Supplemental contracts in a lease
As foreigners are not permitted to own land in Thailand the standard contract under which real estate is 'sold' to foreigners is a lease. Residential leasehold housing and apartment projects in the tourist areas often include service and maintenance agreements as an integral part of the lease. Services delivered and the annual price increases are often determined by the developer and as these contracts are an ongoing financial burden it is important to undertand the importance of these contracts before accepting the lease.