THE TOP 6 TIPS YOU NEED TO KNOW BEFORE RENTING IN ECUADOR -Ecuador Tenancy Law-
Ecuassist always recommends renting when you first arrive in Ecuador, so that you can explore the huge range of beautiful options the country has to offer. You may want to visit the vibrant and historic capital city of Quito, the beautiful cobblestoned streets of of Cuenca…..the mountainous villages of Otavalo and Cotacacchi, as well peruse up the coast through Salinas, Manta and Canoa, to find the perfect fit for you. Investing in real estate is a large commitment, so make sure you don’t put down roots before you see all that Ecuador has to offer!
After you have found the perfect jumping off spot for your new adventure in Ecuador, we recommend you start your search for a rental, referring to the list below:
1.- Search for a property through various ways, including online, word of mouth, and watching for “Se Arrienda”: (For Rent), signs in the windows of homes that may be fitting.
2.- Confirm with the landlord exactly what is included in the rent payment (ask about furnishings, maintenance, utilities, cleaning, HOA fees, parking, storage unit, pool access, etc).
3.- Confirm there is cell phone and internet signal
4.- Negotiate the price.
Once you have found the perfect place to settle in, it is time to formalize the agreement with a contract. We strongly recommend that you have a contract signed before moving into the property. Especially if you are not fluent in Spanish, we recommend that you seek legal advise about any contract that you sign.
Leasing agreements normally are drafted by people with no experience or template you can get at the local pharmacy, even though you get some help to read the contract for you, it is important to understand the legal consequences of all of your duties as the renter of the property.
PERSONAL AND THIRD PARTIES RESPONSIBILITY
The renter or sub-renter is responsible not only for their own fault but also for their family, guests, dependents or caretakers.