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Renting a house in Costa Rica

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Renting a house abroad can become a challenge for an expat, so here are some key notes about real estate rental procedures in Costa Rica.

It is essential to oversee all the rental details in the contract so that the proprietor gets guarantees of on-time monthly payments, and the tenant gets its insurance against an unexpected increase. Do remember to include all personal data and other crucial details, i.e. names, age, rental fee, terms of payment, currency etc. 

Other details to be included into contract concern:
•    security deposit (if available), which usually equivalents 1-2 monthly payments;
•    address of the parties where they shall receive notifications;
•    specify, who is responsible for utility payments, either a property owner or a tenant.

Moreover, according to the Law of Urban and Suburban Leases, the agreement must include the extract from the National Registry, as well as the destination of a real estate facility (in this case, residential). Note, that the residential rental contract can’t be signed for less than 3 years. Of course, both tenant and proprietor can terminate the contract in case of violations from the other party. In such case, a party must notify in advance, at least 90 days prior to the termination.

Complying with the legislation and including all vital details in the rental agreement ensures a secure and advantageous residing in Costa Rica. 

Source: thecostaricanews.com

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