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Sunbelt Asia Weekly Column 22 December 2017

Sunbelt Asia Weekly Column


22 December 2017


Obtaining a lease deposit back

Question 1:
My Thai girlfriend has rented a condo in Bangkok for 3 years. She has left it in pristine condition and has always looked after it, no parties etc. She has a contract for 40,000 baht deposit in writing and would like to get it back. Ownership has changed hands 3 times and the landlord is being very tardy with coming to inspect the property and being very evasive as to refunding the deposit. She had a contract with the original owner, then another Thai man bought it and the lease was renewed or continued. Then the second man sold it to a Singaporean man who uses the 2nd owner as a go between (agent). I am not sure of the arrangement but my girlfriend has to deal with this Thai man (no. 2 owner) but the funds are paid into the Singaporean's account. My question is what can she do to reclaim these funds or is it just on his goodwill?

Sunbelt Asia Legal Advisors responds:
The outcome of obtaining the return of the lease deposit depends on the lease agreement; if the lease agreement clearly states the conditions for the return of the deposit then it is definitely not his goodwill. It does not matter if she has not signed an agreement with the new owner. What matters is what is stated in the lease agreement.

According to The Civil and Commercial Code section 569 "A contract of hire of immovable property is not extinguished by the transfer of the ownership of the property hired. The transferee is entitled to the rights and is subject to the duties of the transferor towards the hirer."

So, if her agreement does state she has the right to get her deposit back then she does have the option to sue. She can contact the Thai agent or the owner himself to transfer the deposit back to her or be sued. If this does not see any results then she may wish to consider using Sunbelt Asia Legal Advisors to send a demand letter – seeing it in writing from a lawyer often has the desired effect.




We at Sunbelt Asia would like to offer our wishes to everyone to have very happy holidays. We will be closed over the New Year, from 30 December to 2 January. We reopen on January 3 and wish you a successful and prosperous New Year!

New business registrations rose to 6,597 new businesses registered in November, a 14 percent year compared to the same period last year. The combined value of 64.46 billion baht was a 328 percent rise year on year. Real Estate companies topped the new business registrations followed by general construction and ornaments, particularly gold shops. During the first 11 months of 2017 68,212 juristic persons have been registered, up 14% from the same period in 2016. The total capital investment was 372.7 billion baht, up 74% compared to 2016. The government has already accepted 71,000 new business registrations this year and expects to hit 72,000, next year when single person business registrations will be allowed that number is expected to soar to over 75,000. Businesses that closed during the year also dropped by 1 percent and fell 4 percent year on year in November. Improvements to the new business registration process has resulted in the growing numbers, according to the Department' director-general.

Exports reached their highest level of growth in six years in November, hitting 13.4 percent growth, while exports grew 10.1 percent in the first 11 months of the year with an export value of US$217 billion. Export growth has been over 10 percent every month since May. The Commerce Ministry believes export growth for the entire year will be around 10 percent and 6-6.5 percent next year with the export value averaging US$250 billion. Rice exports hit 1.5 million tons last month and are expected to exceed 11 million tons this year; other key exports include para rubber, tapioca products, and fresh and frozen chicken. Exports to South Asia saw the highest growth, leaping 41.8 percent followed by the U.S. which grew by 20.7 percent, exports to China grew 16.9 percent and to the EU 5.3 percent.

Kasikorn Bank's research arm, K-Research, predicts the GDP will rise 4 percent in 2018, with 4.2 percent growth predicted for the first half and 3.9 percent for the second half. The research unit believes that domestic investment from the private and public sectors and the global economic recovery maintaining economic growth. Domestic investment, which was sluggish this year with a 1.8 percent growth, is expected to climb next year to 3 percent and public sector investment will grow 8 percent assuming the government sticks to the general election plans set for next year. Exports and tourism are expected to be the main drivers of growth, and while the number of tourists is expected to fall slightly, spending per person per trip is forecast to climb.

The latest land price assessment is due on January 1 but Silom road is expected to show the highest land values in the country with one million baht per square wa (four square meters), Ploenchit, Rama 1, and Ratchadamri areas came in second highest at 900,000 baht per square wa. Condo prices are expected to also rise with the rising land price assessments; the average price of condos has averaged a 9 percent rise each year for the past five years. Pathumwan and Ratchathewi saw the highest rises with 16 percent while inner city locations such as Yannawa saw a rise of 12 percent while outer Bangkok prices grew by 5 percent. Phra Khanong-Suan Luang area, Phaya Thai-Ratchadaphisek, and Thon Buri-Phetkasem saw the highest numbers of new condos added, with all three areas accounting for 58 percent of total new condos added. Demand for new condos rose 14 percent in 2017; Phra Khanong-Suan Luang, Phaya Thai-Ratchadaphisek and Pathumwan-Ratchathewi saw the highest numbers of condos sold.

Business news on Sunbelt Asia

Still available!!

Special Sunrise Tacos offer for holiday dinners



For our guests in Bangkok who would like us to prepare your hot turkey dinner we offer several packages with traditional sides and fruit pies so that you can dine at home with family and friends in Bangkok.

