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Casitas del Mar (Question for Leo)

bemidji minnesota
Level Contributor
11,684 posts
20 reviews
64 helpful votes
Casitas del Mar (Question for Leo)

On our everlasting search for affordable rentals with an eastern water view (and breeze) we finally landed on Casitas del Mar for our July trip. My sister and daughters and I were going to book up all four casitas. They had openings for all of July until the 27th. We had thoughts of a progressive dinner one night at each of our casitas and a mini (very mini) bar crawl. :) Unfortunately the Casitas del Mar owners are finally retiring (I mean yay for them) with a potential new owner "possible" in the next week. My question , directed at Leo or anyone else in the know, is....what do you think the chances of them having all of their licenses in place for July rentals is? It kind of sounded to me like Casitas del Mar's own licenses were all due about now and they made a quick decision not to renew. Thanks. :)

2 replies to this topic
Sykesville, Maryland
Level Contributor
1,416 posts
17 reviews
6 helpful votes
1. Re: Casitas del Mar (Question for Leo)

Hi MN! That's a great question; yes licenses need to be renewed annually, at the beginning of the year.

For a transaction like this, there are a lot of variables. I'm sure you don't know the answers to these, but these points are what I see as potential hurdles:

1. How long will it take for the potential new owner to finalize a contract and go to closing? "Mexico time" is a real thing, and "manana" doesn't mean "tomorrow", it just means "not today".

2. Is the new owner a Mexican national or not? If they are, that's great; if not, they would have to set up a fideicomiso or a corporation, which is time consuming. Then they need to get a Mexican bank account. Our property is held through a fideicomiso, but we recently set up a Mexican corporation now that we are renting it occasionally. That process was mind-numbingly long; even after the corporation was established, it took over four months just to get a bank account in the corporate name through HSBC.

3. Does the new owner own other property in Q. Roo? If so, they have contacts already with attorneys and accountants who can help to quickly guide them through the process.

4. Does the new owner even plan on keeping Casitas del Mar as it is currently structured? For example, everyone assumed that the buyers of Villa la Bella were going to keep it as is, and run it as a B&B since it has been so successful, but that is not what is going to happen when they go to settlement later this year. The same thing happened to Casa Sirena when Steve sold it; it went from a B&B to a private residence and hotel.

These are just a few thoughts off the top of my head, but to me, the variables the factor in whether the new owner can get the necessary licenses in place in time. If you make a deposit, is it 100% refundable up to a certain point? Since it's a little over 4 months out for your trip, maybe make a deposit and see how things go with Casitas over the next month or so. Since July is a slow time, you should be able to find alternate lodging pretty easily if you decide to cancel.

I hope this helps.

Leo

bemidji minnesota
Level Contributor
11,684 posts
20 reviews
64 helpful votes
2. Re: Casitas del Mar (Question for Leo)

I knew you'd be a wealth of information. :) Supposedly (?) they plan to continue renting and that's pretty much all I know. Interesting info regarding Villa la Bella and also Casa Sirena. Thanks for the response. I'll wait to see if they actually offer booking and what their cancellation rules are. I'll invite you to the "bar crawl" if it happens and you're on the island. :)

Reply to: Casitas del Mar (Question for Leo)
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