Herman Posted October 26, 2018 Report Share Posted October 26, 2018 I’ve read that in order to rent a house you have to have a Mexican co-signer. Can anyone provide info on this and how Americans rent? thank you Link to comment Share on other sites More sharing options...
ComputerGuy Posted October 26, 2018 Report Share Posted October 26, 2018 No, no co-signer needed, actually. Where did you read that? Link to comment Share on other sites More sharing options...
WideSky Posted October 26, 2018 Report Share Posted October 26, 2018 1 hour ago, Herman said: I’ve read that in order to rent a house you have to have a Mexican co-signer. Can anyone provide info on this and how Americans rent? thank you money talks, the rest sleep in the street or with da' fishes.... Link to comment Share on other sites More sharing options...
Xena Posted October 26, 2018 Report Share Posted October 26, 2018 Everything is changing. It used to be unheard of at the lake. However, recently I have heard it being mentioned. I understand it is fairly common in Guadalajara and other big cities. Now, that Lakeside has been “discovered” we too can begin enjoying all the perks of living in a booming rental market. Link to comment Share on other sites More sharing options...
Al Berca Posted October 26, 2018 Report Share Posted October 26, 2018 So common as to be expected in GDL. Not common at all here. Rare, in fact. If a landlord demands a co signer for a lakeside rental property I would just walk away. Link to comment Share on other sites More sharing options...
gringal Posted October 26, 2018 Report Share Posted October 26, 2018 If that were to become the rule around Lakeside, it would be very, very difficult for a newbie to find a place to live. It takes a while for anyone to know someone well enough to be willing to co-sign, to put it mildly.🤑 Link to comment Share on other sites More sharing options...
ComputerGuy Posted October 26, 2018 Report Share Posted October 26, 2018 It is certainly not a "law". Things in the big city might be different. I would think getting an expat to rent your place would be sought after, no matter the prices or shortage of houses. Link to comment Share on other sites More sharing options...
Ferret Posted October 26, 2018 Report Share Posted October 26, 2018 Having rented in San Miguel de Allende and San Pancho and Lakeside, I can tell you that a co-signer is not required. Sounds like facebook b.s. to me. Link to comment Share on other sites More sharing options...
More Liana Posted October 26, 2018 Report Share Posted October 26, 2018 An aval or fiador (two separate words for cosigner on a lease, mean the same thing, co-signer on a lease) are required 99.9% of the time in Mexico City. The cosigner signs official forms that mean that in the event that the renter defaults on the lease, the cosigner will pay the entire amount remaining on the lease. To be eligible as an aval, the cosigner must own his or her property outright, no mortgage permitted. When I moved to Mexico City, I knew many, many people in the city--mostly Mexicans, the majority of whom 'owned' property--but with a mortgage. My prospective landlady finally agreed to accept 12 months worth of pagarés--the legal equivalent of the less-formal Stateside IOUs--in lieu of an aval, guaranteeing that I would pay the rent each month. I lived in that apartment for almost eight years, and despite my 8 years of prompt payment of the monthly rent, she still required annual pagarés. After last September's earthquake here, I had to find a new apartment. The owner here did not require an aval but DID require an insurance policy for one year guaranteeing that the rent would be paid. One year only, though. Sunset view from my kitchen window, October 24, 2018. Link to comment Share on other sites More sharing options...
solajijic Posted October 31, 2018 Report Share Posted October 31, 2018 Ohhhhh, very nice view. Request for a Fiador is fairly common in Guadalajara however there are companies whose business is being a fiador so I am guessing that is similar to your insurance policy. I vaguely recall that it cost is equal to a month rent. Here I have only heard of a Fiador being required twice. Both times for very high-end national owned properties which in around 2011 were $2500 US each and both were leased to executives of Hershey on their housing package. There are some national owners now requesting the entire year of Pagares but those are still not common. Its a whole new market. Link to comment Share on other sites More sharing options...
TheBee2 Posted November 27, 2018 Report Share Posted November 27, 2018 Check on Tranio website as they have always the latest information regarding renting and buying property. Hope it helps! Link to comment Share on other sites More sharing options...
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