In Costa Rica, the Rental Law defines the rights and duties of both the lessor and the lessee; based on the fact that there is or will be a contract between parties. Now, the amount to be paid for rent varies according to the specific conditions, but how do the rents in colones work and what is the difference with making the payment in dollars?
In Costa Rica, the agreed price in the rents for housing must be in colones and can be updated at the end of each contract year.
However, leases can be agreed in foreign currency as long as there is agreement between the parties. This modality, unlike the rentals in colones, must maintain the exact sum during the entire term of the contract, that is, there is no right to adjustment or increase if the agreed time has not ended.
These conditions must be arraigned at the beginning, together with the term, the date of payment, the rights and duties of each party in case of repairs and other details.