Are you thinking of moving to Panama? Or are you able to work remotely and looking for your next longer-term rental stay? Or perhaps you’re one of the increasing numbers of Panamanian residents looking for a beach community in which to live for a while. Then looking at long-term rentals in Coronado, Panama, Gorgona, or nearby Punta Chame is something you’ll want to consider. Even if you’ve already spent a few vacation trips here, long-term rentals in Panama are pretty different from short-term vacations. We’ll discuss how to find long-term rentals in Panama and what you need to consider before agreeing to your long-term rental in Coronado, Gorgona, Punta Chame, or elsewhere.
And we provide a free 29-point checklist to help you find ideal long-term rentals in Panama. Email us at rentals@vacationhomerentalsinpanama.com for your free guide, or send us a message via WhatsApp.
Or email us at rentals@vacationhomerentalsinpanama.com
Panama Long-Term Rentals
So, you’ve stayed at a vacation rental for a few weekends or even a week or two. And you enjoyed it so much you are looking to stay longer this time. Long-term rentals in Coronado, Panama, and the surrounding areas are becoming more popular. And different types of people are searching for them. This includes
- remote workers
- those interested in buying property
- snowbirds, and
- residents looking to get away to the beach from Panama City
Currently, demand for long-term rentals in Panama is high. Especially in beachside locations in safe and secure communities. While there has been an increase in apartment buildings constructed over the last 10 years, demand is still outstripping supply.
Long-Term Rentals for Remote Workers
Remote workers are a growing trend all over the world. The recent Covid-19 pandemic accelerated this trend. And businesses are much more amenable and supportive of their employees working remotely. You can live on one side of the world and work for a company on a different continent. But remote workers have some distinct requirements when looking for a place to call home for several weeks, or months, at a time. For example, internet bandwidth and reliability are the #1 priority. You may also need access to reliable business support services such as printing or office supplies. And you will want to find a place with suitable working spaces. Oh, and one that is quiet and not full of party-goers 24/7. The long-term rentals in Coronado Panama or the surrounding area, for example, have the services you need.
At Ocean Breeze Panama, for example, apartments just outside Coronado and in Casco Viejo (Panama City), the apartments are specially outfitted for remote workers.
For information on long-term rentals in Playa Punta Chame, or Casco Viejo, you should contact the owner directly. They will provide reduced rates from those posted on long-term rentals of a month or more.
Or email us at rentals@vacationhomerentalsinpanama.com
Long-Term Rentals In Panama for People Buying Property
People from all over the world come to Panama, fall in love with it, and buy property here. Some do it sight unseen and buy over the internet using an unknown middleman. But the smarter ones do their due diligence and come to stay for several weeks or months at a time. This allows them first to explore several areas. Staying in long-term rentals in Coronado, Pedasi, or other places nearby.
Long-term rentals in Panama can allow you to appreciate things you would like to have in a property before purchasing it! Thus, changing some of the criteria you might be looking for. Finally, staying in a long-term rental in Panama can allow you to look at many properties and become familiar with the real estate market here.
Potential real estate buyers often look in many locations across the country before they narrow down their selection. At that time, you must spend at least a few months in long-term rentals in Panama in the general location you are interested in buying a property. This allows you to get a feel for the area, the climate, the activities and way of life, and the many types of properties that you might consider buying.
As this is Panama, being on or near the beach is usually a priority. Unless you want to stay in Panama City or the mountains of Boquete, San Felipe, or Altos Del Maria.
Potential buyers, especially ex-pats, are often interested in a secure and safe neighborhood or community. And while most of Panama is very safe, the added security and comfort of a secure community are very beneficial for ex-pats.
Buying property here is very different than in North America, the UK, or Europe. Another factor that’s equally important is finding a reliable and trustworthy realtor to help you through the process. Contact us if you are looking for reliable and trustworthy realtors in Panama, and we can provide recommendations for you to consider.
