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I watched an interesting interview yesterday morning on local channel 7 about rental contracts, tenants and eviction. I didn’t realize that tenants have so many rights and it is so difficult and expensive for an owner to legally evict a tenant who hasn’t paid any rent for 6 months. Best advice given; have a written contract, know your tenant, know the neighbors and visit the property frequently. They also discussed the annual increases in rent allowed under Costa Rican laws. The lawyer and real estate broker took some phone calls from viewers and some of these owners described some really nightmarish situations. However I have heard stories about abuses by owners also, like not fixing things like water heaters and roof leaks.
As a property owner with low cash flow from tourists, I ask myself why not rent long-term locally.
Posts like this are what keep me renting only by the week or month to tourists.[i]”Best advice given; have a written contract, know your tenant, know the neighbors and visit the property frequently”[/i].
In regards to ‘know your tenant,’ can I ask how many ‘owners’ will have met a prospective tenant before renting out their property? Does an English speaking/ex-pat tenant insure more trust? It shouldn’t.
And from what I have heard from others, a written contract is no guarantee.
Just insist on a decent security deposit, and hope this covers costs the expenses occurred if there are damages or potential loss, if you can’t get them out.
But, do ‘visit’ the property as often as possible.The abuse is often from the landlord but also from the tenant…
You haven’t see my Psycho tenant articles?
[ https://www.welovecostarica.com/members/Costa_Rica_Rental_Properties__The_Psycho_Tenant.cfm ]
To evict a tenant ‘by the book’ can take a very long time.
We have a hearing in mid-June when I will update the articles…
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