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Hello..

How has Covid affected the housing market in Lake Chapala, specifically the rental market?

Thanks...Mitch

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Canadians are cautious by nature. Many drive down... which means through States that have high Covid numbers and lots of people who will not mask, take precautions or get vaccinated. Also, the U.S. has not opened its border to allow Canadians to travel by land into the U.S. Mexico is itself going through a spike and we all know that those reported numbers are on the low side. There are no direct flights from Canada to Guadalajara if they chose to fly.

I keep an eye on rents and, imho, they seem to be going up which also affects Canadians since our dollar value sucks and rentals seem to be priced in U.S. dollars.

They'll wait.

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6 minutes ago, Ferret said:

Canadians are cautious by nature. Many drive down... which means through States that have high Covid numbers and lots of people who will not mask, take precautions or get vaccinated. Also, the U.S. has not opened its border to allow Canadians to travel by land into the U.S. Mexico is itself going through a spike and we all know that those reported numbers are on the low side. There are no direct flights from Canada to Guadalajara if they chose to fly.

I keep an eye on rents and, imho, they seem to be going up which also affects Canadians since our dollar value sucks and rentals seem to be priced in U.S. dollars.

They'll wait.

Great info..ty. Stay well!

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I can only speak about the condo complex that I live in,  I don’t how some posters can claim they speak for “The Canadians”.   In the complex that I live in and have lived in for more than 10yrs  Just about all of the Canadians who usually spend time here are planning to return, they have put down deposits for this snowbird season.   If as one poster claims the rents are increasing and the Canadians aren’t coming who is renting these places and driving the rents up.. ?  

 

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I have no idea why the price of rentals is higher. Perhaps the owners are trying to make up for the money they didn't make last season? Dunno. I am checking rentals on accesschapala and get their e-mail... what was $800 U.S. a couple of years ago is now $1,000. I try and stay on top of what's available because I am often asked to do so by friends in Canada.

Go figure.

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Rentals here are found by boots on the ground and an ear to the local gossip post (town square). So it really helps if you speak basic Spanish. In general, Mexicans are very frugal, and do not like the idea of paying someone to find a gringo tenant.

In many other parts of Mexico, you are required to put up an onerous financial gaurantee. They are likely to forgo this entirely, or accept a bond, especially Lakeside. Maybe, as a consequence, I have heard of many rentals lately abandoning their rentals, and many more squatters.They might blame Covid, as an excuse,helping out family etc. Another "problem" is the Mexican tax department has hired hundreds of new collectors. If a home or apartment is rented as furnished, the owner, through the tenant, is legally required to pay a 16% tax on the rent, another 3% if in a tourist area. If they advertise the rental on the internet, they are basically sitting ducks. Properties here often take many years to sell, unless highly discounted. A great many people here do not own houses, the houses own them. Very high and ever constant repair costs here. Landlords are required to pay all major repair costs. The Courts are very much pro-tenant here. Even pro- Squatter.

This is the situation, warts and all. We have been very lucky over the last 11 years, finding some wonderful homes, never paying more than $500 U.S. per month in peso equivalent.

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@MitchF Long term or short term??  For short term, there are lots of listings on Airbnb's and VRBO's.  There are also B&B's but if you're coming for more than a few days you'll find Airbnb's and VRBO's generally cheaper per night (over a week+) with  more room/space.  

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Just now, Bisbee Gal said:

@MitchF Long term or short term??  For short term, there are lots of listings on Airbnbs and VRBO's.  

Great question...1st time would be most likely just for a very short term..more like an airbnb or similar.  If everything worked out, I would be looking at min 1 yr rentals till I became acclimated to the different areas and then decide where I'd like to live. I work online. So as long as internet is good. I'm happy...🙂

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