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Residencias Los Jardines - Life & Times

ISSUE #765: June 16-23, 2019

VACANCIES & PROBLEMS...

Brian Timmons, Newsletter Author
Brian Timmons

Dear friends,

When I started Residencias Los Jardines, I started writing a weekly newsletter -determined to tell all the good, bad, and the ugly. I knew some readers would be interested in the construction process. I expected others might be interested in the lifestyle of two people who had decided to live outside the box. For others, the adventures of Lita, the parrot and the cat took on an entertainment saga all its own.

Residencias Los Jardines is finished. We periodically have re-sales and rental availability. Some readers may be interested in this information.

Brian Timmons
Developer / Property manager
Residencias Los Jardines

Web: http://www.residenciaslosjardines.com
Emails: info@residenciaslosjardines.com
ResidenciasPropertyManagement@gmail.com

 
Featured
rentals & sales

Paradisus Condos / Rohrmoser
FOR SALE / RENT
Visit our website

Paradisus Condos - click to visit

Each of the units consists of two bedrooms / two bathrooms, and a large living/dining/kitchen area. The floor plan of each of these units has eliminated the optional "den / office" divider. The result is a larger area offering more flexible furniture arrangements while still maintaining the option of including an office area. At 105m2 plus two parking spots each and storage locker, they offer a great opportunity for someone seeking views, security, central location, and first class, all round living...

PRICE REDUCTION
Semi furnished unit: For sale: $235,000
Fully furnished unit: For sale: $245,000
Floor 12 -west view

 
Market activity
sales & rentals

Sales: Los Jardines: Units #114, #116 and #124

Rentals:

Paradisus: Nothing available

Los Jardines: Units #106C, #106D, #113 and #116

 
Residencias Los Jardines
property management, rentals & re-sales

FOR SALE
Unit #114: $ 199,000 / See Unit
Unit #116: $ 195,000 $ 189,995 / See Unit
Unit #124: $ 125,000 / See Unit

FOR RENT
Unit #106C: $ 950 mo. / Available immediately / See Unit
Unit #106D: $ 1050 mo. / Available immediately / See Unit
Unit #113: $ 1,200 mo. / Available immediately / See Unit
Unit #116: $ 1,250 $1,195 mo. / Available immediately / See Unit

For sale

UNIT #114
FOR SALE
$ 199,000

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-Attached
Furnished: Yes

This 2 bedroom/2bathroom,1,290 sf single floor end unit home includes a 150 sf front terrace plus parking for one car. This house is fully air conditioned and has recently been professionally decorated by international decorator Alcides Graffe and has undergone a complete renovation—new modern furniture, finishings, window coverings, and art work by Carlos Gambino. It is arguably the nicest furnished unit at Residencias Los Jardines and only steps from the pool

UNIT #116
FOR SALE
$ 195,000 $ 189,995

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-Attached
Furnished: Yes

This 1,290 sf single floor home includes a 300 sf front terrace plus parking for one car and a separate, secure storage locker. It is and end unit and therefore attached on only one side by a 6 inch cement demising (common) wall, which prevents sound transfer.

UNIT #124
FOR SALE
$135,000 $ 125,000

Total Area (Sq Ft): 662
Total area (Sq M): 61
Bedrooms: 1
Bathrooms: 1
Floor(s): 2nd Floor
Type: Semi-Detached
Furnished: Yes

This 662 sf, + covered parking for one car, is a one bedroom home on the 2nd floor overlooking the large pool. It is ideal for a single person or couple.

For rent

UNIT #106C
FOR RENT
$ 950 mo.
Available immediately

Total Area (Sq Ft): 1250
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: 4-plex
Furnished: Yes

This is a fully furnished 2-bedroom unit situated in a 2-story building, which has two units on the ground floor and two units on the 2nd. floor. Each unit is the same size (1,250sf) divided into 800 sf of interior space and 450 sf of covered front and back terraces. Units 106A and B are on the ground floor; Units 106 C and D are on the 2nd. Floor. The solid masonry demising wall (common wall) as well as the 5” concrete slab prevent sound transference.

UNIT #106D
FOR RENT
$ 1050 mo.
Available immediately

Total Area (Sq Ft): 1227 + parking
Total area (Sq M): 113 + parking
Bedrooms: 1 + den (bedroom possible)
Bathrooms: 2
Floor(s): 2nd. floor
Type: 4-plex
Furnished: Yes

This 2nd story, 1,227 sf (113 m2 + one parking space) is a georgous home with one of the best views at Los Jardines. The very large front covered terrace faces east and is suitable for entertaining; the off-bedroom covered terrace faces west for sun sets. This very tastefully furnished and fully equipped home offers a lifestyle envied by many.

