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Rental Leases

Post by Fastfox on Fri Nov 22, 2013 12:41 pm

In Lisa Jorgensen's book Moving to Mexico's Lake Chapala, she states that, if you rent, you must be sure that your name appears on the lease exactly as it does on your passport or you could have problems. What kind of problems and why would anyone care?

Also, why would it be a problem to lease in the name of your US LLC?
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Re: Rental Leases

Post by Intercasa on Fri Nov 22, 2013 12:50 pm

Landlords want to lease to somebody who they can go after if there are problems and tenants want to be able to show their lease and use it for proof of address which won't work if the name is different.
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Re: Rental Leases

Post by Fastfox on Fri Nov 22, 2013 12:59 pm

So, actually, it's a matter between Landlord and Tenant. If you are a member of the LLC, occupying the rental, is that not sufficient proof of address?
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Re: Rental Leases

Post by lunateak on Fri Nov 22, 2013 1:15 pm

Is an US LLC recognized to legally lease in Mexico?
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Re: Rental Leases

Post by Intercasa on Fri Nov 22, 2013 1:42 pm

I would not rent to an LLC, Mexico has different rules and proving its legal right to operate in Mexico would be tough if not impossible and cost prohibitive for most people. Also good luck getting utilities in the name of a foreign LLC
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Re: Rental Leases

Post by Rosa Venus on Sat Nov 23, 2013 12:24 am

Put it in your name. Period.

Every time you have to do anything "official", as a RENTER, you have to demonstrate where you live, and that the address or your home actually exists. Trust those who have gone before you. You will need a copy of your lease for everything if you're not a property owner: doing the visa dance, opening a bank account, getting a driver's license, insuring anything, etc.

Put it in your name. Period.
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Re: Rental Leases

Post by Fastfox on Sat Nov 23, 2013 2:31 pm

I do realize most people do things the conventional way, however, there are are other ways to do things. Maybe we could be open to some other options, even if there fall out of the ordinary.

Let's assume that (1) you are on a Tourist Visa, you already have a Mexican Bank Account, have a US Driver's License, and you are not insuring anything. Now, why would having a lease in the name of an LLC be a problem (landlord willing).
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Re: Rental Leases

Post by CheenaGringo on Sat Nov 23, 2013 2:36 pm

Fastfox:

Even in the US, I would imagine that landlords or property managers would be hesitant to write a lease naming a LLC on residential property?

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Re: Rental Leases

Post by Pedro on Sat Nov 23, 2013 3:53 pm

ok. there ain't no such thing as an llc in canada or mexico. it's a yanqui thang. so who would rent to something that don't exist?
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Re: Rental Leases

Post by Fastfox on Sat Nov 23, 2013 4:30 pm

So I suppose if Exxon Mobil or Starbucks wanted to move a bunch of its employees and rent apartments for them, then they could not.

It is done for employees here in the US at apartment complexes with unfurnished apartments are well as furnished, which as call corporate apartments.


Last edited by Fastfox on Sat Nov 23, 2013 4:51 pm; edited 1 time in total
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Re: Rental Leases

Post by lunateak on Sat Nov 23, 2013 4:34 pm

They aren't LLC's. Your question is about LLC's.
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Re: Rental Leases

Post by slainte39 on Sat Nov 23, 2013 4:49 pm

Fastfox wrote:So I suppose if Exxon Mobil or Starbucks wanted to move a bunch of its employees and rent apartments for them, then they could not.
Only after Exxon Mobil acquires Pemex.   Very Happy 

In Mexico, the closest thing to a LLC is the S de RL de CV.  A large organization of this distinction would probably want a factura issued by the lessor...another bache.

edit...Has the US LLC been recognized and taken the proper steps to do business in Mexico?

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Re: Rental Leases

Post by Fastfox on Sat Nov 23, 2013 4:56 pm

My example did use LLCs, which those large businesses are not.  That is correct.  I suppose I should have just said a business.

The business has done no business in Mexico.  Let's say they just want to rent the place for their members to be able to stay there periodically.

As to whether the LLC can legally lease in Mexico, I find this an interesting way to view things...so a business who wants to bring money into country and spend it on rentals and other goodies, has to get "permission" to rent an apartment.

I don't want to offend anyone, but this is typical US thinking--that one must be get authorization/permission from a government official to rent an apartment with one's funds. The free market concept in the US no longer exists to the point where people are trained to ask for a permit, certificate or other piece of paper for which one must be a fee (tax). Even to get married! These things are just a way to get money out of citizens. All nations do this, some are worse than others.


