rentals

tips and hints

In Mazatlán there are two types of rental homes: the short-term seasonal rental and the long term rental.

The seasonal rentals cater to the winter tourist population and are usually fully furnished homes or condos with the conveniences one would expect. The properties are well maintained and may include everything from daily maid service to golf discounts. This type of rental is priced according to what the vacationer will pay. Depending on the size and location of the property you would expect to pay at least 50 dollars a day or more. There are many short-term rental properties listed on the internet.

On the other hand, finding a decent, reasonably priced long-term rental can be quite a challenge. The best time of year to look for a full time rental is just after the Easter vacations. The best place to look is in the classified section of the local newspapers. Also, call all the realtors in town and ask for help. Be very specific about what you need: Furnished or unfurnished, size, location and price range as well as other important details such as children and pets.

Once you have found a suitable property it is very important to have a rental agreement in Spanish. This agreement should include the following information:

• The term of the rental
• The price
• When, where and in what form this amount will be paid
• What this price will include
• A description of the owners responsibilities
• A description of the renters responsibilities

In the U.S. and Canada we assume that the landlord has the obligation to fix problems and give continuous maintenance to the property. In Mexico, this is not the case. Once you move in, you take full responsibility for the property. Therefore, it is very important to clarify this point in your rental agreement. Mexican laws strongly favour the tenant in respect to occupancy but do not place a lot of importance on the physical condition of the property.

The advantages of renting vs buying is the opportunity to experience living in a certain area without having a big commitment. The disadvantages are:

You may end up investing your money in someone else's property to get it to a standard you want. This is very important to consider because as mentioned above, landlords do not have the same obligation to their tenants as in the U.S. and Canada. The other obvious disadvantage is that rental money is never recuperated.

On the other hand, buying can be an investment. Money spent carefully on improvements should be recovered when you sell. You can also rent out the property at the times of the year you don't need it.

Whether you rent or buy it's important to get all the facts before you make a decision. In both cases you need to know your costs and obligations. Look at both options.

For information on current rental listings or for property management please contact us:
(011) 52.669.983.0011 (011) 52.669.983.5077