- In Mexico, around 200,000 homes are available for rent, representing 16.4% of the total.
- Not having a contract is a mistake that can cost tenants a lot and could even lead to property loss for landlords.
Wearing new clothes, setting life goals, starting a diet—these are some things people decide to do with the arrival of a new year. However, the months of December and January are also when many people change jobs and homes in Mexico. This is because most rental contracts end with the turn of the year, creating an opportunity to search for larger, safer spaces closer to their workplace.
In our country, 16.4% of private homes are rented, which amounts to about 200,000 properties, according to the National Institute of Statistics and Geography (INEGI). So if you’re considering moving, you can be assured that you have a variety of options to choose from. Regardless of whether this decision is planned weeks in advance or is a last-minute measure due to rising rental costs, it’s important to keep a few aspects in mind for a better experience. Here are five mistakes you should avoid when renting a home.
• Not having a contract: This is one of the most common mistakes when renting a property. The lease agreement is crucial as it protects the rights of both parties and ensures that obligations are met. For example, if the property requires maintenance or repairs and there is no contract, the landlord could refuse to cover those costs. On the other hand, there’s a risk for the owner that a tenant might take possession of the place, as the Federal Code of Civil Procedure is only enforceable if this document exists.
• Not reading the contract: On the flip side, there are cases where a contract is in place, but the tenant does not read or understand the agreements established. This is a significant issue because once you sign the document, there’s no way to protect yourself in case of a conflict. Therefore, we recommend carefully reading your contract and, if needed, consulting a specialist for advice.
• Signing before inspecting the property: Sometimes, when looking for a new house or apartment, we focus too much on the exterior and not enough on what’s inside. This can be a costly mistake, as you might find structural damage or issues like dampness that will lead to additional expenses for comfortable living.
• New house, new neighborhood, new rules: It’s important to understand that when you move, everything is different—from the landlord and their personal rules regarding the property to the community’s living norms, especially in multi-family settings. They may have habits very different from yours. For instance, if you are used to having frequent noisy gatherings, that’s something you should discuss with your new neighbors.
• Not knowing the total rental cost: This point might seem unrealistic since landlords usually only mention the monthly rent. However, this price may include some services, or the cost of those services may not be determined by corresponding utility bills but by the owner. Additionally, maintenance or security fees may apply. This information is not always provided upfront, so it’s important to ask all your questions.
These mistakes won’t always lead to legal issues, but they generally result in bad experiences or unnecessary expenses. It’s better to prevent these situations, and your best tools will be information and, of course, a contract. Remember, if you have doubts, you can always consult an advisor.
Comprar casa para rentar, una inversión inteligente
Fuentes de consulta:
https://www.telediario.mx/nacional/un-inquilino-puede-quedarse-con-la-propiedad-que-renta
https://www.inegi.org.mx/contenidos/saladeprensa/boletines/2021/envi/ENVI2020.pdf
https://www.telediario.mx/tendencias/quieres-rentar-una-casa-o-departamento-por-primera-vez