Breaking Down Condo HOA Fees in Costa Rica

If you are considering a beach property in Costa Rica, good chance one the best options will be condominium. The majority of those who purchase a beach property in Costa Rica are not here full time so condo developments help provide the security and services that are vital for absentee owners. Condos also make the most convenient vacation rentals and for most owners who are not living in Costa Rica, securing rental income is one of their priorities.............

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However, everyone wants something for free, and many are a bit surprised of some of the fees that condo developments carry. For many of the condo projects in Jaco these monthly fees average in the range of $450-550. Sound like a lot to you? Not to me, not at least when you break down what those expenses include. Let’s look at an example, take away those expenses and see what one would pay if it was just some stand alone property.

Water $15
Cable $30
Internet $30
Pool Maintenance $75
Pool Electricity $50
Landscaping $40
Property Management $75
Deferred Maintenance $50

That quickly adds up to $365 per month, while not including one the most important things that absentee owners need, security! Not to mention, vacation rental management and marketing which will be needed to rent out your property. Most likely the condo property will be more sought out as a vacation rental vs. a stand alone home as most vacationers also seek out the amenities and conveniences of the a beach condo. In fact, most often the rental income made from a beach condo will usually easily cover all of those fees.

And remember your property taxes for these beach properties in Costa Rica are usually in the range of $600-900 a year! So yes, there are going to be costs associated with owning a condo in Costa Rica, but with that comes assurance that your property is being maintained, looked after and rented out.

Right now there are a few motivated sellers featuring direct beachfront condos from $250,000! For more information contact me direct at 707.962.4482