Call 089-887-8130 or email to [email protected]
https://www.sunrisetacos.com/turkey.html


Special offer on serviced offices extended through November!!


We are offering two types of serviced offices available at a special promotional deal

Office with space for two staff at 9,500 baht a month
Office with space for three staff at 11,000 baht a month
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Happy anniversary from all of us at Sunbelt Asia!!

A "Thank you" gift for our clients new and old!


Sunbelt Asia has been offering our excellent service to our clients for 15 years! As our 15th anniversary gift we would like to offer our professional services on retirement and marriage visa extensions at the very special reduced rate of 7,500 baht as a thank you to our clients new and old for their support over the years.

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Sunbelt Asia Legal Advisors can handle all your legal and business needs; from visas to work permits, prenuptial agreements to divorces, condo purchases and wills.

Be sure and contact our English speaking legal advisors for all your legal needs

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We at Sunbelt Asia see many of our clients regularly ask us legal questions regarding living and running a business in Thailand. To help out we have set up a FREE Expert Answers for Your Questions in Thailand Facebook page; Sunbelt Asia Facebook Expert Advice Page

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Serviced Offices for all your business needs

Sunbelt Asia is offering first class Serviced Offices in a prestigious office building in a prime location starting at 10,000 Baht. The first month is free for a six month contract! 

  • Telephone answering service (using your company name)
  • Reception/Receptionist
  • Secretarial assistance
  • Internet Connection (Broadband Internet available at certain locations)
  • Personal Computers (extra cost)
  • Free WiFi
  • Interview rooms
  • Air conditioning
  • Catering
  • Complimentary water and European coffee
  • Paperwork for you to register your address - We know the process so no need to wait 2-3 weeks for it to be processed.

Have your own three to twelve month office priced between 10,000 baht and 20,000 baht per month. The location of your new office in Bangkok is prime as it is connected to the Rama 9 Mrt Station. First month free on a six month contract! Two month deposit required.

Please contact Khun Ron at 02 - 642 02 13 or email [email protected]

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Please feel free to contact us if you are in Thailand on +662-642-0213 to discuss any of these listings.



  

Guesthouse & restaurant in popular Fisherman's Villag area of Koh Samui

This is your chance to walk into a growing business on a tropical paradise island! This clean and quiet guesthouse and restaurant in Koh Samui is located near the beach in the popular Fisherman's Village area of Bo Phut. Well-rated on Trip Advisor the business was established in 2015 and has garnered good word of mouth in that time. There are 15 rooms (air conditioned and fan rooms) both singles and doubles to cater to every guest's needs.

There is also a restaurant and bar in the guesthouse as well as laundry rooms. This is a turn key business for someone wanting to step in to a guesthouse business on the booming island of Koh Samui. The lease on the business runs until 2020 and rent is 100,000 baht a month. There are two staff with a total monthly payroll of 21,000 baht. Sales have reached 3 million baht with a profit of 1 million baht.

The owner is moving and so must sell this guesthouse in a really great location.

ASKING PRICE 7 million baht (BKK15808)

View this listing on Sunbelt Asia

Price drop on Samui bar on Chaweng Beach!

UPDATE!!! The owner has dropped the price to 1.5 million for a quick sale! Get in on this bargain in a top Samui location!

This popular long-running bar on Koh Samui is located in the heart of Chaweng and has built up a good reputation over the years it has been open. Highly rated on Trip Advisor and with great word of mouth, this bar is one of the top nightlife destinations on Samui.

This fun bar can seat 40 and is open from 7:30 p.m. to 3 a.m. There are three full time dedicated employees with monthly wages of 37,300 baht per month. Rent on this top location is 560,000 baht a year or 46,666 baht per month and the lease expires in March 2019. This busy bar saw sales between 4.5 to 5.5 million baht in the last years with a net profit of 2.5 million baht.

The owner has owned the bar for more than ten years and is ready to retire and so is selling the business. This is a truly turn-key business. Walk in and take over a thriving bar in the heart of Chaweng.

ASKING PRICE: 1.5 million baht (BKK15724)

View this listing on Sunbelt Asia

Phang Nga resort with great growth potential - includes land

Located in the popular and growing tourist destination of Phang Nga on the Andaman Coast, this resort complex is set on 44 rai of land, of which only 3 rai have seen development, making this a tremendous opportunity to grow this business.

Currently there are three buildings on the property but the opportunities for villas, hotels commercial offices or condominiums is available. The business offers accommodation and a restaurant along with adventure activities, a popular tourist activity. Hosting events such as conventions and weddings has been a major source of income along with leisure tourists.

There are 40 full time and 10 part time employees with a monthly payroll of 500,000 baht. The property includes 44 rai of chanote land not far from the airport. Annual sales have reached 20 million since its inception in 2015 and profit reached 3 million per year.

The owner wishes to retire and so is seeking to sell this development with great potential.

