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Local vs. gringo rental market

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Local vs. gringo rental market

Post by coffeeguy on Sun Feb 19, 2017 2:07 pm

A quick note since we're currently back N.O.B. but thinking seriously of returning to Lakeside for good. It seems like asking prices for gringo-oriented, usually gringo-owned properties are if anything higher than ever, based on what I'm seeing not just from agencies but on the Chapala rentals Facebook page, Homeaway (aka VRBO) etc.

Obviously truly local rental offerings don't make it to the internet much (or at least to sites I'm familiar with) but from what little info I have available it seems like decent unfurnished or semi-furnished places are available in Chapala in the 4000-7000 peso range, which at current exchange rates is a third or less of typical furnished Ajijic places. I assume word of mouth and just walking and/or driving around and looking for signs is the way to go, but also wanted to do a bit of a reality check on prices. It always amazes me how high a percentage of the offerings are in dollars at Lakeside - even in San Miguel most everything is in pesos.

Any thoughts appreciated!

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Re: Local vs. gringo rental market

Post by Lady Otter Latté on Sun Feb 19, 2017 2:39 pm

Your assessment of the rental situation is accurate as far as I know. Every expat I know here in Chapala lives in a place priced at and paid in pesos. No one pays more than 7,000 pesos per month and several substantially less. Also, all found their rentals either through word of mouth or by exploring neighborhoods. None of those rentals ever made it to any location on the internet.
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Re: Local vs. gringo rental market

Post by CanuckBob on Sun Feb 19, 2017 3:55 pm

The tax man is cracking down on landlords too. This can increase prices by at least 16% if they are forced to collect the IVA. Inflation is going to be "huge" in Mexico this upcoming year. Don't expect prices to come down.

Typically, Mexican owners want pesos and gringo owners want USD (converted into pesos each month).

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Re: Local vs. gringo rental market

Post by coffeeguy on Sun Feb 19, 2017 5:27 pm

Thanks very much to both of you!

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Re: Local vs. gringo rental market

Post by LLiving on Sun Feb 19, 2017 6:46 pm

So the best practice for new comers is just go down there, walking/driving around the area to look for rental bargains. Is it fair to sum up that way ?  Very Happy Very Happy

Thanks for all the input.
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Re: Local vs. gringo rental market

Post by Trailrunner on Sun Feb 19, 2017 7:17 pm

LLiving wrote:So the best practice for new comers is just go down there, walking/driving around the area to look for rental bargains. Is it fair to sum up that way ?  Very Happy Very Happy

Thanks for all the input.
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Yup.
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Re: Local vs. gringo rental market

Post by oncesubtle on Sun Feb 19, 2017 9:38 pm

Try the American Legion in Chapala for breakfast, lunch or dinner. You will meet a lot of folks and they can help in getting the word out. They may also have a bulletin board.
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Re: Local vs. gringo rental market

Post by Zedinmexico on Mon Feb 20, 2017 8:12 am

Understand in the Peso market you are probably more likely to not have appliances or such than a gringo house. You may or may not have to fix more yourself in a Peso house depending on landlord of course. So renter beware.

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Re: Local vs. gringo rental market

Post by gringal on Mon Feb 20, 2017 8:20 am

Zedinmexico wrote:Understand in the Peso market you are probably more likely to not have appliances or such than a gringo house.  You may or may not have to fix more yourself in a Peso house depending on landlord of course. So renter beware.

I think I know a guy whose landlord wouldn't fix a literally falling apart house !
lol!

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Re: Local vs. gringo rental market

Post by CHILLIN on Mon Feb 20, 2017 9:05 am

Mexican landlords are supposed to pay 16% IVA if their rental is furnished. They are supposed to report to Hacienda for taxes, and if American, report the revenue to U.S.A. If a tenant asks for an official receipt for the rent/tax paid (electronic factura), they can with hold rent until this official document is issued.

