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Can I Rent Property in Costa Rica?

Posted by admin on September 2, 2013
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for-rentThe answer to that question is “yes,” although you may have different procedures to follow depending on whether or not you plan on a short term or long term rental. Property rentals are usually the right decision if you are moving to the area temporarily, such as for a work assignment, or if you plan to rent a property until you have the resources to buy one for yourself. The key to getting the right rental terms and agreements will be working with the right brokers in the area of Costa Rica you plan to stay in.

There are three common types of rentals in Costa Rica:

Short term or seasonal beach property rental
Short term business rentals
Long term residential rentals.

The prices, and procedures, of renting properties in each case is different. In most cases, you will have to pay a safety deposit, just as you would with a rental anywhere else. Short term rentals may have a one time deposit for multiple stays, depending on the terms and conditions of the property owner. Short term business rental security deposits are typically arranged through your company, but are most likely to be paid well in advance of your stay. Long term safety deposits are handled normally; they are given when the lease is signed, and then returned once the property is inspected and the tenant has left the property.

Rental Guides and Opportunities

If you are not familiar with the Costa Rican region, there are realtors that specialize in working with foreigners who want to rent property. Short term beach property rentals, for example, are typically handled through businesses that specialize in beach property and vacation packages. Commercial and business rentals, whether short or long term, are also handled through specialty real estate services.

Long term rentals are managed by the more general realtors of the area, but they still have the experience needed to provide you with advice and guidance on finding and renting the right property. Realtors in every category have realized that it’s easier to promote properties that have a web presence, so performing an online search of available properties in your Costa Rican city of choice is a good way to find rental properties that are available.

Once you find a property that you like, contact the realtor that is associated with it. He or she can walk you through each step of the process, from arranging for your security deposit and credit check, to helping you to understand the terms of a long term stay in Costa Rica. You may need to file for residency status with the Costa Rican Department of Immigration. Again, your realtor should be familiar with these procedures, and should be able to point you into the right direction so that you can file for resident status. This status is only a requirement if you plan to stay for longer than a period of 30 to 90 days, as those lengths fall under Visa requirements.