Tuesday 4 October 2022

Good News For Renters, Not So Much For Landlords

Residential rents in colones for 2018 cannot increase more than 2.6%

Paying the bills


Black jaguar is captured by camera traps in the Cordillera de Talamanca

QCOSTARICA - A jaguar with melanism (an increase of...

Border crossing with Panama restored, but trade conflict continues

QCOSTARICA - The temporary blockade that a group of...

Costa Rica begins with vaccination against Covid-19 in children

QCOSTARICA - The Caja Costarricense de Seguro Social (CCSS)...

The Best Online Casinos You Can Use Anywhere In The World

There’s nothing worse than having a winning streak on...

Business sector call for declaration of national emergency due to poor road conditions

QCOSTARICA - The Unión Costarricense de Cámaras y Asociaciones...

Heavy rains caused landslides and road closures

QCOSTARICA - The heavy rains on Monday caused landslides,...

Tourism dynamism does not reach all small businesses

QCOSTARICA - It is estimated that, by the end...

Dollar Exchange

¢625.74 Buy

¢631.33 Sell

04 October 2022 - At The Banks - BCCR

Paying the bills



Thanks to a recent law reform, residential rentals in colones cannot rise above the accumulated inflation of the past 12 months.

In 2018, the legal hike in rents is 2.6%.

- Advertisement -

This means that rents on apartments and houses, paid in colones, cannot go up more than ¢2.600 colones per ¢100,000, notwithstanding what the rental contract says.

The reform does not apply to rentals of commercial and industrial premises and residential rental contracts in US dollars.

All residential rental contracts in Costa Rica are for a minimum period of three years, in colones or dollars. The difference is the rent increases, dollar rents are not subject to legal limits, only what is stipulated in the contract.

Prior to the reform enacted last year, rentals in colones could be increased automatically and unilaterally by landlord, up to 15% per year, with or without justification.

- Advertisement -
Paying the bills
Avatar photo
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Medium-Term Costa Rican Vacation Renter Represents a New Kind of Traveler, say Tourism Experts

What do you prefer, accommodation-wise, when you go on vacation? Do you...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.