Or email us at rentals@vacationhomerentalsinpanama.com
Panama Long-Term Rentals for Snowbirds
Like those looking to buy property, Snowbirds often look for a place to stay outside of the hustle and bustle of the party scene. Snowbirds are usually looking for Panama long-term rentals with some of the comforts of home, such as modern appliances, a washer-dryer, and a good kitchen. They want a place where they can relax and feel safe and secure while also being close to activities, amenities, and the beach. This is one of the reasons long-term rentals in Coronado Panama and the surrounding area are popular with snowbirds.
Snowbirds are often interested in long-term rentals in Panama for 3-6 months or more. And usually over the high season Fall and Winter months. As a result, finding an owner who wants to forsake guaranteed short-term rental income in the high season can be challenging.
Many snowbirds also want long-term beach rentals in Panama. And that is certainly possible and is more affordable than in many other parts of the world. But these are still more expensive than those in non-ex-pat rural areas.
Long-Term Beach Rentals For Panama Residents
About 11% of the population of Panama lives in Panama City. And the 500,000 Panamanians living in the City love to go to the beach on weekends, national holidays, and vacations. While the national sport here is baseball, the national pastime is hanging out at the beach with friends and family, a cooler of cold beer and food, and listening to some tunes.
And while Panama City is a beautiful, modern metropolis, it lacks the fabulous beaches of much of the rest of the country. So Panamanians go to the beach whenever they can. But as remote work is becoming more accepted, they are also beginning to stay longer than just for a weekend. Some are looking for long-term rentals in Coronado Panama and the nearby beaches, such as Playa Caracol on the way to Punta Chame.
Differences Between Short, Monthly, And Long-Term Rentals
You are familiar with short-term rentals, but what is considered a long-term rental? And what are your options? This depends on how long you want to stay. Anything under a 3-month stay is a short-term rental. But, some rental owners also offer monthly rates. For example, Ocean Breeze Playa Caracol offers monthly and long-term rental rates if you contact them.
The main difference is the price you will pay. For a short-term stay (less than 1 month), you may get a small discount if you stay for 2 weeks instead of 2 days. For example, a 10% discount if you stay 2 weeks. Often it is season-dependent, and discounts are less common during high season and holidays. Also, depending upon the policies of the rental owner, you may have to pay a damage deposit.
For a stay of 1 or 2 months, you will often be able to negotiate a more significant discount. Typically, 20-30% off the standard short-term rate. Depending upon the rental owner, you may also have to pay utilities on top of these. The cost of utilities is included in the rental price for short-term rentals.
For a stay of 3 months or more, and definitely, for stays of 6 months, you will receive a more considerable discount. Often 40-50% off the short-term rates. Added to this will be the cost of utilities. For long-term rentals in Panama, you will also have to pay a damage deposit, which is refundable depending on any damage that may have occurred. Also, if you want to take your pet alone, you may have to pay an additional pet damage deposit or pet cleaning fee. And it’s pretty common to have to pay the last month’s rent and the first month’s rent on booking long-term rentals in Panama.
Advantages Of Long-Term Rentals In Panama
There are many advantages to long-term rentals in Panama over short-term options. Including
- Much more affordable per night than short-term rentals
- You can get terrific deals in low-seasons
- You get to live more like a local
- You can explore at your leisure – you don’t need to cram everything in and do it all in a week
Disadvantages Of Long-Term Rentals In Panama
While Panama long-term rentals have many advantages, there are also some disadvantages and things you’ll need to be aware of.
