Tulum and Playa del Carmen are jewels of the Mexican Caribbean where investing means prospering, thanks to their high appreciation and natural attractions. Both destinations are ideal for investment focused on rentals, a business with two main players: the lessor and the lessee.
These two concepts are often confused when it comes to renting, but here we explain the differences between them.
First, the lease agreement
To rent out a property, there must be a lease agreement, a document that proves one person temporarily grants another the use of a home in exchange for a certain price. This document includes elements such as: names of the parties, location and description of the property, rent amount, contract duration, some guarantee, among others.
The main players in the agreement
There are two parties in this agreement: the lessor and the lessee. The first is the person who leases out a property. In other words, they are the owner of the property or someone authorized to rent it out. The lessee, on the other hand, is the person who pays a certain amount in exchange for the use of the lessor's property.
Roles of the lessor and lessee
Renting out a property is an excellent way to generate extra income; however, as a lessor you commit to: • Deliver the property at the agreed time. • Keep the property in good condition and make necessary repairs. • Be liable for damages suffered by the lessee due to defects in the property. • Pay for improvements made by the lessee when required by law. In the case of the lessee, temporarily occupying a home involves responsibilities such as: • Paying the full rent on time. • Repairing any damage caused by themselves or their family members. • Using the property only for the agreed purpose. • Returning the property in perfect condition when it's time to hand it back.
Your best option for rentals
Acquiring a property is a great way to boost your finances, especially in cities like Tulum and Playa del Carmen, which offer good returns on investment and a high quality of life. In both destinations, Grupo Emerita has projects designed to take advantage of tourism trends and help you earn more. We have apartment developments in the best areas to get into the rental business. Learn more about Grupo Emerita and our projects in the Riviera Maya, the perfect place to invest and become a lessor.
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