It is really important to keep on top of your utility bills in when living in any Mexico town. Thankfully, Mexico is moving with the times in terms of online payments and easy regular charges to credit cards and the like, but it is still better to keep a firm grip on your expenses. You really don’t want to find that you forgot to pay your electric bill in the height of summer and are now suffering the heat with no air-con while you wait to be reconnected (for a charge or course!)
Keep Utility Bills in your Name
Generally speaking, your utility bills will be transferred over to your name when you buy your property in Riviera Nayarit, Banderas Bay, Mexico but if this doesn’t happen all you have to do is get the previous owner to sign a letter which authorizes the change over and show this to the relevant utility companies.
What Utility Bills Can you expect in Riviera Nayarit and Banderas Bay?
- Your bills in Riviera Nayarit and Banderas Bay are as follows:
- Your telephone and cable bills will generally come monthly as well as your condominium maintenance fee which will usually cover your gas and water too. Be sure to ask your building administrator, though!
- Your electricity bills will come every second month and your ‘predial’ (property taxes) will be paid annually. You do this by taking a bill, or a copy of your deed (escritura) to the City Hall near the main plaza and providing your Cuenta Catastral (property tax ID). You can also pay online and if you pay in January or Feb# you’ll generally get a discount.
- Finally you must remember to pay your Bank Trust annually; they won’t send you a bill for this as it’s your responsibility to pay, so we recommend that you mark the date on your calendar (the date will typically be the anniversary of the closing when you purchases your property in Riviera Nayarit).
How do you Pay your Utility Bills in Riviera Nayarit?
In order to pay your Utility bills, set up a standing order or direct debit, you will need a local bank account. To do this, you will be required to provide a photo ID (usually your passport and your Mexican immigration card), one of those bills we talked about earlier with your address on it (if you don’t have a current utility bill, you can take the deeds to your new property or rental agreement).
Choosing the Right Bank in Banderas Bay
Our advice would be to choose a bank that allows you to pay your bills online as well as a focus on good (bilingual) customer service. If you approach your local branch and see a huge line and only one teller on duty in the middle of the day, you might want to find another bank.
You should also check with your building administrator to see if there is an insurance policy covering major damages, but we would recommend you take out your own policy too. This way you know that your contents are covered. Keep in mind that your policy will be written in pesos, however, so you’ll need to double check that your getting the right amount of cover.
What happens when you go away?
If you’re going to be away from your Riviera Nayarit home for long periods of time your utility bills will still need to be dealt with, but never fear; there will generally be an option to pre-pay all your bills in advance! And if you’re worried about covering the dual costs you can always rent out your Banderas Bay pad as vacation accommodation while you’re away. The rent generation will definitely cover the costs and might even leave you with a little extra.
Taxes on Rental Income
Now, some people may tell you that if you’re renting your property and collecting the money in the USA or Canada you don’t have to pay tax. This is entirely incorrect; any earnings are taxable in Mexico. So make sure that you register with the Mexican Tax Authority “Hacienda” and declare all your earnings. This way you can stay on their good side. If you don’t you could find your property having a lien, or worse, put on it.
Property Managers in Riviera Nayarit and Banderas Bay
If all of the above and utility bills sound like a huge amount of work and very little fun then you should consider hiring yourself a property manager. They can take care of everything from maintenance to finding tenants, repairs to evictions and they can eve suggest improvements to make your property more attractive to prospective tenants. These bilingual geniuses can ensure that your time in your Puerto Vallarta property is stress free and enjoyable.