- You need to factor in the cost of utility bills – but this depends on your usage. If you are in a place where you can open the windows and generate a cross breeze, you don’t need to use the A/C as much, and your bills will be low
- If you don’t like the area or the building, then it’s hard to get out of a booking
- You will have to do the cleaning unless you pay extra for a cleaning service
- You’ll have to do laundry, so make sure you find a place with a washer-dryer
- Finding a long-term rental in Panama, especially in the winter/high season, can be challenging. Owners can make in a week to ten days what you might want to pay for a month. Thus, they are reluctant to pass up guaranteed short-term rent in the high season. So begin your search early and be prepared to book several months in advance
Other Considerations For Long-Term Rentals
Language
With long-term rentals you often have to take care of many chores and necessities of living in a property. And some of that entails communicating effectively with tradespersons, Wifi and telephone technicians, electrical, gas, or water utility personnel, etc. If you’re an ex-pat and aren’t fluent in Spanish, your ability to communicate is reduced.
And while for many people learning Spanish, it’s great to practice with people, it’s not in an emergency. Or, in a situation that needs to be resolved, that’s more complex than ordering lunch or wishing someone a good day. That’s when staying in Panama long-term rentals in a community setting where there are maintenance people, gardeners, security personnel, etc., can be a great help. Then you don’t need to try to understand complex issues in a language you are barely familiar with. These issues will be dealt with by the management company running that community or development.
Beach Access Or Convenient City Location
As you’re staying for several months, your Panama long-term rental doesn’t have to be on the beach. But if it is, it helps! At least you’ll likely want to be accessible to some great beaches. In Panama, there is often public access to the beaches. And while there are a few beaches you can only access by staying at a particular resort or community, it’s not as restrictive as in some other countries. Often access to the beach is more restricted by the dense jungle than anything else.
Alternatively if you’re wanting to stay in the city then you want to look for a place that is conveniently located. If you stay in the heart of areas like Casco Viejo you will pay a lot more for your accommodation. However, if you stay on the edge of Casco, prices are more affordable, but you still have access to everywhere within a 5 minute walk. For example, this apartment is on the edge of Casco Viejo and provides a much more affordable option for a long-term stay
Accommodation Facilities
When staying in a long-term rental in Panama, you will want to ensure that your accommodation is well-equipped. A hot plate or microwave and a bar fridge might be ok for a week or two, but it won’t suffice for 3 months or longer.
Other things to consider are, do you have a washer-dryer, or are you within walking distance of a laundrette? Is the kitchen modern and has appropriate appliances, such as a large fridge-freezer? Do you want an oven? And you should make sure you have an excellent quality cooktop. If possible, a gas cooktop will be cheaper than electricity for your utility costs. As well, what’s the kitchen equipped with? The last thing you want to do is to have to go out and buy bowls, whisks, can-openers, salad bowls, serving platters, cutting boards, a quality knife-set, etc., etc. And do you have access to a BBQ? Many buildings don’t allow BBQs on the balconies, but a few buildings have an outside area with a bbq for guests and owners.
And don’t forget to ask about parking and Wifi? Is parking available and accessible? And what’s the internet connection like? Can you get the internet where you are? How many hours a day can you receive the internet?
Building Amenities
Also, a consideration is the amenities offered in the building. For example, what’s the pool like? Are there other outdoor areas, such as tennis or paddle ball courts? Perhaps a place for beach volleyball or soccer? Are there areas with hammocks for you to relax in or beach cabanas to enjoy? Maybe a children’s play area for the kids?
Pets
Some rental owners don’t allow pets of any sort. Some will allow small dogs, but often not large ones. If you plan to take your pet with you during your long-term rental stay, you will find it harder to secure accommodation. And you should expect to pay extra, or at least a pet damage deposit.
Availability Of Long Term Beach Rentals Near Panama City
The closest beaches to Panama City are about 75 mins away on the southern coast. Here you’ll find the original beach town of Coronado, Gorgona, and the new kid on the block, Playa Caracol.
Long-Term Rentals In Coronado Panama
A decade or more ago, the number of condos and vacation rentals in Coronado exploded. But that has slowed drastically in the last decade – particularly in recent years. And as more and more tourists, ex-pats, and residents from Panama City arrive, the demand is now outstripping supply. While it was the first proper beachside town in Panama and the closest to Panama City, there are now other options.
