Short Term vs. Long-Term Rentals in Atenas
Wondering whether you should consider short- or long-term rentals in Atenas, Costa Rica? Let our professionals at RE/MAX Best Climate help!
Short-Term Rentals in Atenas
In the case of short-term rentals, it is important to remember that hotels, bed and breakfasts, hostels, and vacation houses that accommodate stays of one to 30 days are expressly exempt from the terms of Law 7527. Short-term rental agreements, which are frequently marketed on real estate, holiday rental, VRBO, and “For Rent by Owner” platforms, are subject to specific stipulations.
Reservations for short-term rentals facilitated by hotels or bed & breakfasts typically require a credit card transaction. In contrast, when engaging in vacation rentals or “For Rent by Owner” arrangements, a security deposit may be required, which may be forfeited in the event of a no-show or property damage.
The phenomenon of “snowbirds,” or people who migrate from colder climates to warmer climates throughout the winter, is common in Costa Rica, particularly in areas such as Atenas and Grecia. Such arrangements are classified as short-term rentals due to the transient nature of their residence, which typically lasts one to six months.
Long-Term Rentals in Atenas
Long-term rentals, on the other hand, are required by Article 70 of Law 7527 to be for a minimum of three years, though alternative terms may be negotiated. Lease agreements typically include renewal options, which are typically stated as one year initially, renewable for an additional two years. In practice, security deposits are normally non-refundable if the tenant vacates before the end of the first year, unless otherwise specified in the lease agreement.
Long-term rental security deposits are normally one month’s rent, with additional deposits for pet owners. These deposits are intended to pay damages and ensure lease compliance. Landlords normally reimburse security deposits within 30 days following tenant departure, allowing for utility bill reconciliation and property inventory. Premature lease termination normally results in the loss of the security deposit, unless specifically specified in the agreement.
Navigating the Process with a RE/MAX Certified Real Estate Specialist
RE/MAX Best Climate is a useful ally in navigating the complexities of property leasing in Costa Rica, particularly in the gorgeous surroundings of Atenas. RE/MAX Best Climate agents specialize in the local market and will assist you in your search for appropriate long-term rentals in Atenas.
The seasoned professionals at RE/MAX Best Climate are competent at handling the intricacies of the “General Law of Urban and Suburban Renting” (Law No. 7527) for individuals pondering the legal complexity of lease agreements. Their thorough awareness of local regulations guarantees that your lease arrangements comply with all regulatory requirements.
RE/MAX Best Climate acts as a liaison between landlords and tenants, smoothing negotiations and ensuring that lease agreements are tailored to individual needs. Our professional advice includes knowledge of standard lease terms, security deposit requirements, and any special circumstances that may emerge.
Furthermore, for those looking for quick and easy searches, RE/MAX Best Climate’s network and resources make the process easier. Whether you are a ‘snowbird’ looking for a short-term respite or a long-term rental in Atenas, our dedication to client satisfaction is unshakable.
Using RE/MAX Best Climate goes beyond simple property transactions; it develops a partnership based on experience, ethics, and customized service. Trust RE/MAX Best Climate to be your guide as you embark on your path to secure a long-term rental in Atenas.