Mexico has very "left wing" laws about property and labour - a byproduct of a nasty revolution which ended less than 100 years ago. Luckily, everything else is kind of loose, as you know having lived here before.

A personal opinion is that with all these difficulties, landlords, especially gringo landlords are just happy to have someone they can trust on their property, just looking after the place, covering minor maintenance, oiling hinges, etc. No rent, but have to pay all consumables and maybe frac fees, and maybe move out one month per year. Another opinion, there is definitely a demand for live in "stagers" - people who agree to live in a house which is up for sale, cooperate with realtors, keep the place clean, presentable, enthusiastic ( as in "I would love to own this house! But we can't afford it")
All for the same condition as caretakers, six months notice to move.
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Re: Local vs. gringo rental market

Post by Lady Otter Latté on Mon Feb 20, 2017 9:18 am

Zedinmexico wrote:Understand in the Peso market you are probably more likely to not have appliances or such than a gringo house.  You may or may not have to fix more yourself in a Peso house depending on landlord of course. So renter beware.

This is true. However, why would you not be willing to pay for more of the maintenance and repair when you are paying 4- or 6,000 pesos a month rent instead of 12- or 14,000 pesos? (Although, some people I know rent houses owned by Mexicans who do all the maintenance and repairs.) That is why you look, shop, hunt for the right place. You also negotiate terms acceptable to both you and the owner. These deals are unlikely to be found in gringo-saturated Ajijic. So, if that is where you must live then you accept the terms you are offered. It is definitely an owners' market in Ajijic.
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Re: Local vs. gringo rental market

Post by Trailrunner on Mon Feb 20, 2017 9:21 am

gringal wrote:
Zedinmexico wrote:Understand in the Peso market you are probably more likely to not have appliances or such than a gringo house.  You may or may not have to fix more yourself in a Peso house depending on landlord of course. So renter beware.

I think I know a guy whose landlord wouldn't fix a literally falling apart house !
lol!

Why would anybody rent a literally falling apart house?
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Re: Local vs. gringo rental market

Post by gringal on Mon Feb 20, 2017 9:34 am

Trailrunner wrote:
gringal wrote:
Zedinmexico wrote:Understand in the Peso market you are probably more likely to not have appliances or such than a gringo house.  You may or may not have to fix more yourself in a Peso house depending on landlord of course. So renter beware.

I think I know a guy whose landlord wouldn't fix a literally falling apart house !
lol!

Why would anybody rent a literally falling apart house?
It wasn't falling apart when he rented it!

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Re: Local vs. gringo rental market

Post by Trailrunner on Mon Feb 20, 2017 9:58 am

Then he needs to move! Threaten to move and see how fast it gets fixed.

I've been renting here for 13 years and have NEVER had a crappy landlord. If it's cheap and my responsibility to fix, I fix it! If it's big and expensive and their responsibility to fix, they fix it. But then, I'm a good tenant and they don't want to lose me. In all the houses I've rented, I've never had a landlord raise the rent either and my current house has had the same rent for 6 years without a raise or even a contract. My landlord and I like each other and he appreciates that I keep the house up and care about it.
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Re: Local vs. gringo rental market

Post by Telso on Mon Feb 20, 2017 11:06 am

I gave up renting fron gringo landlords because my rent went up every month.. The rent was in US dollars but they wouldn't take actual US dollars had to be pesos.
So I found a rental that charged in pesos.... Same price every month. Great Mexican landlord.. It is in my lease that I pay for any repair under 500 peso.. But so far the landlord has fixed everything with no charge..

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Re: Local vs. gringo rental market

Post by gringal on Mon Feb 20, 2017 12:27 pm

Trailrunner wrote:Then he needs to move! Threaten to move and see how fast it gets fixed.

I've been renting here for 13 years and have NEVER had a crappy landlord. If it's cheap and my responsibility to fix, I fix it! If it's big and expensive and their responsibility to fix, they fix it. But then, I'm a good tenant and they don't want to lose me. In all the houses I've rented, I've never had a landlord raise the rent either and my current house has had the same rent for 6 years without a raise or even a contract. My landlord and I like each other and he appreciates that I keep the house up and care about it.

