How To Rent In Cuenca For US$300 Per Month
Sept. 23, 2014, Quito, Ecuador: Here’s what you need to know to find and negotiate a rental apartment in Cuenca, Ecuador.
Dear Live and Invest Overseas Reader,
"When we first started our property management office, we had six rental properties that were rented maybe 25% of the year," explained Graciela Quinde, owner of Rentals Cuenca in Cuenca, Ecuador, to the group convened in Quito for last week's Live and Invest in Ecuador Conference.
"Now I manage between 30 and 50 rentals," Graciela continued, "and they are occupied 90% of the year, some 100% of the time. And my company is not the only one managing rentals in Cuenca today. The rental market in this city is booming. More turn-key properties intended for the foreign client are available than ever before. Still, supply is lagging demand."
The good news for the renter in Cuenca is that, despite the growing demand and despite property values appreciating at a rate of about 10% per year for the past seven years, rents remain low in this city, though they are edging up.
The would-be renter in Cuenca has more support than ever. Typically, the world over, a property manager manages a rental property for the owner. In Cuenca, though, Graciela's company offers a service for the renter, as well.
"We're dealing with a lot of foreigners," Graciela explained in Quito last week. "A lot of them don't speak Spanish, and they need some hand-holding. We're happy to provide that. We help with things like setting up cable TV and Internet."
Graciela's firm also provides turn-key rentals, furnished and with all utilities already in place. This is a great choice for someone who wants to spend two or three months in Cuenca to try the city on for size before committing to an annual lease.