Renting a house in Costa Rica should be a simple and easy process but before you decide to either rent your home or rent a home in Costa Rica, they are a few basic guidelines that you should follow. By following these guidelines, it will enable you to have peace of mind as a homeowner or a renter in Costa Rica.
All home owners that are renting their property in Costa Rica, simply wish that their renter will take good care of their house, pay on time and comply with the basic rules of good living.
On the other hand, you have the renters who simply want to have a clean and secure place to live and have the owner give them their privacy as long as they pay the bills on time and respect the home.
In order to achieve these goals, a rental agreement has to be done carefully and all parties involved must understand what is expected of them within the laws in Costa Rica.
All lawyers who specialize in Costa Rica real estate agree that they are three aspects involved when it comes to renting a home: The monthly rental price, the payment of public utility services and the currency that will be used for the monthly payments.
When you are negotiation the rental contract, one item that is often overlooked is the payment of utility bills. If there is not an agreement on who pays theses bills, the person who rents the house should take care to pay all of these monthly bills excluding the water bill which the homeowner/landlord has to pay according to the laws in Costa Rica.
For the currency, even if the agreement is made to pay in U.S. Dollars or any other foreign currency, the renter is still entitled to pay in colones at the sale exchange rate established by the Banco Central de Costa Rica valid the date the payment is done.
Here are some general recommendations for homeowners who decide to rent their home:
- Always do a background check on potential tenants by asking for reference of previous home owners that he has rented from. In addition, make sure he has a current job and for how long he has been working. If the potential tenant does not have a job, make sure that he has some kind of proof of monthly income. This will help you determine how stable is the person who wants to rent your property.
- Establish from the beginning which utility bills will be paid by you and which will be paid by the tenant.
- Established the monthly rental prices with the tenant and when it should be paid.
- Visit the house periodically to check the conditions.
- If you include furniture on the home, take photos of them before renting the house. This way you can check if the furniture has any damage while the house is rented.
As a renter, let’ say that you found this great 3 bedroom home in Escazu, Costa Rica:
Monthly Rental Price: $950
Number of Bedrooms: 3
Number of Bathrooms: 2.5
Monthly Maintenance Fee: included
Living Space: 150 square meter
Cod. 546 is a beautiful three bedroom home in Escazu Costa Rica that is located on a private street. It has many amenities which include 24 hour security, a balcony, laundry area and much more.
This is an excellent deal for a three bedroom home in Escazu and as a renter you would be within your rights to demand for the landlord to fix any problems with the house. In addition, here are some general recommendations for someone who decide to rent their home:
- Before you rent, check the conditions of the house and take pictures of any damages before you rent the home.
- Make sure the house does not have any legal disputes.
- If you intended on living in that house for over a year, be aware that for contracts in colones the rental annual increase is based on the inflation as per a new Law established.
- Talk to the home owner about which utility bills are included in the monthly rental and which utility bill you will be responsible for.
- Make sure to know under what terms the deposit is fully refunded.