Not necessarily so, about threatening to move. The family I first referred to, gave up and moved some time ago, and probably have a better landlord now. The next example is a local Mexican family who were burglarized four times and threatened to move if the landlord didn't put in better security, but no go. They finally gave up and moved. Sounds like you have a good landlord who appreciates a good tenant.

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Re: Local vs. gringo rental market

Post by Lady Otter Latté on Mon Feb 20, 2017 12:46 pm

Many of us are blessed to have good landlords. They appreciate us and we appreciate them.
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Re: Local vs. gringo rental market

Post by sallys other sister on Mon Feb 20, 2017 9:50 pm

Trailrunner wrote:Then he needs to move! Threaten to move and see how fast it gets fixed.

I've been renting here for 13 years and have NEVER had a crappy landlord. If it's cheap and my responsibility to fix, I fix it! If it's big and expensive and their responsibility to fix, they fix it. But then, I'm a good tenant and they don't want to lose me. In all the houses I've rented, I've never had a landlord raise the rent either and my current house has had the same rent for 6 years without a raise or even a contract. My landlord and I like each other and he appreciates that I keep the house up and care about it.

Would your land lord object if you wanted to do an upgrade? meaning like maybe running a new electrical wire to put a light in a certain place or change tile on the floor or just bringing it up to American standard? With their approval of course.
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Re: Local vs. gringo rental market

Post by Trailrunner on Mon Feb 20, 2017 10:02 pm

My house is up to American standard.
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Re: Local vs. gringo rental market

Post by Zedinmexico on Tue Feb 21, 2017 7:49 am

Many landlords hide behind rental companies and won't fix anything. I have rented five houses here and had great landlords and bad ones with the rest in the middle. I would say it depends is the answer. I have fixed so many things in these houses except for our first house that had a very attentive landlord. I would rather do it myself for the most part than deal with the "we talk to the owners" put off. Now I rent directly from a landlord that I can talk to anytime. I look out for his property and they are very happy with us and gave us another three year lease with no price increase. So if you get the right relationship its much better than dealing with the hidden landlord. I would say the landlord and situation are much more important than paying in dollars or pesos. I do admit we are not scared off by funky shall we say homes.

Z

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Re: Local vs. gringo rental market

Post by gringal on Tue Feb 21, 2017 8:38 am

"Many landlords hide behind rental companies and won't fix anything" (zed)

How, exactly, can a landlord "hide"? Much depends on the rental contract, which is pretty transparent in naming names.

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Rental Gringo vs Local

Post by TooMuchCoffee on Thu Feb 23, 2017 12:03 pm

CHILLIN wrote:Another opinion, there is definitely a demand for live in "stagers" - people who agree to live in a house which is up for sale, cooperate with realtors, keep the place clean, presentable, enthusiastic ( as in "I would love to own this house! But we can't afford it")  
All for the same condition as caretakers, six months notice to move.

An empty house is subject to squatters, hence the need for house sitters which a lot of people do here, particularly for the homes up in the "hills".

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Re: Local vs. gringo rental market

Post by Zedinmexico on Fri Feb 24, 2017 7:35 am

gringal wrote:"Many landlords hide behind rental companies and won't fix anything" (zed)

How, exactly, can a landlord "hide"?  Much depends on the rental contract, which is pretty transparent in naming names.


Taking eight weeks to get back to the rental company over and over with excuse after excuse.  As someone said earlier "time to leave" and we did.  What can you do other than leave? They didn't fight us as Brad the home inspector condemned the house for structural problems. Its now being rebuilt as apartments near Zaragoza and Colon. Ummmmm Love those home depot doors and windows. All the wrought iron is gone. Sad end to one of the last Hacienda styled house built in Ajijic.

Z

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