New rules for landlords with 5 or more properties
The Thai government has instituted new regulations for property owners leasing five or more residential properties; landlords with five or more residential properties will now fall under the Consumer Protection Bureau’s definition of a contract controlled business and the new regulations will take effect May 1, 2018. The new regulations prevent landlords from charging more for basic utilities than they cost, they can ask for only month rent in advance and the cost of one month rent for the security deposit. Many properties currently ask for two months for the security and one month advance rent. Landlords are also not allowed to charge for normal wear and tear usage, and must return the deposit within seven days after inspection. They are not allowed to inspect the property without advance written notice. The lessee is now allowed to give 30 days advance written notice of termination of the contract and is no longer required to finish the contract entirely. Read more about these new regulations here
on Sunbelt Asia.
A working group discussed ways to regulate and protect consumers using and trading in crypto-currencies. Crypto-currencies will not fall under SEC supervision but will fall under regulations governing securities issuance, which requires underlying assets or service and Know Your Customer (KYC) rules. These will be applied to the coming framework governing cryptocurrencies in an effort to protect investors. Trading in crypto-currencies will also have to fall under the KYC rules. The new regulatory framework should take shape this month and will also cover standards for information disclosure and transaction reporting as well as system security, transaction objectives and utilization of proceeds arising from initial coin offerings (ICOs).
AirAsia Thailand is launching a new direct flight from Hua Hin to Kuala Lumpur in Malaysia starting May 18. The new route will offer four direct flights a week and marks the airline’s seventh direct route from Thailand to Malaysia. The airline also flies direct from Malaysia to Bangkok, Phuket, Krabi, Hat Yai, Chiang Mai and Pattaya for a total of 165 flights a week. Bangkok Airways is also expanding direct international flights, with a new route from Chiang Mai to Hanoi starting March 25 and an expected fourth quarter launch of Phuket – Yangon. The airline is also increasing frequency on its Bangkok – Phuket route, as well as Bangkok – Vientiane, and Bangkok – Mandalay. ThaiVietJet has launched a new Bangkok – Krabi route starting April 5, this will be the airline’s fourth domestic destination after Chiang Mai, Chiang Rai, and Krabi.