Mr Surasith said the law also set the standard for contracts and clarified that developers were responsible for the monthly common-area fees for unsold units.
If a unit holders fail to pay the fees, the juristic person can charge maximum interest per of 12% per year for one month overdue and up to 20% for payments that are six months overdue.
Regarding voting rights for the juristic person, any representative can vote on behalf of a maximum of three units. Developers must also provide an office for the juristic person.
Mr Surasith said there was concern that the new requirements did not cover projects that already had construction permits, especially with respect to the rule that developers had to create a different entrance for shops in condominium buildings in order not to disturb residents.
The new law also requires developers to specify exits from the project site to the main road.
Therefore, developers who already hold construction permits for designs that do not address the new requirement could have difficulty when they complete the building and register the establishment of a juristic person
