Unfiltered Political News

Expert Tips for Owning Rental Property in Panama offered by Adrián José Velasquez Figueroa

The common thread of this piece and best piece of advice offered is that anyone who is looking to purchase property in Panama must do their due diligence when it comes to research. A potential buyer must know the housing market on, the variety of property locations( mountain and island areas for example) and their pros and cons, the kinds of services that renters are looking for and if they are cost efficient, the different kinds of property(house, condominiums, apartments, etc.), who they are aiming to rent to( locals, high or low income, tourists, etc.), the state and safety of the potential buildings, and one must have knowledge of the cost and fluctuations of public utilities.

Hiring a broker is highly recommended to help negotiate the market prices, quality and affordable properties and what is expected from a landlord. Another recommendation of Figueroa is to hire a management company to oversee maintenance, services and collection of fees for the property. These both come with a cost and should be figured into the purchasing budget. Above all, when purchasing a property according to Adrián José Velasquez Figueroa it is recommended that one buys below the market value so costs can be sustained if property values rise or decrease, also when it comes to public services, it is best to have the tenants put them in their name so no cost is transferred to you, the landlord in case of mispayment or nonpayment.

Adrián José Velasquez Figueroa, since 2011 has held the three titles, President, Director, and Treasury in five separate Panama business companies. He also well known for assisting other young professionals to succeed, contributing to positive economic changes, and adding to the addition of businesses. He has contributed articles based on the unique wonders of Panama, where to visit and what to see. Figueroa highlights Panama City, in particular, engaging readers with the modern and historical sites that can be found in the busy city. Adrián José Velasquez Figueroa’s articles can help getting potential rental property purchasers excited and informed about the possibilities that they and their future renters can benefit from, from the expansive beauty of the Panama Canal to the high reaching glass architecture of the Dubai Skyscraper.

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