Last edited by Fastfox on Sat Nov 23, 2013 5:06 pm; edited 1 time in total
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Re: Rental Leases

Post by Pedro on Sat Nov 23, 2013 5:15 pm

Fastfox wrote:My example did use LLCs, which those large businesses are not.  That is correct.  I suppose I should have just said a business.

The business has done no business in Mexico.  Let's say they just want to rent the place for their members to be able to stay there periodically.

As to whether the LLC can legally lease in Mexico, I find this an interesting way to view things...so a business who wants to bring money into country and spend it on rentals and other goodies, has to get "permission" to rent an apartment.    

I don't want to offend anyone, but this is typical US thinking--that one must be get authorization/permission from a government official to rent an apartment with one's funds.  The free market concept in the US no longer exists to the point where people are trained to ask for a permit, certificate or other piece of paper for which one must be a fee (tax).  Even to get married!  These things are just a way to get money out of citizens.  All nations do this, some are worse than others.
give it up-yer the only one thinking yanqui thoughts as far as i can see.Dead Horse  your segue into merkin politics has become quite blatant.
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Re: Rental Leases

Post by CanuckBob on Sat Nov 23, 2013 6:31 pm

If the landlord is OK with you leasing the place under your business name then go for it. If I was the landlord I wouldn't touch the deal with a ten foot pole.
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Re: Rental Leases

Post by slainte39 on Sat Nov 23, 2013 10:22 pm

Is this for a tax deduction in the US? Maybe the lessor will give you a receipt in the business name but then you haven't any receipt in your name in case you need one here, personally.
Like Bob says, it's tricky enough renting to foreigners, in person, let alone some business that isn't even doing business in Mexico.
The big corporations you mentioned, if doing business in Mexico, have a Mexican subsidiary....like Nueva WalMart de Mexico S de RL de CV.

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Re: Rental Leases

Post by Lady Otter Latté on Sat Nov 23, 2013 10:36 pm

Fastfox, go for it! If there is one thing Mexican people love it is gringos coming down here and telling them how backward they are and then explaining to them how to do things better and more efficiently. I have a feeling you are going to be very successful here. I know I am certainly impressed after reading just a few of your posts.
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Re: Rental Leases

Post by Intercasa on Sun Nov 24, 2013 10:28 am

They would still want a personal guarantee of a natural person to avoid roaches who might try to skip out and not pay or damage the property.
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Re: Rental Leases

Post by Rosa Venus on Sun Nov 24, 2013 11:06 am

Lady Otter Latté wrote:Fastfox, go for it! If there is one thing Mexican people love it is gringos coming down here and telling them how backward they are and then explaining to them how to do things better and more efficiently. I have a feeling you are going to be very successful here. I know I am certainly impressed after reading just a few of your posts.
cheers 
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Re: Rental Leases

Post by Fastfox on Sun Nov 24, 2013 11:50 am

I said nothing about how Mexicans are backward and how they should do things. I don't tell anyone how to do things.

I believe people make their own choices. I personally believe everything is subject to negotiation and there is more than one way to do things, and possibly ways that have not been done before (it's called creativity and critical thinking). I certainly am open to different ways and approaches to any problem or situation.

If you do not agree with this, then certainly you have a right to your view point.

I would not have made a personal attack in this manner.
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Re: Rental Leases

Post by Lady Otter Latté on Sun Nov 24, 2013 12:04 pm

I continue to be impressed.
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Re: Rental Leases

Post by Fastfox on Sun Nov 24, 2013 12:07 pm

"They would still want a personal guarantee of a natural person to avoid roaches who might try to skip out and not pay or damage the property."

Yes, that does make sense. I think prepaying the lease would probably resolve all those concerns. Then, of course, not all landlords would be unfamiliar with this type of entity.
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Re: Rental Leases

Post by Fastfox on Sun Nov 24, 2013 12:10 pm

Slainte39:
Thank you for those suggestions and the feedback.
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Re: Rental Leases

Post by Axixic on Sun Nov 24, 2013 12:11 pm

Fastfox wrote:"I think prepaying the lease would probably resolve all those concerns.
You would think so but when I offered to pre-pay my 12 month lease the landlord specifically did not want me to. I don't know why; would have thought they'd be thrilled by the idea.
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Outcome

Post by Fastfox on Sun Nov 24, 2013 12:16 pm

Axixic:
So what was the outcome in your case (if you don't mind saying)?
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