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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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| Quote: | Originally posted by rts551
| Quote: | Originally posted by cabaja
That could be nice if you could charge what ever you like!!!!
So you are telling us for example you buy a house in a campo pay $100,000 for the house, you have it for 10 years the rent example: was $1,400 a
year..
Now your lease expires and you want a new lease (the property land got sold) you now have a NEW landlord and he says i'm raising your lease to $5,600
a year or $10,000 a year....
They can do this????????????? Don't think so there are Mexican Laws..
If that was the case now your house is worth maybe $10,000 or less because of the lease increase.... |
Why don't you think so? What law were you thinking of? |
I may be wrong, but my understanding is that any agreements for renewal at any price that are included in the original lease are NOT enforceable. And
that at the end of the 10 years, the land owner can charge what they want or not renew the lease if they so choose.
If there is a law that states otherwise, it would be good to know.
IMHO, it is risky business to buy a home on leased land, or in the name of another person, or as is happening in some places, to buy the land and put
it in some else's corporation and then pay that corporation an annual fee, because the titled owner can change things and you might be out to lunch.
We "owned" part of our property in the name of another person who we totally trusted and it worked out just fine, but we knew the risks.
Buyer beware --- absolutely
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StuckSucks
Super Nomad
Posts: 2307
Registered: 10-17-2013
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I see raising rent in Punta Final as just a piece of the "progress" pie. The paved road arrives in Gonzaga. There's a new Supermercado Gigante in San
Felipe. Alfonsina's adds a front gate and guard, has raised rates and is adding rooms. Rancho Grande has raised their rates.
The owner of Punta Final can probably smell all the cash a Hilton resort will generate on his spectacular location.
The infrastructure creeps southward and with it, higher prices.
For good or bad, things change, but for me, the worst is yet to come.
The good news is, for a while longer, we still know where we can go to hide from blacktop and tourists. It just takes a little more work to get there.
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brewer
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Posts: 419
Registered: 1-4-2011
Location: BCS
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Mood: Grateful
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| Quote: | Originally posted by bajabuddha
Rule # 2- (again) NEVER invest in Mexico what you cannot afford to walk away from. |
WORD!
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desertcpl
Super Nomad
Posts: 2394
Registered: 10-26-2008
Location: yuma,az
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the last time I went down, maybe 3 yrs ago,, I was amazed
at the remodeling going on,, a lot of new owners were buying
some of the older places and spending thousands
personally I hate to see this happening, my friend that has his place there is up in age now,
but what part of having only a 10 yr lease max,, don't they understand,
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
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Yes, very true. Holding your property in someone elses (or their business's) name can be more risky than a lease. The courts have found over and
over that this is not an enforceable agreement. You might trust them today but things and circumstances change....I know of one instance where the
owner on paper died, the property passing to the oldest child. that child demanded the people living on the land "purchase" the property or leave.
What if the cooperation dissolves? or there is a divorce? or heaven forbid someone dies? or you have a spat with your friend/owner? to many things
to go wrong and you lose it all.
| Quote: | Originally posted by DianaT
| Quote: | Originally posted by rts551
| Quote: | Originally posted by cabaja
That could be nice if you could charge what ever you like!!!!
So you are telling us for example you buy a house in a campo pay $100,000 for the house, you have it for 10 years the rent example: was $1,400 a
year..
Now your lease expires and you want a new lease (the property land got sold) you now have a NEW landlord and he says i'm raising your lease to $5,600
a year or $10,000 a year....
They can do this????????????? Don't think so there are Mexican Laws..
If that was the case now your house is worth maybe $10,000 or less because of the lease increase.... |
Why don't you think so? What law were you thinking of? |
I may be wrong, but my understanding is that any agreements for renewal at any price that are included in the original lease are NOT enforceable. And
that at the end of the 10 years, the land owner can charge what they want or not renew the lease if they so choose.
If there is a law that states otherwise, it would be good to know.
IMHO, it is risky business to buy a home on leased land, or in the name of another person, or as is happening in some places, to buy the land and put
it in some else's corporation and then pay that corporation an annual fee, because the titled owner can change things and you might be out to lunch.
We "owned" part of our property in the name of another person who we totally trusted and it worked out just fine, but we knew the risks.
Buyer beware --- absolutely |
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rhintransit
Super Nomad
Posts: 1588
Registered: 9-4-2006
Location: Loreto
Member Is Offline
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My understanding is that you can only raise rent 4% per year! don't know if that applies to leases. Folks in El Juncalito have sued and won based on
that but ultimately won, or are in court currently, because the "landlords" did not have the right to rent the (ejido) property. Whole thing started
when rents went up by 50% or more
[Edited on 8-7-2014 by rhintransit]
reality\'s never been of much use out here...
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
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Mood: Weary
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It's Mexico...Look at Punta Arena, Buenaventura..lotsa others. People love to quote that "Walk away" rule but after just a couple of years they have
built Palapas, Bodegas, patios, sleeping quarters and when the axe falls they squeal like stuck hogs. You might be able to win in a court over an
ejido dispute, if you have enough time and money, but is it really worth it? Leaves a really bad taste in the mouth. Not for me...I didn't come to
Baja for stress and litigation..
