyer, the parties should confirm that the condominium has sufficient foreign ownership quota availalble and that the buyer meets the applicable requirements for foreign ownership.
• Selling costs: Check applicable taxes, transfer fees, and documentation requirements before the sale.  The final costs may depend on the transaction details and the seller's circumstances.  Owners should obtain an estimate of the relevant expenses and prepare the necessary ownership and transaction documents before arranging the transfer.

Additional Considerations

Foreign owners who intend to rent out their units should consider the likely rental demand, ongoing maintenance expenses, periods when the unit may be vacant, and any property management fees.  These costs can affect the net rental return.

For example, an owner may expect to receive a fixed monthly rent, but the actual return will be lower after deducting common area fees, repairs, management charges, taxes and other applicable expenses.  Reviewing these costs in advance can help owners make more informed investment decisions.

Owners planning to resell should also consider the unit's condition, current market conditions and the time needed to find a suitable buyer.  Keeping purchase records and relevant payment documents can help make the resale process more organised.