RENTAL & SECURITY DEPOSIT PAYMENTS

RENTAL PAYMENTS

All rental payments must be paid for by a bank deposit in Guatemala of US$ OR, via an International Bank Wire Transfer in US dollars $. If the owner of the property happens to have a bank account with a bank that is recognised by Xoom.com, or one of the other transfer services, this can also be arranged, so long as the payment is in US$ and goes directly into the bank account.

Any payments paid for in Guatemala will need to be paid for via a bank deposit or online transfer to a Guatemalan bank account along with the security deposit. The security deposit will then be reimbursed to your bank account within a week of check out or at check out if necessary.

Security Deposits

(Deposits to cover damage, breakages, non payment of bills, and non-fulfilment of contracts)

A security/breakage deposit is requested for every rental period whether a vacation rental or long-term rental. Deposit amounts vary depending on rental period and the individual requirements of the property owner. All are fully-refundable breakage/security deposits that cover damages, breakages, non-payment of bills, and payment of rent if the full notice period is not adhered to (see Cancellation Policies below). The sum of the deposit varies from property to property, but is a minimum of $300 and for monthly rentals is usually equivalent to a month’s rent.

For overseas tenants we sometimes request that you bring your security deposit in Quetzales cash with you to pay on arrival at check in. It will then be returned to you in Quetzales at check out, following a check of the rental property.

CANCELLATION POLICY

Cancellation by the CLIENT

We strongly advice renter/travellers to get travel and medical insurance before for your trip to Guatemala.

Vacation/Short-Term Rentals

The cancellation of a short-term/vacation rental by the client must be made in writing (email will do). The date received will determine the cancellation penalty. Be sure to state the reason for your cancellation, as you may be covered by your insurance policy. In the cases where we are able to re-fill the booking, this will be taken into consideration.

• 60 days or more before arrival date full refund of rent money paid
• Between 59-30 days before arrival date 50% of rent money paid refunded
• 29-15 days before arrival date 25% of rent money paid refunded
• 14 days or less before arrival date rent money paid forfeited – NO refund.

NO REFUNDS of any kind will be available for no shows, late arrival, or early departure.

Monthly Rentals

On ALL monthly rentals, there is no refund of your security deposit if you leave your rental before your agreed check out date.

NO REFUNDS of any kind will be available for no shows, late arrival, or early departure.

Long-Term Rentals (contracts of 6 months to a year)

ALL long-term rentals will require a legal Guatemalan contract (it will be in Spanish), drawn up by a lawyer here in Panajachel, Guatemala, the price is paid for by the tenant, usually Q200-250.

Generally the first month and last month are required by check in, along with the fully-refundable security deposit (usually equivalent to month’s rent). To reserve a house at least the first month and security deposit are required. The third month can be paid for on arrival.

Cancellation of a Long-Term Rental by the client must be made in writing (email will do). Notice of termination must be made at least 30 DAYS (1 MONTH) PRIOR TO LEAVING DATE, OR THE NEXT MONTHLY PAYMENT DATE.

Generally, a cancellation fee of 10% is charged for the full remaining rent which will be deducted from the month’s security deposit of the rental agreement. If less than 30 days’ notice is given then the Security Deposit NOT BE REFUNDED. 

ALL OF THE ABOVE ARE NON-NEGOTIABLE – for this reason we emphasise again that it is extremely important to obtain travel and medical insurance before your travel to Guatemala.

Cancellation by MAYAN LAKE REALTY

In the unlikely event that we have to cancel a booking a FULL REFUND will be made, and we will endeavour to find you alternative and appropriate accommodation.