Perhaps you had an extended vacation in Costa Rica last year and you think you’re ready to make a move. You’ve traveled to numerous areas around the country and have narrowed your choices down to three or four areas.
If you are sure of your ultimate choice, by all means make an effort to buy it. Real Estate prices in many communities have stabilized and are probably at their optimum right now. Yes, it’s a buyers market, but if you unsure of your choice, there is a multitude of rental properties on the market.
The variety of rentals available in the Central Valley is staggering; from convenient aparthotels, a modest two bedroom home or a luxury high rise penthouse to a 10,000 square foot mansion. By renting you can test out the neighbourhood based on your criteria and measure its pros and cons. If you prefer to live outside of the Central Valley, you’ll find the prices less depending on the area. The same applies to a commercial rental and an informed agent can assist you in narrowing down your choices.
Rentals can be paid in dollars or colones (Costa Rica’s currency), usually at the owners discretion. There is a Landlord-Tenant Law 7527 which regulates all elements of the relationship between the property owner and the tenant. Although property rental laws favour the tenant, be sure to review your lease contract carefully If the rental is in colones, there is an automatic annual increase but cannot be higher than 15% of the fixed rent. If it is in dollars, no yearly increase is allowed unless it is called for in the rental agreement. Best practice would be to have a lawyer peruse the contract to make sure it is in compliance with the law.
We have the experience, the knowledge and the network that can help you with all the aspects of finding the right rental in the area that suits your needs.