Long-Term Rentals In Gorgona Panama
Gorgona Panama is a few minutes closer to Panama City than Coronado. In recent years it has experienced some growth in properties. Still, many of the projects leave a lot to be desired from a planned community development perspective. Also, many of these are being rented only as short-term vacation rentals, not long-term rentals in Gorgona, Panama.
Long Term Rentals At Playa Punta Chame
Playa Punta Chame located at the Playa Caracol project has recently emerged as the top new beach destination in Panama. While it’s still developing, it has a fantastic white sand beach, and the community has excellent amenities. Before getting to Gorgona or Coronado, turn off the Pan-American highway towards Punta Chame. While most apartments aren’t rented out, there are a few Panama long-term rentals. It’s worth looking into for sure.
Long Term Rentals In Casco Viejo, Panama City
Long-term rentals in Panama in Casco Viejo, the old town of Panama city, are available, but they are quite expensive for this UNESCO World Heritage Site. However, you can still find more affordable options located on the edges of Casco Viejo near Santa Ana. For example, at this Airbnb listing monthly rentals are much more affordable. Not only is the apartment in a newly constructed building (a significant advantage) but it is still within a 5 minute walk of most areas of Casco Viejo.
Or email us at rentals@vacationhomerentalsinpanama.com
Prices Of Long-Term Rentals In Panama
Long-term and monthly rental rates vary based on their location. And if it’s high or low season, how well furnished they are, and the size of the accommodation. But, in general, for 2-bedroom apartments, with a pool, and good Wifi, in safe communities/neighborhoods, you can expect the ranges listed below.
Beachfront:
Coronado Panama rentals long term $1,200 – $3,500 USD per month
Gorgona Panama Long-term rentals $1,150 – $3,000 USD per month
Playa Punta Chame Panama Long-term rentals $1,250 – $3,000 USD per month
Of course, some properties can be found that are less expensive, but there are often many trade-offs that most people aren’t prepared for. Including insects from jungle locations, greater incidence of crime, fewer amenities, poor internet connections, and less modern and well-equipped accommodations.
Pricing of long-term rentals in Panama for a one-bedroom apartment in Casco Viejo also vary greatly. Most one bedroom apartments in the heart of Casco Viejo are between $2,500 – $4,500 / month. However, on the edge of Casco Viejo you can find some great deals for $1,500 – $2,500 / month.
Utility Costs For Long-Term Rentals
Besides the monthly rent, utility costs will be added to long-term rentals. Many property rentals will bill you an amount after they receive the utility costs. Some, however, will charge you a flat fee per month which they add to the monthly rent. This simplifies payment. If your usage is significantly more than the amount you have been charged, you will be billed for the difference.
Utility costs for Panama long-term rentals can vary a lot. Usually, the most expensive item is the amount of electricity used. This is often due to how much you use the A/C. As well, gas is often cheaper. So finding a rental with a gas stove/cooktop, which uses gas to heat the hot water, and run the dryer, can be less expensive.
A typical range of utility costs is $30 – $50 per month. But if you open the windows and generate a cross breeze so you don’t use the A/C, they can be less than $10/month.
Or email us at rentals@vacationhomerentalsinpanama.com
Damage Deposit
Policies for the amount of damage deposit charged also vary. The most common is an up-front payment of 50% of one month’s rent.
Final Thoughts – Long-Term Rentals In Panama
There are many factors to consider when looking for long-term rentals in Panama. These include considering the lifestyle you want, cost, amenities, safety, internet connection, access to beaches, and much more. Now you have some great insights to consider when examining places to stay. And if you need a reminder, contact us and we’ll send you our popular 29 THINGS TO CHECK BEFORE SIGNING ON TO YOUR LONG-TERM VACATION RENTAL to help you select the best long-term rentals in Panama.
If you would like a quote on a specific accommodation type, email us at rentals@vacationhomerentalsinpanama.com or contact us via WhatsApp.
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