Part 3 - Finding a Good Deal on Rentals in Cancun and Riviera Maya
In our final installment of finding a good deal on rentals in Cancun and Riviera Maya, we share some general information about renting property in Mexico.
Apartments and houses
The most common types of housing found in the area are 3 floor apartment buildings which have one household per floor, and for this you should be looking at between $350 and $500 USD per month. Realistically, however, you’ll find the prices can vary from $250 to $1000 USD per month depending on the area, season and your negotiation skills.
A few important things to know.
Just like anywhere else, in Mexico landlords want some security and protection should the arrangement go south. Here’s how they get this security and peace of mind in Mexico:
- Contractual agreements; most landlords will insist on having a formal contract which details the terms of your tenancy, who is responsible for what expenses and duties, and which is drafted by a notary. This notary will generally be paid by you and will cost around $1500 to $2000 MXN (which is $87 - $116 USD). This will give both you and the landlord protection, however, and is a good idea.
- Security deposit; landlords will often ask for a deposit which amounts to 1 or 1.5 months rent. This is because you will not be asked to leave a deposit before you are connected to electric and phone services so if you skip out they get stuck with the bill!
-
Basically these precautions just set out who is responsible for what, ensure that the landlord has legal footing to evict unruly or troublesome tenants, gives them some financial security should things go wrong, and of course it lays out what you can expect and what is expected of you. Simple!
Click here for Part 1 or Part 2 : Finding a Good Deal on Rentals in Cancun and Riviera Maya