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HI
Can anyone direct me to a web or two that dicusses the home and vacation rental situation in CR
We are thinking of buying in CR and maybe renting our abode when we are not here.
We have been trying to find info. such as what rents or what is it that tourists seek in vacation rental propery.
I have tried various sites, gov’t and other wise, but the objectivity of them seem to be somewhat biased to say the least, buy drawing a picture of a landlord heaven in CR where, if you have a place, renting it bimonthly or whatever, is a snap.
That seems to go against the grain from what I have read. There seems to be a lot more vaccancies then not. in other words lots to rent but no takers.
If anyone knows of some webs that can discusse this situation objectively,(facts and figures) I would very much like to hear from you.
ThanksI think we need to be a little realistic here Bob, no? As I know from personal experience, objectivity does not pay the bills…
As an example, doing the right thing and warning people about investment and real estate scams in Costa Rica for about five years (before they blew up) didn’t make me a penny, it made me a target!
See more at [ https://www.welovecostarica.com/public/Costa_Rica_Scams__Doing_the_right_thing.cfm ]
It cost me tens of thousands of dollars in legal fees (I was in court again finalizing a case last Thursday – more on that to come) and literally MONTHS and MONTHS of my time so, why on earth would someone – who’s not a complete lunatic like me – waste his time being objective when he could focus his time and energy trying to make a sale of a vacation rental?
Short-term vacation rentals are much tougher on the property and on you the owner than long term, more stable executive type rentals in a more business-like setting but, some people prefer the idea of having a home in a vacation type location that brings in some income.
I’ll continue to try and do what I think is best for our VIP Members so I guess I’ll never learn…
By all means, talk to people, visit websites and please do your own ‘on-the-ground’ research! Come visit Costa Rica and take a good, hard look around the areas you are interested in and then make a decision.
Scott
Thanks for advice Scott.
We are on our way in July just as we have planned to do for the last 2 yrs.
Can’t tell you how many webs we have visited read and researched.
We love costa rica web has been a load of help in every way and we thank you for your and other great bloggers insites.
We have narrowed down the type of property that we will purchase to a very few questions, one being to invest and rent or invest and not to rent.
Really is tough getting half accurate stats anywhere. Just thought that some of the great bloggers on this forum have asked the questions and found some tid bits of info they would like to pass along, just like you did just now Scott. Thanks againOne thing I should have added Scott, is big thanks for all the great people you put us in touch with. All top of the line!
Hey Bob: We live in Atenas and there are at least two property managers here that we know who are great. We originally dealt with them before we bought this house and also have heard many say that they give excellent service. They are both expats. I am guessing that they would give you frank information about their occupancy rates, etc.
Rentals in Atenas are hard(er) to come by and rental rates are higher that many other places in the Central Valley. Both of these managers keep their clients properties pretty rented. PM me if you would like to have their contact info and I can give you more details!! Sue
I would add that vacation rentals here are highly location specific, so it’s critical to study the area you are considering purchasing in. Sue is on the right track – you would be well advised to get advice from local property managers in the area(s) you are thinking of buying in – many of whom also sell real estate. If I were buying an existing property as a rental, I’d ask for proof of rental income & expenses on the property you are considering purchasing as a normal due diligence item prior to making an offer.
Look at Craigslist, and see how rentals are listed.
Many sit empty for months, only rented at peak holiday periods when you may want to use it yourself.
And I definitely agree with the previous poster saying “…[i]I’d ask for proof of rental income & expenses on the property you are considering purchasing as a normal due diligence item prior to making an offer”.[/i]
If it is a beach property, you must take into consideration the high cost of using A/C.[quote=”costaricafinca”]Look at Craigslist, and see how rentals are listed.
Many sit empty for months, only rented at peak holiday periods when you may want to use it yourself.
And I definitely agree with the previous poster saying “…[i]I’d ask for proof of rental income & expenses on the property you are considering purchasing as a normal due diligence item prior to making an offer”.[/i]
If it is a beach property, you must take into consideration the high cost of using A/C.[/quote]Thanks for reply
A/C expense seems to keep rearing its ugly head. Some say near any beach, east west north or south, A/C is a necessity. Others say it all depends what specific location you are talking about,
One thing we have noticed is the difference in house structure between east and west coasts.
On the eastern seaboard the houses are very much more open, with larger windows and open spaces(large outside living areas ie sundecks) Very medditerenian looking.
On the west coast,the abodes seem to be much more confined. Smaller windows, doors. Houses seem to be much more “cut up” into cubed living spaces, a la north, North American.
If I am correct in this observation, does that mean the west coast is a little more humid then east coast? Or vise versa. Does that mean in west coast houseing, A/C is much more of a necessity then east coast?Many more tourists, with more money to spend go to the Pacific coast beaches. It is hot & humid so they want A/C, so count on that costing $500 per month, at least!
Backpackers are more likely to go to the Caribbean side, and they are looking for low cost places to stay, often a hostel… but A/C is still what many insist on in a rental. Certain parts of this area get flooded in the rainy season, very year….
Both coasts are totally different from each another.
Personally, I don’t like A/C but we are in the interior so the need for it, is less, although our neighbors in a medium sized house, spend at least $500 per month for electricity, because they do run an A/C. This does not include a pool, hot water, or stove.
[i]Before you decide to purchase any property[/i][b][/b], visit for an extended time in the area [i]you think will suit your needs[/i].
Also take into consideration the cost of your manager and if an isolated location, a caretaker, to make sure your home is protected from thieves as an empty home is a prime target.
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