Property Rental

      Property Rental Agreement is an agreement done by “Renter” and “Rentee” in order to use or get benefit in property during specific period of time.Rentee agree to pay a rent for that defined benefit.The renter and rentee are creditor and borrower of each other.It means that rentee has right to use and gaining benefit from the property but he can’t have ownership.The rentee has to pay a rent that property(normally paid by money but it’s not necessary because it’s not stated in law: it can be food, medicine or etc.). For example,renting a house,rentee has right to live in the house.No matter how long he has stayed,he can’t have the ownership over that place but he monthly pays 5,000 baht for rental fees.

      It’d better to have written document showing property rental due to real estate law because it will be important evience when you have to be on court.An example of the document is such as receipt of rental payment.

      Property Rental Agreement is divided into 2 categories.Firstly,renting less than 3 years,you have to make a signed contract.Secondly,to rent a place for over 3 years whether until the end of renter’s life or rentee’s,the law defines the condition of the written document to be more complicated than the first type because it must be in paper and signed in the present of the official in order to use on court.