8 Tips For Finding A Rental In Panama

According to Adrian Jose Velasquez Figueroa, buying property as an investment cannot be considered as a source of passive income. It is challenging and time-consuming in Panama just like anywhere else in the world. Investor education paired with caution play a vital role in purchasing the right property in Panama. The tips below will help you purchase property that will maximize your investment.

1. Buy Below Market Value

Emphasis on buying a house for a price below its market value to make a profit when selling. This statement on dateas.com should apply more so if you’re buying a house on a mortgage. Purchasing a house below its market value also allows you some price freedom when renting it out.

2. Choose the right neighborhood

Panama has a broad market condominium for both medium and high-income residents on adrianjosevelasquezfigueroa.com. There is property along the beach, mountains, and even islands. Therefore, do research to understand value of Panama property to the location

3. Understand the Laws Governing Property Ownership in Panama

Read “The Rental Rules In Panama” to familiarize yourself with the laws governing property ownership.

4. Consider the Type of Services Available

Services such as private parking are some of the things to consider. Other services to consider include gym, pool, security, social areas, etc.

5. Inspect Structure Integrity

In Panama, the quality of building varies on Instagram. Even in new neighborhoods, some developers are known to skimp on labor, and that affects the overall quality of the building. Therefore, it is important to dig up a little history on the developers of the property.

6. Managing Rental Property

If you’re not a full Panama resident, it is worth considering hiring a company to manage your property. It is important to do regular visits to the property and maintain communication with the tenants to avoid running into problems. See: https://es-la.facebook.com/virgilio.velasquez.52

7. Bigger Is Not Always Better

In Panama, bigger is not always better. Instead, consider the number of bedrooms, restrooms, if you will rent it out furnished or not, etc. those are some of the price determinants in the region.

8. Public Utility Bills & Services

Utilities such as energy and water vary from one tenant to another. Therefore, it is important to stipulate if these bills will be covered in the total rental cost.

About Adrian Velasquez Jose Figueroa

Adrian Jose Velasquez Figueroa is Venezuelan native currently residing in Panama where he works. Adrian Jose Velasquez Figueroa serves as an executive in five different companies in Panama holding titles such as President, Director, and Treasurer. He is a seasoned member of the Panama business community where he is mentoring young people become leaders and empowers the local communities to develop economically.

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