UNIT #113
FOR RENT
$ 1,200 mo.
Available immediately

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-attached
Furnished: Yes

This 1,290 sf single floor home includes a 300 sf front terrace plus parking for one car. It is attached on one side by a 6 inch cement demising (common) wall, which prevents sound transfer. The three other sides allow light, ventilation and garden views.

UNIT #116
FOR RENT
$ 1,195 mo.
Available immediately

Total Area (Sq Ft): 1290
Total area (Sq M): 120
Bedrooms: 2
Bathrooms: 2
Floor(s): 1
Type: Semi-attached
Furnished: Yes

This 1,290 sf single floor home includes a 300 sf front terrace plus parking for one car and a separate, secure storage locker. It is and end unit and therefore attached on only one side by a 6 inch cement demising (common) wall, which prevents sound transfer.

 
Our Lives

Rainy Season... in our area, we have had little rain this past week... in fact, we are back to watering.

What Happened This Week

Vacancies: Los Jardines has the following vacancies: 102, 106C, 106D, 108, 111, 113, 116, 121, 123. I had one viewing, no other calls all week, in fact, all month. in fact for the past several months... The one client made a half-hearted offer which I was willing to accept then lowered the offer (as was normal for his nationality)... some of these vacancies have existed for quite a while.

INS Decision: Still waiting. Supposedly the decision had to be made within 60 days of having received final arguments. Is that "business days", "calendar days", or "working days"... and if it is like any government mandated time limit, it is regularly exceeded with impunity. so who knows... but as I have said, it doesn't really mean much since INS has appealed to the SALA 1 for annulment of all cases... and that will take a tico year...

Problem: Loan gone bad... again... I have had to do this three times before and now it will be #4. The borrower ran four tico style apartments into the ground, lost his tenants, and now cannot pay. That is where I come back in... trying to figure out the quickest exist plan...

Taxes Laws: Getting closer to implementation -supposedly July 1/ no closer to clarity... chaos reigns. The accounts we have hired are clueless... wow!!!!!! ticos do not seem to be too concerned about it..perhaps because they are not going to comply... or just know that the implementation will be delayed or so chaotic that years will pass before being sorted out...

 
News Items of the Week

COMMENTS

1. Foreign Investment: Without foreign investment, CR's economy is in big trouble...and that is what is beginning to show up now... thus, (in my opinion) the reason for central bank stimulation...forgive credit defaults, increase credit, lower interest rates...

2/3. Monetary Policy: Yes, this is part of the "stimulus".

4. Teachers: A third are still playing hooky... wow... what a useless bunch of government employees...

1. Foreign investment fell 22% last year

According to data from the Central Bank, Foreign Direct Investment (FDI) that reached Costa Rica in 2018 was $2,134 million, that is, 22% lower than in 2017. The previous year, it was $ 2,742 million.

The main drop was in tourism projects, as the arrival of capital went from $443 million in 2017 to $23 million last year, according to the Central.

The complicated international panorama with a slow economy and the complex situation of the country especially in the second half of the year could explain this fall.

However, in 2018, companies with foreign capital generated 12,961 jobs, of which 850 were in areas far from the capital, according to the Costa Rican Coalition for Development Initiatives (Cinde).

20 new companies arrived and another 24 reinvested in Costa Rica.

The results obtained during 2018 fill us with satisfaction; even more, if one takes into account the complicated national and international situation in which the work was carried out. Cinde managed to reach the historic figure of 48 investment projects,” said Jorge Sequeira, director of the entity.

The figure of FDI seen in 2018 is similar to that of 2016, when it reached $ 2.2 billion.

crhoy.com

2. Monetary Policy Rate reaches levels not seen since 2017

With the reduction made by the Central Bank to the Monetary Policy Rate (MPR), this indicator reached levels not seen since November 2017. It went from 4.75% to 4.50% and became the third reduction to this indicator so far this year. In fact, in January, the indicator was at 5.25%.

The measure responds to low economic activity, unemployment and slow growth of credit, which, according to the Central Bank, are taking inflation down, which is counterproductive for the desired economic recovery.

On the other hand, this initiative also seeks to encourage a greater appetite for credit.

This is an additional measure of monetary stimulus that seeks to promote greater growth of the economy and use of its resources, including human resources. It is a measure that is added to others announced in recent days, including the reduction of the minimum legal reserve on deposits in colones and flexibility of certain prudential supervision rules that could lead to greater demand for placement in the private sector,” said Alberto Franco, economist of Ecoanalysis.

