Costa Rica Expertise LLC
Archives for: April 2008, 07
04/07/08
01:51:52 pm, Categories: Costa Rica's Legal System, Property and Real Estate, Rental Properties, Property Protection, Condominiums, Consumer Protection, Living in Costa Rica, 1109 words Expat landlords need to know the rules of the game
Lack of knowledge leads to fears
By Garland M. Baker
Special to A.M. Costa Rica
Expats in Costa Rica who rent to others need to know the law and the important exceptions. Property owners also need to know that the law is not the same for all kinds of property. Many expats prefer not to rent to Costa Ricans because they fear the local rental law due to their lack of knowledge or language ability.
On the coast, expats rent very short term — daily, weekly, and occasionally monthly — to vacationers coming to the country. Usually, they collect their rental fees in their home country or online over the Internet. Some do not declare the money they collect here nor elsewhere. This scenario is a nice source of income for many and for those who do not report the income, tax-free money — at least tax-free until they are caught.
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Costa Rica Expertise LLC
This web site contains articles written by Garland M. Baker and Lic. Allan Garro for the A.M. Costa Rica. These articles contain important information that everyone doing business—personal and corporate—in Costa Rica ought to know. Reach them at [email protected]
A Complimentary Reprint is available at the end of each article.
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