Iván Cervera, vice-president of the Mexican Association of Real Estate Professionals (AMPI) of Mérida, called on the owners of summer properties to be aware of the risks of renting a property without a contract.
The businessman announced that due to the increase in the demand for housing rentals during the vacation season, mainly on the Yucatan coast, it is necessary for landlords to be aware of the risks involved in renting a property without a contract.
In case of not taking the appropriate legal measures such as the use of a contract, it may happen that the property could be used for illegal activities, which represents a risk for the owners, since if a tenant commits a crime, the property could be subject to the Extinction of Dominion Law, which allows the authorities to confiscate the property linked to a crime, which could result in the loss of the property.
In this regard, he recommended to property owners the use of formal contracts that establish the specific purposes of the rental and the responsibilities of the parties.
Among the recommendations also made by the vice-president of the Mexican Association of Real Estate Professionals (AMPI), was that property owners should have real estate advice in case of renting their homes during vacations.