Things you must know about your property to keep it safe and legal in Costa Rica
As of January 1, 2022, the Simplified Income Tax Return (D-101) was made available to inactive companies. The Costa Rica Department of Treasury has finally sorted out its inconsistency and confusion surrounding the new legal obligation for companies that are “inactive” to file a tax return. In the past, this has not been an obligation …
Inactive Corporation Tax Return Declaration 2022 Read More »
These expenses may include mortgage interest, property tax, operating expenses, depreciation, and repairs. … You can deduct the costs of certain materials, supplies, repairs, and maintenance that you make to your rental property to keep your property in good operating condition.
Property Management companies deal directly with prospects and tenants, saving you time and worry over marketing your rentals, collecting rent, handling maintenance and repair issues.
If you’ve forayed into the world of vacation rentals, you’re likely riding a wave of excitement… and revenue. So, what’s the best way to rent a vacation home? Here’s a list of 18 ways you can earn more from your vacation rental in 2018, including strategies for improving the guest experience, how to manage your …
10 Ways to Increase Vacation Rental Bookings and Profits in Costa Rica Read More »
If you are the legal representative of a Costa Rican corporation, this applies to you! New regulations to disclose all shareholders of corporations are now being enforced
Some Responsibilities of a Property Manager Maintains property rentals by advertising and filling vacancies. Establishes rental rates, prepare invoices and calculate taxes and profit goals. Manage the staff, schedules cleaning, gardening and maintenance jobs Maintains property by inspecting houses and completing repairs, planning renovations, landscaping and supervising repairs. Knowledge of Landlord-Tenant Law Paying bills (Utilities) Responsible …
Property maintenance companies take care of many different issues. They can repair lighting issues, plumbing problems, broken locks, water and flooding issues, fence repairs, ceiling repairs, roof repairs, painting, replacing doors, tub repairs, and even can be called in to do trash removal and move-out clean up.
Typical Fee Agreement. As a baseline, expect to pay a typical residential property management firm between 8 – 12% over the monthly rental value of the property, plus expenses. Green Management charge $150 per month flat for the “residence full package”.
Maintenance and miscellaneous. This is typically the hardest category to estimate, and often people underestimate the amount. A general rule is 1 percent of the property value per year. So a property valued at $180,000 would have $1,800 per year, or $150 per month, in these costs.
Operating a Vacation Rental in Costa Rica is now considered running a business. It’s going to take more than simply posting the listing and receiving renters. Here is what you need to know to comply with the tax regulations.
