Expat Community > Ecuador

casadecuenca
Joined 2013
Posts: 1365

Rental Deposits, kiss your money goodbye

11 years ago

Ecuadorian property owners are famous for asking large sums for rental deposits, sometimes a much as 6 months. If your are foolish enough to fall for this scam, kiss your money goodbye because you are unlikely to get your deposit back at the end of the lease. Ecuadorian property owners are notarious for keeping the deposits.

Earlier this year I was looking to rent a 2500 sf furnished house. The owner wanted $900 rent which was not a problem but they wanted a $5,000 security deposit, I got them down to $2500 but when it came time to sign the lease most of the furniture had disappeared and there was not $2500 worth of furniture left. I walked away.

A law has been passed that has not gone into effect yet that provides for a one month deposit, plus the first month.

The other problem is that what we think of as a furnished house or apartment and what Ecuadorian property owners think are often eons apart. Americans are used to showing up with their toothbrush and pajamas. A furnished home I rented a few months ago is a case in point. I agreed the owner could take the master bedroom furniture, she took all the beds from 3 bedrooms, curtains from windows ad nauseum after the lease was signed. So we played Italian market on the lease conditions.

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Expat Community > Ecuador

Rental Deposits, kiss your money goodbye

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