Q: What are the costs associated with the lease/freehold registration?
A: These are outlined below:
• Leasehold Land
Lease registration fees and stamp duty (currently 1.1% of the rental or lease premium) is payable to the Land Department upon registration of the lease.
• Freehold Buildings
The freehold registration fee (2% of the appraisal price of the building) is payable to the Land department upon transfer and registration of ownership of the buildings. The appraisal price is calculated relative to the government’s tax assessment value. Other applicable taxes upon transfer and registration of ownership of the freehold buildings are:
o Corporate Income Tax
(Currently 1.0% of the selling price or appraisal price, whichever is higher)
o Special Business Tax
(Currently 3.3% of the selling price or appraisal price, whichever is higher)
The burden between the seller and the purchaser for the above costs will be specified in the Lease and/or Sale & Purchase Agreements.
Q: How long does construction take?
A: Generally, it will take approximately twelve months to complete construction of the townhomes and villas.
Q: Is a warranty period offered?
A: Yes, a one-year construction warranty period is offered from the date of completion of construction.
Q: What is included in the property?
A: Basic fit-out option includes flooring, walls, sanitary ware, kitchen cabinet and worktop, sink, air conditioning. Fitted option includes fixed furnishings (wardrobes, kitchen cabinets and built-in kitchen appliances, etc.) Furnished option includes loose furniture and amenities (beds, sofa, dining table and chairs, curtains, etc.)
Q: Is Customization of building allowed?
A: No, the building must be built in accordance with the building code and permits as issued by relevant authorities so no changes to the external areas or structural items are permitted.
Is there a rental program available?
Yes, Chao Wilai can provide an optional rental program for individual owners. A market-rate commission will be charged based upon the rental value. We also provide services to support house rentals including a maintenance, housekeeping , and guest reception program. For further assistance in other area, please feel free to contact us and we will help you find a solution!
What are the taxes levied on rental income ?
Owners may be required to file an income tax in Thailand based upon rental income earned and pay the applicable tax. Rental distributions made to owners may be subject to withholding tax under the Thai Revenue Code with rates ranging from five to fifteen percent, subject to owners’ tax structure status.
Can I rent my unit out on my own?
Yes, owners may rent out their property on a long-term basis (six months or more) directly or through external agents.
For short-term rentals of less than six months, these must be conducted exclusively through Chao Wilai who provides owners with the ability to generate a rental income from their property when not in residence with short-term and long-term rentals.
What is the full service property management program?
We are constantly working to improve our offerings and expand upon our technological capabilities. Our expert team of professionals is ready to assist you. We provide housekeeping services - including daily turnovers; a full maintenance team; and a reception service for your rental needs. Please inquire within for rates and availability
Q: What infrastructure and common facilities are provided and who will manage these?
A: The infrastructure and common facilities incudes roads and drainage, lighting, landscape areas, swimming pools, deck areas and water and electricity supplies, Services shall include 24hrs onsite security, garbage collection, cleaning and maintenance of infrastructure and common facilities or any other services as required for the common use or benefit of owners. In addition, owners will be entitled to access certain amenities. The neighborhood management shall be Chao Wilai.