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larryC
Super Nomad
Posts: 1482
Registered: 8-11-2008
Location: BoLA
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The house I just sold in bola was on its second 10 year lease. the land owners wrote me a new 10 year lease when the first one expired and didn't even
raise the $1100 annual lease payment. So ultimately it depends on the family or person you are dealing with. Sad to hear about the rents in Punta
Final going up so much, but as others have said- it is the owners land and he can do what he/she or they want.
Larry
Off grid, 12-190 watt evergreen solar panels on solar trackers, 2-3648 stacked Outback inverters, 610ah LiFePo4 48v battery bank, FM 60 and MX60
Outback charge controllers, X-240 Outback transformer for 240v from inverters, 6500 watt Kubota diesel generator.
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weebray
Super Nomad
Posts: 1094
Registered: 7-19-2010
Location: La Paz
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Mood: lleno
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On our recent trip north we took a right at Chapala and after suffering the first 30+ miles of unpleasant but familiar rock pathways. (and an
unpleasant stop at Coco's corner) We were shocked and amazed at the super freeway they have built where not so long ago only burros trod. I remarked
how it just did not make economic sense for Baja Norte to invest huge (really huge) amounts of $ for a road to nowhere. Just like Hwy 1 south of San
Quintin, where is the economic benefit to BN to maintain the road? It's only there to provide a path for trucks heading south to bring stuff to La
Paz and Cabo. I remarked that it smelled like some dirt pimp developer was up to their old tricks. You 'all just answered my question..... BTW where
is punta final?
Every beautiful beach in the world needs a few condo towers - NOT.
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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Wait, Grasshopper, be patient and the truth shall emerge...
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weebray
Super Nomad
Posts: 1094
Registered: 7-19-2010
Location: La Paz
Member Is Offline
Mood: lleno
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On our recent trip north we took a right at Chapala and after suffering the first 30+ miles of unpleasant but familiar rock pathways. (and an
unpleasant stop at Coco's corner) We were shocked and amazed at the super freeway they have built where not so long ago only burros trod. I remarked
how it just did not make economic sense for Baja Norte to invest huge (really huge) amounts of $ for a road to nowhere. Just like Hwy 1 south of San
Quintin, where is the economic benefit to BN to maintain the road? It's only there to provide a path for trucks heading south to bring stuff to La
Paz and Cabo. I remarked that it smelled like some dirt pimp developer was up to their old tricks. You 'all just answered my question..... BTW where
is punta final?
Every beautiful beach in the world needs a few condo towers - NOT.
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David K
Honored Nomad
Posts: 64490
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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Punta Final is the south end of the Ensenada de San Francisquito, but everyone calls it "Gonzaga Bay" along with the true Gonzaga just north (which
some call "Willard Bay").
The 'resort' of Punta Final was originally a gold and supply shipping place called Puerto de San Francisquito, then a vacation village was started
under the name Villa Mar y Sol. When the real owner of the land threw them off (early 1970's), the name Punta Final was used for the new campo/
resort.
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
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It opens up an alternative route for the trucks traveling North!
| Quote: | Originally posted by weebray
On our recent trip north we took a right at Chapala and after suffering the first 30+ miles of unpleasant but familiar rock pathways. (and an
unpleasant stop at Coco's corner) We were shocked and amazed at the super freeway they have built where not so long ago only burros trod. I remarked
how it just did not make economic sense for Baja Norte to invest huge (really huge) amounts of $ for a road to nowhere. Just like Hwy 1 south of San
Quintin, where is the economic benefit to BN to maintain the road? It's only there to provide a path for trucks heading south to bring stuff to La
Paz and Cabo. I remarked that it smelled like some dirt pimp developer was up to their old tricks. You 'all just answered my question..... BTW where
is punta final? |
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brewer
Nomad
Posts: 419
Registered: 1-4-2011
Location: BCS
Member Is Offline
Mood: Grateful
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Does EVERYONE know where Punta Final is now.
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rts551
Elite Nomad
Posts: 6699
Registered: 9-5-2003
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I thought it was villa mar y sol based on the map I saw
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desertcpl
Super Nomad
Posts: 2394
Registered: 10-26-2008
Location: yuma,az
Member Is Offline
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| Quote: | Originally posted by brewer
Does EVERYONE know where Punta Final is now. |
yes
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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Maybe we could get some more maps...
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akshadow
Nomad
Posts: 287
Registered: 2-1-2007
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What will the yearly rates be after the increase? what are the sizes of the lots and are any services included?
If the rents are too high they will not beable to rent to new people. So that may determine if they are too high>
| Quote: | Originally posted by cabaja
***NEWS NEWS Police throwing out belonging at Camp***
The new landlord at PuntaFinal Kevin Choi has been wanting an increase in rents of 300%-400% when he took over or when the old leases expired..
PuntaFinal.com
Sad Sad day in history making!!!!
[Edited on 8-7-2014 by cabaja] |
Ron San Felipe Oct, Nov. Feb. Mar. April. remainder in Juneau Ak
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BajaBlanca
Select Nomad
Posts: 13165
Registered: 10-28-2008
Location: La Bocana, BCS
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David - thanks for posting the maps!
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freediverbrian
Senior Nomad
Posts: 615
Registered: 2-24-2007
Location: Papas Gonzaga Bay
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I am sorry to hear about the problems at PF . I hope that the owners are not greedy and looking for some fast cash , it is not there. A good road and
more people although enticing is not the answer to quick money. with no power and no water gonzaga is just a niche spot, just look at Puertecitos.
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