Cartago is a very good investment opportunity for anyone who wants to take it. The market is highly demanding and the supply is often very low. In this article we tell you some important information that can convince you to invest in Cartago.
Renting properties as an investment in Cartago is an almost sure income. As there is so much demand and low offer, whats available can be rented in a few days and even before going on the market!
An excellent opportunity for any investor is to buy houses in this province and rent at various prices, depending on the profile of the tenants.
Market Prices
Market studies have shown the range of prices requested by potential tenants in places in Cartago.
Approximately 80% seeks rents from ¢250,000 (two hundred and fifty thousand colones) to ¢400,000 (four hundred thousand colones). Usually this group of people loos for houses with two or three bedrooms and a garage.
The other 20% of those interested request ranges from ¢400,00 (four hundred thousand colones) to ¢700,000 (seven hundred thousand colones). This select group, although it’s the minority, are usually interested in rentals in condos or houses in very safe places with green areas.
Tips to rent safely
Regarding the lack of supply that has become persistent in this place, most of the owners have said that they have “horror experiences” with some of the tenants. That is why we give you some important tips to take into account if you decide to invest in properties for rent in Cartago.
- Payments: The common factor among bad rental experiences is that tenants start to fall behind with payments. A good strategy to avoid this type of problems that demand a lot of time and energy; is to request a guarantee deposit and at least two months in advance. Or another good option is to request quarterly or bi-monthly payments instead of making them monthly, this way you can avoid problems knowing that you have the advance payments.
- Contracts: Another important issue are contracts. To avoid any possible break of clauses or problems of any kind in the property because of your tenant; a good strategy is to include in the contract a monthly visit clause of the landlord, so you can check that the property is in good hands and make sure everything is in order. This tip can also help you to get to know your tenants better and who you are really doing business with.
- Property Management: This is rarely used but very effective. You as an investor can designate a budget in the rental payment for a “landlord”. So you hire a person who is in charge of ensuring all the details of the contract, payment, review of the property and everything of your relationship with the tenant; without you having to do them! This modality allows you to avoid future problems and in addition you have everything controlled.
Cartago is an excellent investment option for anyone who want to invest in this beautiful province. In general, the most difficult thing to achieve is a wide demand and here what is needed is more supply. So do not be afraid to invest in Cartago, following the tips above and having a good legal advice, being successful in this business is almost guaranteed.
