renting out house

[dano99]

Hi,
New to this site. I have built a house in Thailand. I am American married to Thai woman and live in the USA. The house is now completed and we already have a family wanting to rent it.
The land is under my wifes name and the house is under my name by way of a Chanote.
Due to what i read i will have to pay Tax in Thailand and also here in the USA for this each year. not a problem but is there any suggestions on how to receive money from Tenant ?
Should i open a Bank account in Thailand and have them send directly to that? There are also Wifes relatives that could collect the money but i think i would need some kind of record or account since basically the house is mine and i will have to pay the Tax on it.
Any suggestions?
Would love to hear.
House just finished yesterday and already have a Renter.
Thank you

[AjarnK]

That is certainly possible.

I have my Internet account to do money transfer for about seven years.
You can open such an account and watch your money in and out, and even transfer to other bank accounts of your own, or someone else. I am not sure if you can pay tax by transferring your money by doing it all over the Internet account.

If your tenants are good at English, they can pay you through PayPal.

: )

[Affinity One]

Dano99
Yes, the most convenient way is to open a Thai bank a/c here and let the tenents pay in. Cheaper for them as well. Don't let others (relatives or not) do it since it is cash you are talking about. Well it is always tempting, if you know what I mean!!!
Most big banks now offer internet banking that you can log in and do the transfer as you like. or keep the fund here as I'm sure you will be coming in and out of Thailand quite frequently, you can withdraw and spend that here and save on the exchange rates and bank charges!!
Hope that helps
Affinity One