The biggest appeal of corporate housing or executive suites is that it's a home from home. A lot of business executives who come to Mexico are sometimes here on month-long stays and find the experience of staying in a cramped, sparsely-furnished hotel room that is located on the outskirts of a city unappealing.
In general, corporate housing suites are spacious, have all the benefits of an apartment or house and can work out cheaper than staying in a hotel. They are also situated near the city center offering the opportunity to walk to and from your work place and thereby allowing you to get to know the city you're living in.
Another big plus of corporate housing for the continuously travelling executive is that it allows spouses and children to accompany them on their trips. Guests can store and cook their own food, eliminating the need for expensive outside dining. Visiting executives can also entertain guests or hold private meetings away from the office.
In Mexico, the phenomenon of corporate housing is a relatively new one but it is growing rapidly with more developers funneling money into new projects especially in the nation's three major urban centers - Mexico City, Guadalajara and Monterrey. The industry itself made more than US$3 billion in 2007 globally and with a saturated hotel market that has certain drawbacks - location, space and cost - corporate housing is becoming a popular alternative for business travellers. The premise being that a relaxed and happy executive will work more effectively than a tired and depressed one.
Corporate housing is usually offered through real estate agencies and other property rental businesses. Extended-stay hotels and suites generally advertise their suitability for corporate housing as well. It may be especially helpful to work through a rental agency in order to get the best terms for temporary housing or short leases.
Benefits of Corporate Housing
Full sized, fully furnished apartments in deluxe apartment communities
For extended stays of 30 days or longer (short stays in select locations)
No long-term lease necessary
Basic utilities and phone service included
Extensive guest services available including maid service
Pursuant to the civil codes of each of the states of the Mexican Republic, in order for a lease agreement to be valid, it must be executed in writing. Although the civil codes of the states generally establish the obligations of the landlord, it is advisable that the following obligations be included in the lease agreement that is executed:
As was indicated, the restrictions on the acquisition of real estate by foreign individuals, foreign companies, and Mexican companies with foreign investment must be taken into account.
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Along with the above, it is equally important to determine the best location to acquire property in Mexico before making the purchase. In order to make that determination, the following should be taken into account:
Acquisition of real estate by foreign individuals or entities: The right of foreigners, whether individuals or entities, to acquire real estate in Mexican territory depends on the location of such real estate:
The city booms and has been registered as the fastest growing community in all Latin America. What's bringing people and the growth to this specific region of the Mayan Riviera? The main factor is coming from the increase in tourism, the increase in hotel rooms being constructed and therefore increases in employment.
For those brave souls who are building their home in Mexico, an important part of the process is the Manifestation. This is a notification made before the local property tax department. It signals the termination of the construction and tells the world that the houseis ready to be occupied.
Buying and selling property can be stressful. Here in Mexico it can be both stressful and challenging, As in any country, if you do your homework and use the service of a professional title service company, life will be easier for you. Unfortunately some sellers don’t have all their title documents in order.
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