The movement should not take the market by surprise, because in a context of low economic growth, unemployment and inflation, the issuing entity uses its monetary policy instruments to stimulate the economy.

Of course, these movements will not be transferred immediately to other financial institutions.

According to the Central Bank, the MPR seeks to influence monetary and financial variables to achieve specific objectives, which in the case of Costa Rica, are limited to low and stable inflation.

crhoy.com

3. BCR lowers interest rates for SMEs and housing

The Bank of Costa Rica (BCR) announced a 60-basis-point reduction in its interest rates for small or medium-sized businesses and from 50 to 80 basis points for housing.

We are incorporating an attractive package for the different sectors, in support of the process of economic reactivation in the country, thanks to the recent measure promoted by the Central Bank of Costa Rica to reduce the minimum legal reserve,” said Douglas Soto, general manager of the BCR.

The adjustment in the minimum legal reserve will allocate funds close to ¢72,000 million in these programs. With this, the Bank of Costa Rica hopes to continue contributing to the economic development of the country.

The offer:

Housing

- 25% is reduced in the formalization commission, remaining at 1.50%. In addition, a nominal 0.10 reduction will be applied if the customer purchases the following products or services: automatic savings, credit card, OPC or automatic charges for payment of services.

- People who receive salary or pension deposit in BCR accounts, get an additional discount percentage.

SMEs

- For this segment, the formalization commission will have a 50% to 1% decrease. Less than 0.10 nominal when acquiring the following products or services: automatic savings, credit card, OPC or automatic charges for payment of services.

The BCR is the third bank that announces a decrease in its rates, after the BAC and Banco Nacional.

crhoy.com

4. Cooperatives to raise 4% in electricity costs to families that will not pay VAT

The cooperatives affiliated to the Chamber of Energy Distribution and Telecommunications Companies (Cedet) will increase electricity rates by 4% to families that are exempt from VAT, that is, those that consume less than 280 kw/h.

About 73% of the families with the lowest incomes would suffer this surcharge , which would be charged after the VAT is in force.

Some the companies that would raise their rates are: CONELECTRICAS RL, COOPEGUANACASTE RL, COOPESANTOS RL, COOPEALFARORUIZ RL and COOPELESCA RL, the Public Services Company of Heredia (ESPH) and the Junta de Servicios Eléctricos de Cartago (JASEC).

The increase is due to the fact that the suppliers of the service must pay 13% of the VAT to the Treasury for all their electricity purchases every month, without returning the ex-ned proportion of the same 13% of the VAT to the households with consumption lower than 280 kWh.

Therefore, the providers must absorb this charge in their finances and this translates into an increase in the rates for all users, including those exonerated.

Cedet asked the Treasury to create a mechanism in the Value Added Tax Regulation that would allow that part of the VAT is returned by a monthly procedure that would mitigate the financial imbalance and thus prevent it from becoming larger. However, the Treasury did not consider it and said decision would oblige the distributors to ask Aresep for an increase in the rates to cover that shortfall,” said Allan Benavides, president of the Chamber.

crhoy.com

5. About 31% of teachers have been absent due to strikes

According to the Ministry of Public Education (MEP), between 31% and 26% of officials were absent during June 18th and 19th due to strikes.

The data reported by the 27 Regional Directoratess shows that on Tuesday there were reports of absences in 1,892 schools, which represents 35% of the total number of educational centers. These institutions reported 43,262 officials, of which 13,765 were absent.

On Wednesday, a total of 2,035 (38%) educational centers sent reports of absences. Of the 42,205 officials reported, 11,145 were absent, that’s equivalent to 26% of the total.

The MEP maintains the call to teachers and administrative staff to stay in the classrooms without affecting the educational service for thousands of students.

crhoy.com

 

FOR RENTAL OR SALES INFORMATION
ON ANY OF THE ABOVE, CONTACT:

Brian C. Timmons
Property Manager RLJ and Newsletter Author

Costa Rica:
Cell: (+506) 8-455-59-35
Land line: (+506) 2282-4142 Ext. 101

Canada:
VOIP: (+416) 461-2203

Web: http://www.residenciaslosjardines.com
Emails: info@residenciaslosjardines.com
ResidenciasPropertyManagement@gmail.com

 

Top

Contact phone numbers

Internet Phone:
Toronto: 416-461-2203

Costa Rica:
Cell: (506) 8-455-59-35
Land: (506) 282-4142 Ext. 101

NOTE: Toronto number is "local call" for people in the area code; calls from outside the area code will be billed at the normal rate from the caller's area code.