The popularity of condos in the booming Guanacaste region in Costa Rica has spawned a new business for local residents and entrepreneurs. As the tiny villages along the coast trade in their wilderness for billion dollar investments, locals are trading old jobs for marketing kits and tool belts. In the wake of the boom, property management services have been springing up to satisfy the requirements of absentee property owners who want to rent their homes to tourists as vacation properties.
Since development on the million Peninsula Papagayo project began in 1997, construction and real estate sales in Costa Rica’s Guanacaste region have been on a roll. According to Costa Rica’s Central Bank, big organization foreign investment in real estate has nearly tripled in the past 12 months – most of it in Guanacaste. The majority of these purchases represent investments in the tourism business with large scale hotels, developments and existing tourism businesses being snapped up by savvy entrepreneurs.
But not all investment in the tourism industry represents big enterprise. Individuals and families attracted by the climate and natural beauty of the area are acquiring in on the action. Discovering that condominiums make great and affordable vacation homes whilst supplying a viable source of income, men and women from all over the world are getting up condos in the country. But managing a property when you are out of the country is next to impossible and leaving your vacation property unoccupied for months is downright risky. Absentee owners can return to come across they’ve been robbed or even worse – that their property is being inhabited by squatters.
Many condominium projects address this difficulty directly by supplying property management services as component of the deal at acquire-in. Owners can enter their property into the project’s rental program and have their interests taken care of. Depending on what level of involvement you wish to have, property management companies will take care of every thing – from security to housekeeping. For a monthly fee, you can count on your manager to be your hotelier with a complete package that includes marketing, booking, cleaning, and maintaining the property although on internet site security removes the risk of unexpected or uninvited guests.