Panama, Casco Antiguo
Panama, Casco Viejo
Real Estate at Panama´s Historic District

With the moving of the regional headquarters of some important companies, the availability of rental apartments might be a bit short these days. Also, the process of the contract, signing and taking over the apartment might be stressful... and even worst, hooking up the utilities (phone, electricity and water in some cases) a true nightmare. So, how to go about renting in Casco Viejo?

First, set up your goals. You might find that a one bedroom for rent in Casco Viejo could be anywhere between $1000 to $1800 if nicely furnished and if includes some utilities. Two bedrooms tend to be more in the $1500 range, getting sometimes as high as $3000 for really nice apartments, furnished, with plaza or water views.

Second, be patient. Because of the limited amount of apartments, and because each building is so different from the other, you might not find the "exact right" one for you at any given time.

Third: count in the noise factor. While plazas are one of the prime areas to live in, they are also quite alive. They have restaurants, cafés, a lot of action. If you are not into "action", then consider an apartment that is on a secondary street, or an internal apartment.  Internal apartments are the most undervalued pieces of property I know. Because you don´t get "the view" people tend to set them aside. They are, however, wonderful to live in. They provide with privacy and wonderful silence at night. Some even have roof terraces, so you still get some views.

Number of levels: since these are restored colonial buildings, most of them don´t have space for elevators. This is a rare amenity. If you are in good health conditions and don´t mind stairs, the best views are always at the top. If stairs are an issue, then be sure to look into this detail.

Parking: for the same reason, most buildings don´t have private parkings as fasades are protected under the UNESCO World Heritage Site regulations. Parking in the streets is quite common, but you also have the option of renting a long term spot at the public parking space nearby the National Theatre. It will be guarded by the SPI or Presidential Police! no where in the world you get that privilege...

Utilities: Depending on the building it might or not include water and gas in the maintenance fee. The maintenance fee is always paid by the owners. If these things are already included, you don´t need to worry about it. If they aren´t, then most likely you´ll need to hook them separately. The ones that are definately separate are: phone, internet, electricity, Direct TV. One big advice about phones: be patient. Cable and Wireless is the company that hooks the service, and they tend to take 72 hours to even show up. You´ll need to present them a copy of the lease and of the cédula of the landowner. If the owner is a corporation, then a copy of the Pacto Social needs to be shown as well. Be sure you get all these documents at the moment of signing along with the keys and the method of payment for your monthly lease. Union Fenosa (known also as Edemet) is the company that takes care of the electricity in Casco Viejo.

Maintenance and Deposits: it is normal to ask for a one month deposit. This should be returned after the lease is over, that is, if you didn´t destroy the apartment. It is important that you return the apartment in good standing. Of course, they´ll be tear and wear... but try to keep it to a minimun.  If you break something it is basically your responsibility. If the damage is structural, then it is the owner´s responsibility.

Penalties: it is also common to loose the deposit if you don´t complete the period of your lease. If you pay late, most likely you´ll encounter a 10% penalty clause for the balance due.

I know all this sounds like a lot, but once under control, life is quite enjoyable! so take it step by step and enjoy!