Long-Term Rental Payments
All Long-Term Rental payments require payments of rent and a fully refundable security deposit. This varies depending on the property.
All payments must be paid for via a bank deposit to a Guatemalan bank account in Quetzales or US$ dollars. If the owner of the property happens to have a bank account with a bank that is recognised by Xoom.com (Banco Industrial, GyT & BanRural), 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 (cash pick up is not accepted).
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. This is all a part of our Payments & Cancellation Policy.
Fully Refundable Security Deposits
Security Deposits are almost always required to cover damage, breakages, non-payment of bills, and
non-fulfilment of contracts. They are usually equivalent to a month’s rent.
A security/breakage deposit is generally requested for every rental period whether a vacation rental, monthly, 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.
For overseas tenants we sometimes request that you bring your security deposit in Quetzales cash 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. This avoid having to send money expensively via international wire transfer.
Cancellation Policy
Cancellation by the CLIENT
- We strongly advise renter/travellers to get travel and medical insurance BEFORE your trip to Guatemala.
- Bookings via AirBnB and VRBO have their own inbuilt cancellation policies.
- For bookings done directly with MLR then 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.
Monthly Rentals (1-5 months)
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. This is all in our Payments & Cancellation Policy.
Long-Term Rentals
(contracts of 6-12 months )
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 contract charge is paid for by the tenant, usually approximately Q300.
Generally, the first and last months are required by check in, along with the fully-refundable security deposit (usually equivalent to a month’s rent). To reserve a house at least the first month and security deposit are required. The third month can then 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 WILL 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.
Vacation/Short-Term Rentals
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.
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.
