Renting real estate in Ecuador is not really all that different from other countries. You talk to a landlord, reach an agreement and sign a contract of lease. In this country, it is even more appealing to rent Real Estate in Ecuador because there are laws in place that are pro-tenants. This keeps landlords from imposing expensive rental prices or suddenly terminating any contract that tenants have with them for Real Estate in Ecuador. It also means that Real Estate in Ecuador tenants will not be left suddenly without a home just because of a whim of the property’s owner. They have rights to protect themselves from that possibility whether renting or owning Real Estate in Ecuador.
If you are an expat moving to a new country, it is more practical if you rent a place first before you buy Real Estate in Ecuador. Although buying Real Estate in Ecuador is very appealing, this is not always something that you should do immediately after arriving. You must consider settling down first to make sure that this is the country that you really want to live in. At the very least, you need to be sure that the city that you are in is the ideal home that you want to live in for the next few years. If you are not sure, then renting real estate in Ecuador should be more practical than buying.
Important reminders when looking for a rental Real Estate in Ecuador
While there is lesser strings attached and more flexibility when you are renting, you still need to be careful about this. You may not be rooted immediately but there are certain tips that will make renting Real Estate in Ecuador a breeze for expats. After all, moving to a new country is tiring and pretty involved. Smoothly renting a real estate in Ecuador should make your move all the more rewarding.
To accomplish that, here are a couple of tips that you may want to follow.
- Start your search before your move. Unless you have a big budget and you do not mind staying in a more expensive hotel during your first few weeks or months in Ecuador, you should start your search for Real Estate in Ecuador before you move. Although the MLS in Ecuador is not as extensive like in the US, you should have found a couple of contacts when you first visited the country looking for Real Estate in Ecuador. After all, you should have made one visit before you decided to move in the country permanently. It can be local friends or fellow expats. They can help you find a home for rent. Or, you can fly in before the great move and search neighborhoods yourself looking Real Estate in Ecuador. You can also get in touch with vacation rental owners. They may be able to arrange a long term contract for you.
- Be careful when making a deposit on Real Estate in Ecuador. Most landlords will ask their tenants to pay in advance. This is for their protection. While it is legal, you need to ensure that you have seen and inspected the place thoroughly before you make a deposit. Take careful note of any damage that you see. If you decide to move after the contract is over, the landlord might blame and make you pay for these damages – when it was already there before you moved in.
- Scrutinize the lease contract on all Real Estate in Ecuador. In Ecuador, a document will not be considered a legal agreement unless it is in Spanish. Make sure that you get a translated copy in English so you can understand every stipulation in the contract. Then hire a translator that will assure you that what is stated in the Spanish contract is based on what you agreed upon.
- Ask ahead for any documents that you might need. Ensure that you have the right visa and other documents to proceed with the rental. Sometimes, proof of income may be required – it really depends on the landlord that you will be renting from.
- Know the cost beyond the rental price. Your expenses will not be limited to the rented real estate in Ecuador. Some rentals, especially those in a condominium or a gated community might have additional fees each month. If you are given the right to use shared amenities, you might be asked to pay a certain amount on top of your monthly rent. If the community benefits from a security guard, you may be asked to share in the salary of that professional.
- Do not be afraid to negotiate the price. It is okay to negotiate the rental price of a real estate in Ecuador. If you notice some damages, offer to have them fixed yourself in exchange for a lower monthly rent. Or you can negotiate to stay for a longer period if they agree to lower the rent. Of course, when you are negotiating, you have to know the going rental rate in that neighborhood. That should give you some grounds to negotiate.
- Check for coverage. Lastly, you want to make sure that your cellular phone has coverage. Not only that, ask about the Internet connection in the area. You are an expat after all. You want to keep in touch with the people back home. Make sure the home you will rent will allow you to do this.
These tips should help you rent the right real estate in Ecuador.