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Lease Land in Rosarito Beach Area

 

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PURCHASING PROPERTY IN THE ROSARITO BEACH AREA

 

Understanding What is a Land Lease

“A land lease” is a lease agreement that permits the tenant to use a piece of land owned by the landlord in exchange for rent. Most land leases allow the tenant to build a temporary (or in some cases, permanent) structure at his own cost, however, most land leases already have structures for the tenant’s use. Keep in mind that in this case, the landlord retains all ownership rights to the land.

 

Is Leasing Land an Option?

The leased land is still available for a foreigner to acquire. Because prices of leased land homes are more affordable than those with bank trusts, land leases are attractive to foreigners who wish to keep their Mexican investment at a minimum.

There are no closing fees, permits or taxes to pay in order to acquire or maintain a land lease. In some cases, utilities such as garbage disposal or water are included in the monthly charges for the lease. What needs to be understood when buying a home on leased land is that they are really purchasing the replacement value of the structure and its accompanying improvements.

There is one good alternative for those that want to lease land. I recommend using a time period of 9 years and 11 months. This is perfectly legal in both the Mexican court systems and with the landowner. At the end of the first contract, simply ask the landlord to renew for another 9 years and 11 months.

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