Southern Costa Rica Real Estate: Costa Rica Rental Property

Southern Costa Rica real estate encompasses a wide array of properties that span beaches, mountains and rainforests. Some Costa Rica rental property can be found in very populated areas whereas others are in more isolated spots where a boat is required in order to go back and forth.

Southern Costa Rica real estate stretches from Dominical to the Osa Peninsula and includes Golfo Dulce (also called Sweet Gulf) and a decent sized bay that is surrounded by rivers and tons of beaches.

Leases for Costa Rica Rental Property

Most Costa Rica rental property is governed by a three-year contract. Under the Costa Rican renters law (known as Ley de Inquilinato), renting and leasing mean the same thing. An individual purchasing a piece of property must be willing to accept the terms of any rental contract that was in place before the purchase was made.

But there are exceptions when it comes to Costa Rica’s rental property agreements. There are landlords who are willing to negotiate a yearly lease or even a six-month lease. Others are willing to rent property on a month-to-month arrangement.

As far as rental property in Costa Rica is concerned, keep this handy hint in mind: making rent payments in colones (Costa Rica’s currency) instead of American dollars is a better option as the colon is valued at a much lower rate than its American counterpart and it depreciates on a regular basis.

Finding Value in Southern Costa Rica Real Estate

The prices of Southern Costa Rica real estate depend on the location of the house, condo, etc. Generally houses in rural areas are cheaper. In more highly populated or exclusive sections of the country, prices soar. This goes for renting or buying. Costa Rica rental property as a rule only covers the price of rent, not any utilities.