ASKING PRICE 375,000,000 baht (BKK15781)

View this listing on Sunbelt Asia

Profitable transportation business in Khon Kaen & Bangkok

This profitable transportation has earned a good reputation having been business for 48 years in Khon Kaen,the company has also expanded with two branches in Bangkok. The business has many repeat customers and excellent word of mouth due to its long standing role in the north East. A great team of 60 dedicated staff. The company has 17 trucks for delivery and they are included in the sale. The business saw 36 million baht in revenues last year with a profit of 13 million baht. The owner is retiring and so wishes to sell the business

ASKING PRICE: 48 million baht (BKK15662)

View this listing on Sunbelt Asia

Fully licensed English school in Bangkok suburb

A leading English school is available in Samut Sakhon, in the greater metropolitan Bangkok provinces. With a top curriculum, fully equipped school and a high enrollment of students on an annual fee basis, the school is quite successful and a leader in the area with a waiting list for students wishing to enroll. The school has an active presence on social media that has helped to promote its brand, communicate with prospective clients and public relations.

Located in a 160sqm building, there is a reception area, two large classrooms, an office, a library, a back kitchen, an outside kitchen and yard as well a bathroom on each floor. The building has ample parking in front as well as a car park on the side. Rent on the premises is 15,500 baht a month.

The school has experienced consistent growth year to year with a profit of 1,065,801 baht in its first year. Sales last year reached 2,660,766 baht with a profit 2,160,964 baht. There is one full time and one part time employee with total wages at 12.620 baht a month.

The owner is moving overseas and so is selling the business

There is a detailed outline available for potential buyers once a standard confidentiality agreement has been completed."

ASKING PRICE: 6.5 million baht (BKK15779)

View this listing on Sunbelt Asia

Well-reviewed charming Sathorn area bistro

This charming French bistro was established in 2013 and has earned a good reputation for delicious food in the hotel, office and condo filled Sathorn business area. There are 19 seats in this 35 sqm space with a very low rent of only 8,500 baht a month. There are 4 Thai employees and sales have reached around 2 million baht with a profit of around 15 percent.

The restaurant has earned good reviews on Trip Advisor with many praising the delicious food, excellent wine selection and outdoor terrace.

The owner is seeking to sell as he has invested in another business that takes up his time.

ASKING PRICE 1.2 million baht (BKK15807)

View this listing on Sunbelt Asia

Craft beer bar in busy Sathorn neighborhood

Take advantage of the hottest trend in Bangkok, craft beer is proving to be the hippest new trend and, given the growing number of craft beers available, one that will last. This popular craft beer bar was established in 2015 and has earned many good reviews and press coverage for its selection and cool atmosphere. Located in the Sathorn area, the bar is surrounded by condos and offices in a busy expat neighborhood.

The 70 sqm bar seats 50 with a monthly rent of 30,000 baht on a 3 year lease. There are three full time staff and one part -time with a total monthly payroll of 32,000 baht. The business is open 6 days a week from 5 p.m. to 2 a.m. and last year earned a net profit of 245,000 baht on 1.9 million in sales.

The owner has another business that takes up his time and so is looking to sell this one.

ASKING PRICE 1.5 million baht (BKK15794)

View this listing on Sunbelt Asia

Asoke area restaurant with booming lunch trade

Located just off Asoke Montri Road and near Terminal 21, Health Land and many office buildings and hotels, this restaurant is on the ground floor of a hotel and has a booming lunch trade and is very popular with the locals in the area as well as tourists.

The restaurant can seat 85 people comfortabley and a classically decorated private ventilated cigar room or VIP room. There are 7 full time staff with excellent team work, and food and beverage contracts with the hotel in the same building or provide breakfast service and room service offering a guaranteed income every month.

There is a cool room which stores wine and beer kegs, new kitchen equipment in cluding charcoal grill, wok stove, oven, deep fryers, cooker, refrigerators and freezers included in the sale price. Rent on the 280 sqm space runs 155,000 a month with no key money. The lease runs until 2022 with a fixed rate. All construction maintenance is supplied and paid for by the hotel above. The website, email, Instagram, Facebook page (15k followers) are all included in the sale.

Total income is around 400,000 - 500,000 baht a month but can go higher with an owner with more time to spare for the business. The owner doesn't have time to manage the business and so is looking to sell the business.

ASKING PRICE 3.3 million baht (BKK15802)

View this listing on Sunbelt Asia

Sunrise Tacos Franchise

Interested in joining the most successful and popular Mexican restaurant franchise in Thailand? Sunrise Tacos is seeking qualified franchisees to join us in our commitment to quality and healthy, delicious food. Are you experienced in hospitality or business management but want to strike out on your own? Sunrise Tacos is seeking franchisees fully committed to the Sunrise Tacos way; with a hands on approach to running the business and experience in hospitality or business management. The leadership at Sunrise Tacos prides itself on maintaining a close and personal relationship with each of our franchisees and looks at franchising as a long-term business partnership. We are committed to our franchise partners and helping them grow.

With the opening of the ASEAN Economic Community at the end of this year we at Sunrise Tacos see the potential for growth in the region. If you want to be a part of that potential let us know! We already have a branch in Phnom Penh and have added more around Thailand, including our new franchise in Chiang Mai, and are seeking committed, enthusiastic business minded people to join us. Contact [email protected] for more information.




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