Surely you have read while surfing the Internet, ads that say "apartment rental with option to buy", but what exactly is this alternative to buy a home? We explain it to you in this article:

Apartments for rent with option to buy in Alajuela, Costa Rica: 

What does it consist of?

Renting an apartment with an option to buy consists, most of the time, in paying the rental installments to a premium to start a second contract: the purchase of the real estate. In simpler words, it is to take the money destined for the rent and to destine it to the payments of a possible purchase.

How does it work?

Generally, an agreement of this type involves the creation of two contracts (rental and purchase and sale), or a mixed contract, which includes the elements that appear in the parenthesis. It means that if you decide for this option, you will live renting until the determined term of the first contract to start the second one, the purchase and sale contract, with which you will have the right to buy the property at the price agreed from the beginning.

What should you consider?

Contracts vary depending on the real estate project. There are some that offer to pay the premium with 100% of the amount paid for rent for a year, as well as there are other projects that only allocate a percentage of the rental fee for the amount. Therefore, there are elements that you cannot forget if you decide to look for a project of this type in Alajuela.

Renting apartments with option to buy in Alajuela, according to the Tenancy Law in Costa Rica: what you should not forget

• The contract must include the lease amount and percentage to be credited to the purchase price.

• The price of the real estate must be fixed, appearing in the contract, so it cannot vary during the period included in the purchase offer.

• Period of time determined for renting the dwelling or apartment.

• You must be clear about the monthly rent and the term in which the right to purchase can be exercised.

• Amount to be discounted, either in whole or in part, from the rental installments in the sales price.

• Penalty amount in the event that the tenant does not proceed with the purchase contract.
  

If you are looking for condominiums where you could buy a house or rent an apartment, we invite you to click on the following link, we anticipate that there is an option that is very close to the industrial zone of El Coyol, Alajuela.