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Warnings about buying condos in Belize

It appears that certain developers are building and selling condos to purchasers from the US and beyond. The prices are advantagous and some are still in pre-constructions with certain buildings still not completed after 5 or 6 years. It appears that the purchasers have not fully read their contracts, as they are not allowed to rent out the condo or indeed give it away to their extended family (cousins etc) or friends without paying the management company between 40 and 60% of what the management company deems the rent *should* be.

The management company, of course is also the company that built the condo and it seems excessive that people cannot have family and friends stay on our beautiful island for free. A recent incident at a well known yacht club was that people arrived having known the owners for 30 years, and had been given the use of the condo for 3 months as long as they paid the utilities. They were not allowed to check in, albeit that the management company had said that they hadn’t been informed of the arrival. The management company also wanted over $8,000 USD for the guests stay.

The owners of this apartment had not put their apartment in the rental pool, and yet they are still not allowed to have people stay there. The AD thinks that if you own a condo and you are not in a rental pool, surely you have the right to give it away to friends, family etc.

What are your actual rights as a condo owner? Please note that the majority of condo complexes are run very professionally with many happy owners.



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